Irish firm CubeMatch’s acquisition of Bishopsgate in the UK will create a global change management powerhouse with revenues of close to €30m.
Irish-headquartered change management consultancy CubeMatch has acquired Bishopsgate Financial Consultancy for an undisclosed sum.
The combined business will have more than 250 employees, 40 customers and projected revenues of close to €30m as well as operations across Ireland, the UK, Amsterdam, Frankfurt, Singapore and Chennai.
“The acquisition of Bishopsgate Financial creates an exciting new opportunity for CubeMatch to expand our offerings, provide value to customers in their change and transformation journey, and grow our business globally”
CubeMatch is an Irish global change and transformation consultancy excelling in complex and highly regulated financial services environments.
The acquisition of Bishopsgate will accelerate CubeMatch’s growth and allow it to enter new markets and will bring additional scale and capability to financial services organisations facing large change programmes by helping them complete them in an effective and timely manner.
Both firms offer consultancy, resource augmentation and managed services enabling change programmes to be embedded in their clients’ businesses.
CubeMatch’s expertise in strategic change, business and digital transformation, risk and compliance, data and technology, quality assurance and managed services combines will complement Bishopsgate Financial’s core specialisms in business change, compliance and financial crime.
“The acquisition of Bishopsgate Financial creates an exciting new opportunity for CubeMatch to expand our offerings, provide value to customers in their change and transformation journey, and grow our business globally,” said Tom Melville, CEO of CubeMatch.
“By adding Bishopsgate’s unique creative capabilities to ours, we will help companies go beyond change management design or measurement and toward activating transformational change at scale. Culturally Bishopsgate is a great fit for Cubematch and I believe Mike and his team will greatly enhance our capability in the UK market. Change is the key challenge for businesses, and we are convinced that this need will grow.”
Headquartered in the City of London, Bishopsgate Financial has a team of over 40 people and has a track record with leading International Financial Services organisations. The existing Bishopsgate Financial management team will remain in place, and existing clients will experience no change in service.
“The pace and scale of change in financial services shows no sign of abating,” said Bishopsgate CEO Mike Hampson.
“Our clients know the challenges they need to prepare for are complex and they need partners with the combination of sophisticated specialist knowledge held across multiple fields. This transaction will provide an enhanced service offering to our clients as well as enabling us to service them in a wider number of geographies, I am excited to be becoming part of the CubeMatch team.”
CubeMatch’s Tom Melville added: “This is an exciting time for CubeMatch, Bishopsgate, our respective teams, partners and customers. Together we will work with our forward-thinking clients to transform their businesses. The combined businesses will create one of the UK’s largest independent financial services change management consultancies, with major global financial institutions as its client base.”