Parker Fitzgerald, strategic advisor and consulting partner to the world’s leading financial institutions, today announces a number of organisational and senior management changes in response to the significant challenges facing the banking and wider financial services industry.
Whilst the regulatory agenda is still a top priority for executives, changing market dynamics and an improving macro-economic environment are presenting new challenges and opportunities for financial institutions. Balancing regulatory commitments with the need to become more efficient, resilient and relevant in a rapidly evolving market is a critical concern for all boards.
Clients are increasingly seeking support around business model transformation as they define and implement sustainable models for the digital banking age as it unfolds. The requirement for financial institutions to improve profitability is causing a radical shift towards optimising efficiencies across the organisational structure, with a focus on the adoption of new technologies. This transformation in operating models in turn creates a new risk taxonomy with non-financial risk becoming ever more complex and demanding on both the banks and the regulatory bodies that oversee them.
Effective 1 October, the global consulting practice will be arranged into four service lines to enable us to support our clients in a more effective manner.
Our Global Advisory, Solutions, Assurance and Transformation practices will each be led by senior industry practitioners who have an array of experience across financial services:
Matthew Hayday, Partner, will lead our Global Solutions Group focussing on advanced data analytics, AI and client technologies. Additionally, Matt will oversee our acceleration into the utility and managed services market
Pritesh Patel, Partner, will lead Global Assurance, focussing on the provision of strategic and technical assurance across our clients’ digital bank and services, including the control environment, product design and technology
Dr Nasir Ahmad, Partner, will lead Global Advisory Services focussing of the provision of strategic advice to clients in all areas of risk management, quantitative analytics, regulation and compliance
Michael Soppitt, Partner, will lead Strategic Transformation focussing on the delivery strategic change across our client’s organisations arising from digital and operational efficiency objectives
Andrew Moss, Chairman, Parker Fitzgerald Group said ‘Digitalisation and non-financial risk are now Board agenda items for many firms. Some 10 years after the global financial crisis, we are seeing the emergence of new risks on both a systemic and organisational level. We are making these changes to ensure the continued alignment of our capabilities to those of our clients and customers’ evolving needs here in the UK and into other new markets.’
Scott Vincent, Chief Executive, Parker Fitzgerald Group said ‘The management of risk for our clients is becoming ever more complex and challenging. The on-going demands from the national and supra-national regulators are now being rivalled by a new emerging risk agenda as the critical focus for senior risk leaders. Our practitioner led approach is highly valued by clients and regulators alike. We have structured the business and invested in the leadership capability of the industry’s leading consultants to better serve customers improving their resilience and profitability through the effective management of risk across all three lines of defence’
For more information contact:
Phone: +44 (0)207 100 7575