Parker Fitzgerald, a global leader in risk management consulting, has signed an agreement to work with Joburg economic-based firm Genesis Analytics to grow their work in the Africa market.
The five-year agreement signed by the two firms in Johannesburg unites the international footprint and knowledge of Parker Fitzgerald with the regional expertise of Genesis, which is the largest economics-based consultancy in Africa, to provide a more efficient service.
Genesis partner and Director of Genesis’s Financial Services practice, Richard Ketley, is excited about the agreement.
“The agreement will allow for leverage from Genesis’s pan-African and highly regarded financial services practice with Parker Fitzgerald’s global reputation, including a highly trusted standing with global regulators,” he said. “Together, we will be able to offer an exceedingly important and value-add service to our clients across Africa who are experiencing ever increasing volatile markets and complex regulations.”
James Bernstein, head of the Risk Management at Genesis, said: “The agreement allows our African clients access to valuable cutting edge, world-class risk methodology and regulatory advisory enabling them to critically understand the constantly changing risk environment they are challenged with”.
Africa is a key market
Parker Fitzgerald’s global head of advisory services, who has more than 25 years of international investment banking and capital markets experience, Graham Bruce, said: “Africa is a key market both for today and the future, and this co-operation will allow both firms to increase the value add they are able to deliver to their clients and to ensure that the forward looking risk agenda is at the forefront of discussion. In a globally competitive consulting market, this type of arrangement ensures that clients can receive the highest quality advice at a competitive price executed with local delivery. I am looking forward to both working with our new colleagues at Genesis as well as developing deeper relationships with clients in Africa from our Johannesburg office.”
CEO and founder of Parker Fitzgerald, Scott Vincent, said: “Never in the history of financial services has there been so much uncertainty. New regulation, advancements in digital technology and a shift in economic fundamentals has created tremendous down-side risk for financial institutions. Our sole purpose is to help organisations reposition their risk management capability in light of these major drivers and to improve their risk adjusted performance and ultimately shareholder value.
“Our partnership with Genesis Analytics reinforces our commitment to building a world class consulting franchise that is able to support our clients on the key issues that matter”
Genesis Analytics, which is the largest economics-based consultancy in Africa, was established in 1998 in Johannesburg. It opened an office in Kenya last year to deal with the growing demand for advisory services in East Africa.
London-based Parker Fitzgerald was founded in 2009 in direct response to the global financial crisis. With offices in New York, Singapore and Amsterdam, the firm provides strategic advice and consulting services to the world’s leading financial institutions in all areas of risk management, financial regulation and technology leveraging an international network of senior industry practitioners and recognised technical experts.
Additionally, the firm reports on various prudential matters for regulatory authorities and central banks and provides assurance services in the areas of capital and liquidity management, market conduct, enterprise and quantitative risk management.
Director and Partner