Deloitte has acquired substantially all the assets of Casey Quirk, a strategic consulting firm focused on the asset management industry.
Financial terms of the deal were not disclosed. Casey Quirk has serviced a majority of the world's 50 largest asset managers. As part of the deal, Casey Quirk’s partners and team members will transition to Deloitte and will operate under the "Casey Quirk by Deloitte" brand.
Deloitte has been building its consulting practice in recent years while retaining the brands of some of the firms it has bought. In January 2013, it acquired the human resources advisory firm Bersin & Associates, renaming it Bersin by Deloitte. That same month, Deloitte acquired a corporate strategic consulting firm, Monitor Group, and renamed it Monitor Deloitte.
"This is the latest in a string of strategic acquisitions Deloitte Consulting has made in recent years to continue helping our clients solve their most complex business challenges," said Deloitte Consulting LLP chairman and CEO Janet Foutty in a statement. "Casey Quirk's deep strategy expertise, leading research and recognized talent in the asset management consulting space will bring even more value to the trusted relationships Deloitte has with our financial services clients."
Deloitte will be able to expand its consulting practice for asset management firms through the acquisition.
"This combination brings together capabilities to help our clients drive transformational change across their organizations," said Joe Guastella, U.S. financial services consulting leader at Deloitte Consulting LLP. "Together, we are positioned to work with our clients in responding to the range of quickly emerging, evolving and complex challenges, including globalization, innovation, competition and, most importantly, shifts in investor requirements."
Besides globalization and competition, the combined firm will be better positioned to deal with other challenges such as fee pressure, industry consolidation, technology disruption, increased regulation and the rise of individual investors.
"Casey Quirk is joining forces with Deloitte to broaden our global financial services footprint and deliver differentiated execution capabilities for our clients," said Casey Quirk chairman Kevin P. Quirk. "This combination provides an unparalleled value proposition to the marketplace."
Casey Quirk dates back to 2002, with offices in Darien, Conn. The firm has more than doubled its staff in the past three years and opened offices in Hong Kong and New York, according to Casey Quirk managing partner Yariv Itah. “Joining Deloitte is an optimal choice to help us maintain our tremendous growth," he said. “We also believe this creates a superior career platform for our talented team."
