IT services provider Capgemini has acquired UK-based finance consultancy firm Quorsus.
The acquisition comes as part of Capgemini’s move to increase its offering in the capital markets space as regulatory requirements on financial companies across Europe ramp up.
Announced 10 October 2022, the acquisition will see London-based Quorsus support Capgemini’s clients within the capital markets space, addressing the constant rise in regulatory requirements, along with the implementation of efficiency across trading lifecycle operations.
Group executive board member and CEO of Capgemini’s Financial Services Strategic Business Unit, Anirban Bose, said: “While the landscape for financial institutions is re-shaping rapidly due to consolidations, new technologies, and changing operating models, compliance continues to be key.
“The acquisition of Quorsus brings to our team a set of in-demand specialist expertise to reinforce our capital markets services for financial institutions.
“With Quorsus, we are strengthening further our ability to deliver end-to-end business transformation to clients in financial services.”
The consultancy firm has a specific focus on financial businesses within the post-trade operations, technologies and regulatory spaces.
The firm will continue to work across financial systems, implementing capital market knowledge to bolster the position of clients in relation to the processing of securities, regulatory reporting and infrastructure of the market.
Quorsus CEO Ryan Baccus also commented on the acquisition: “We are very much looking forward to being part of the Capgemini Group. Our current clients will benefit from the Group’s global scale and breadth of services, which we believe will be critical to ensure our clients can meet both their strategic transformation and regulatory driven change requirements. Our team members will also benefit from the career opportunities that come with joining a global leader.”
Following its 2019 inception, Quorsus has experienced rapid growth, developing a large and diversified portfolio base, with clients including some of the largest participants in the global capital markets.
This acquisition links to claims made by Capgemini in 2019, which stated that there had been a decline in confidence in digital capabilities.
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