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The financial services industry is experiencing renewed pressure as it struggles to respond to the recent global credit crunch. Here in the UK this has been illustrated by the nationalisation of Northern Rock, massive losses posted by the investment banks and the raising of funds through rights issues for several of our major lenders such as HBOS, RBS and Bradford & Bingley in an effort to stabilise the mortgage market.

Whilst London maintains its competitive position as a financial centre, our clients experience an increase in market and regulatory developments on an international stage, resulting in cross-border linkages and changes to corporate structures in order to implement pan-European policies and legislation. The sheer pace of change in the market, the volume and complexity of policy response, the need to continuously deliver improved and new services to their customers, whilst remaining competitive, added to the market volatility, puts enormous pressure on financial services organisations.

Over the past 20 years, we have supported a large number of major financial services organisations to deliver new and innovative services through the delivery of complex projects and programmes. We have implemented large scale regulartory projects and corporate change programmes, working with clients through mergers, such as CGU and Norwich Union (now part of Aviva, the world’s fifth largest insurance group), supporting the Bank of Ireland through the introduction of the Euro, and assisting clients to maximise the value generated to their customers through e:commerce and process improvement projects. These are just some examples of the diversity of projects we have been involved with in this sector.

There will be a number of difficult challenges ahead for the financial services sector but critical to long term success will be the ability to deliver major projects and programmes that provide sustainable change and generate value to both shareholders and customers alike.

We are looking forward to continuing to support the financial services sector to deliver sustained value in the face of adverse market conditions.