Credit crunch boost for Navigant
Navigant sees 116% rise in revenues in the last year
Tightening market: Brian Norton
The credit crunch has sparked a 116% rise in revenues for forensic accounting
group Navigant
in the last year.
The boutique consulting practice, which is US-owned, now makes £41m from its
European and Asian businesses, it said.
‘We’re in areas that do well in turbulent times’, said managing director
Brian Norton, referring to areas such as disputes and the sub-prime market. ‘I
think we’re pretty counter-cyclical’.
The success of the practice showed how small niche consultants could nip at
the heels of the Big Four, he added: ‘There are a lot of excellent small
management consultancies doing work, which is far better than the very big
firms.’
Navigant
has grown both organically and through acquisitions buying Troika last year.
But Norton warned that consulting was facing a ‘tightening of the market’, with
a reduction in mergers and acquisitions work that would cascade across other
areas.
Headcount in the business has now doubled to 220, and its acquisition of
Troika gave it financial services clients including ten of the UK’s top 15
banks, ten of the top 15 investment managers and 13 of the top 15 life and
pensions companies.
It also has more than 100 people in the UK who provide expert witness
services, it said.