NEW YORK; Feb. 12, 2010 -- Accenture (NYSE:ACN) has acquired RiskControl, a privately held risk consulting company based in Rio de Janeiro, to complement and expand its risk service offerings in the rapidly growing Brazilian market.
The acquisition includes RiskControl’s staff and service offerings as well as its end-to-end software tool, RiskControl, a software platform that helps companies manage, monitor and evaluate risks throughout their business. The software is used primarily in financial services institutions to help manage balance-sheet exposure to market risk factors such as fluctuations in interest rates, foreign exchange rates, stock prices, indexes or commodities prices.
RiskControl will be integrated into Accenture’s new Risk Management service line, and Accenture will continue to deliver services to RiskControl’s clients under the terms of their existing contracts.
"Having worked with leading financial institutions and other market sectors in Brazil, RiskControl’s team will bring valuable experience to Accenture’s Risk Management service line in the country at a time when companies are increasingly aware of the need for stronger risk management capabilities," said Carlos Vianna, the senior executive responsible for Accenture’s Risk Management
service line in Brazil. "As Brazilian companies mature and grow, they need stronger, better-integrated risk management capabilities that can help them understand how various decisions affect their bottom line and balance that information against potential risks."
Vianna said that Accenture is committed to growing its Risk Management business in 2010 and beyond, recognizing the increasing need for risk management services worldwide. A study completed by Accenture in 2009 found that 85 percent of CFOs and senior finance and risk executives in 21 countries are dissatisfied with their risk management capabilities, and 40 percent of them had increased or planned to increase their risk management capabilities.
"The acquisition of RiskControl underscores our commitment to providing a robust set of risk management services to our clients and addressing their need for improved risk management capabilities," said Steve Culp, managing director of Accenture’s Risk Management service line. "We want to be the organization that companies turn to for their risk management services, regardless of the industry or unique business practices that exist in their geography.”
Accenture risk management solutions are designed to help organizations identify, measure and proactively assess risks in an effort to achieve higher economic returns and deliver improved value to stakeholders.
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