City Practitioners announced today that it was acquiring TCA Consulting Ltd, the consulting subsidiary of the Terence Chapman Group plc. The formal acquisition by CPL is expected to take place in November 2002 following a Terence Chapman Group Extraordinary General Meeting.
CPL is an IT services consultancy delivering collaborative outsourcing and operational consultancy to investment banks. It is privately owned and funded. Founded in 1995, CPL has an office in London with 45 staff.
“We are very pleased to confirm our purchase of TCA Consulting,” says Tom Kozlowski, executive chairman, CPL. “The acquisition is a natural and logical step for CPL as we look to extend our practices into other areas of the financial services sector.”
TCA Consulting, set up in 1986, has enjoyed a high profile in IT consultancy, primarily in corporate and investment banking, private and retail financial services and investment management. “The company’s strengths include its staff, proven processes, implementation methodologies and experience in financial sectors in which we currently have no presence,” says Kozlowski. “Our vision is to create an innovative, entrepreneurial and client-focused consultancy. The combination of strengths from both these organizations means we will be able to provide greater service, advice and stronger implementation capabilities to our clients.”
Business areas covered by CPL include risk management; straight through processing; workflow; order routing and process mapping for the business areas of fixed income, equities, FX, commodities and derivatives. Product expertise includes Murex applications, Summit, Fidessa, in-house systems and systems interfaces.