Professional services and technology business, Davies has launched a global consulting division, part of Davies Global Solutions.
The initiative includes the rebranding of specialist financial services consulting firm, Sionic, which Davies acquired in 2021. It will also expand Davies Global Solutions to employ a global team of 1000 employees, incorporating consulting, technology and insurance services.
The consulting division of Davies will consist of eight specialist practices: asset and wealth management, banking and markets, customer experience, assurance, financial crime and compliance, insurance, as well as people and organisational performance and managed services.
The services will be available to clients across the US, Europe, Africa, Asia and the Middle East.
In February 2023, Davies announced a new structure that aligned its global operations across three business units: Davies Global Solutions, Davies UK & Ireland and Davies North America. These three units have enabled Davies to consolidate its services across the insurance, financial services and other regulated markets.
Davies currently has more than 8000 employees operating across ten countries, including the UK and the US. The business delivers professional services and technology solutions across the risk and insurance industry. Its capabilities include claims, underwriting, distribution, regulation and risk, customer experience, human capital, digital transformation and change management.
Peter Stone, managing partner and chief strategy officer of consulting at Davies, says: “Rebranding Sionic gives our clients immediate access to a radically expanded range of expertise, and the pace will only continue to increase as we grow out the division with new acquisitions, capabilities, sectors and locations to continue as a driving force in global consulting. It’s a very exciting time!”
Mark Grocott, CEO of Davies Global Solutions, comments: “Under Davies, our clients will now have access to an international service offering, operating across 10 countries, while also allowing the wider business to remain agile as we position ourselves for the next phase of global growth.”
