Tower Group Establishes Consulting Practice to Assist Financial Services Firms

The Tower Group, a leading independent provider of information technology research, advisory, and consulting services, has announced the establishment of a consulting practice, Tower Group Consulting Services. The new practice will assist financial services firms and technology vendors in all areas of strategic information technology planning. John W. Stone, a former partner in the KPMG Financial Services Consulting Group, will spearhead the efforts as partner-in-charge. This development formalizes The Tower Group's consulting activities, paving the way for an expansion of consulting services both in the U.S. and internationally.

Key Takeaways:

• The Tower Group has established a consulting practice, Tower Group Consulting Services, to assist financial services firms and technology vendors in strategic information technology planning.
• John W. Stone, a former partner in the KPMG Financial Services Consulting Group, will lead the efforts as partner-in-charge.
• The consulting practice will focus on strategic use of information technology in wholesale and retail banking, consumer credit, and securities and investments arenas.
• Tower Group Consulting Services will have a synergistic relationship with The Tower Group's research staff, leveraging each other's expertise in information technology and financial services industry.
• The practice will offer a range of services, including product assessment and positioning, competitive market analysis, industry practice analysis, customer relationship management, and business process risk assessments.
• Key areas of focus include international commercial and retail banking, exchange and OTC securities and investments, asset management, and insurance.
• Tower Group Consulting Services is currently engaged in projects focusing on trust systems assessment, acquisition/merger integration, vendor selection and management, and commercial lending system evaluation and selection.
• The establishment of the consulting practice strengthens The Tower Group's ability to guide clients in the strategic use of technology and enhance its research capabilities.

Statistics:

• The Tower Group has a staff of analysts and consultants serving financial institutions, technology providers, and consulting firms.
• The company has nearly two decades of experience in providing information technology research, advisory, and consulting services to the financial services industry.
• The Tower Group has a global presence, serving clients in the U.S. and internationally.
• John Stone has spent nearly 20 years with KPMG's Financial Services Consulting Group, working with the management teams of institutions in the banking, thrift, investment services, credit union, and insurance industries.

Sources:

• "Newton, Mass., Oct. 22 /PRNewswire/", Diogo Teixeira, president and founder of The Tower Group
• "About The Tower Group", The Tower Group (www.towergroup.com)