US-based Claro Group signs affiliation agreement with Accuracy

Financial advisory firm Claro Group has signed an affiliation agreement with French financial advisory firm Accuracy. The agreement – which doesn’t alter ownership or corporate structure – gives Claro access to the global reach of Accuracy’s offices in Canada, Europe, and Asia. Meanwhile, Accuracy will benefit from Claro’s footprint in the United States.

Chicago-based Claro Group is one the leading privately-owned financial and management consulting firms in the United States. Founded in 2005 by a team of former Big Five consultancy partners, the firm provides business and government clients with financial advisory services – including disputes, investigations, insurance claims, corporate recovery, and technology offerings. In addition to its Chicago headquarters, the consulting firm has offices in Houston, Austin, LA, and Washington, DC.

Claro has expanded its reach globally with the signing of an affiliation agreement with Paris-based financial advisory firm Accuracy. The similarly focused French consultancy offers its clients advice in areas ranging from turnaround and restructuring to disputes and transactions. Accuracy has 400 consultants working from 12 global offices spread across Europe, Canada, Asia, and Africa.

Teaming up with Claro likewise fills a gap for Accuracy, which lacks a footprint in the United States – the world’s largest and most mature consulting market. “This agreement with The Claro Group is our first and only affiliation, making it unique,” commented Fredéric Duponchel, CEO and Managing Partner of Accuracy. “It is key in our development as it reinforces our capacity in the US, in addition to our current European, Asian and Canada locations.”

“We share values and the same vision with The Claro Group partners, and we have many common actions planned in the near future.”

Claro Group Chairman and CEO George Hansen added, “This affiliation expands the geographical reach of both firms and allows us to better serve our clients, many of whom operate in global markets.”

The synergistic affiliation will not alter either organization’s ownership or governance structure. The agreement will, however, enhance their economies of scale while allowing for a sharing of resources, knowledge, and best practices.

Consultancies will often form strategic alliances and partnerships with technical firms to expand their capabilities without adding in-house talent, like management consultancy RGP allying with robotics expert Wonderbotz to secure access to leading robotics process automation resources.

Firms will also form alliances with like-minded and similarly-focused consultancies to mutually expand their geographical reach and access to clients, without having to open new offices. However, if and when these firms decide to move into a geographical area of their affiliates, these alliances are often dissolved.