Specialist financial services consultancy NMG Consulting has acquired fellow consultancy firm Tria Investment Partners, with Tria managing partner Andrew Baker to assume a country head role.
Global chief executive of NMG Consulting, Mark Prichard, said the acquisition will allow NMG to offer its expanded client base "a broader and deeper range of sector skills and expertise".
He said the two firms complement each other and he expected to see significant growth in Australia. The NMG network will "enable accelerated delivery of our combined Australian capabilities to international markets" he added.
In a communication to Tria clients, Mr Baker said the demands on Tria's capabilities have grown over its nine years in business and it was now time to think about how to take Tria to the next level.
The merger will allow Tria to do that and to offer clients "a deeper pool of expertise and insight, and new capabilities, sourced locally and from within the global NMG business" Mr Baker said.
Mr Baker will assume the role of country head for the combined Australian business, including the continuing Tria business. Tria staff, including chair John Tuxworth, are staying with the business, he added.
Ashwin Field will continue to lead NMG's multinational strategy consulting practice.
He described the move as "a big plan, albeit with some constant themes" and expected Tria clients to benefit from the additional capabilities and expertise.
"Our newly enhanced offer comes during a unique growth phase, as the industry looks to move beyond near-term cyclical and regulatory issues to a longer-term focus on the future needs of customers," he said.
The merged business will be focused on Australia's wealth management, asset management, life insurance and life reinsurance sectors, offering consulting, research and analytics, and implementation, the firms stated.
