Projective, a consultancy and project management specialist, has entered the German market with the opening of an office in Frankfurt. By establishing an arm in Germany’s financial services capital, the firm anticipates growing its footprint in the country and wider DACH landscape.
In the year that Projective celebrates its tenth anniversary, the consulting firm has expanded its wings into its fourth market. The consultancy was founded early 2007 in Belgium by Stefan Dierckx, who currently serves as Chief Executive Officer (CEO), and has since also successfully established a presence in the Netherlands (2009) and the United Kingdom (2010).
The firm’s decision for Frankfurt as its base was a logical one, says Dierckx. The city is Germany’s financial capital, housing the likes of the European Central Bank (ECB), the German Central Bank (Deutsche Bundesbank) and headquarters of several large international banks and financial institutions. Projective focuses exclusively on the financial services sector, and, in addition, its parent company Diebold Nixdorf* is based in Frankfurt, making the city an ideal location for its German operations.
From the Frankfurt base, Projective will focus on building a position in the German consulting market, an industry valued at €7.5 billion, of which an estimated 20% is generated in financial services. Leveraging its German team, as well as the support from other international offices, Projective also eyes expanding its portfolio to the two other DACH countries: Austria and Switzerland.
Team of 15 project managers by end of 2017
The ambitions in Frankfurt are large, says Dierckx. By the end of the year the project management specialist eyes a team of 15 project managers. To lead the drive, Projective has brought in Bernd Richter, a well-known face in the German financial services consulting landscape. Richter previously was a senior partner at Capco in Germany, where he worked for over fifteen years, most recently as head of the firm’s Banking, Capital Markets and Wealth Management practice. Prior to that he worked for Capgemini Consulting and spent around ten years at smaller consultancy firms. In recent years Richter specialised in digital transformation and financial technology (FinTech).
The focus of Projective Germany will to a large extent mirror the firm’s global service portfolio. At the heart of its service portfolio stands project management to the financial services sector. The firm serves the market exclusively with experienced professionals – programme and project managers with between 10 and 25 years’ experience. “Also in Frankfurt this will be the case,” remarks Dierckx. The experience is in the eyes of the CEO one of the key pillars of the firm’s DNA. “The financial services space is complex – knowledge and experience allows us to provide the best service possible to our clients. As an independent consulting firm we implement tailored solutions, leveraging our proven track record, and without the limitations of prescribed tools from third parties.”
Besides project management services, Projective also support clients with offerings in the field of Regulation & Compliance (e.g. PSD2, MiFiD2, GDPR, etc), Digital Transformation, Delivery Excellence and Operational Excellence.
Recruitment to achieve the growth target has already kicked-off. “We are looking for experienced professionals in project management, regulatory & compliance and digital transformation, with a background in financial services”, comments Richter.
Last year Innopay, a Netherlands-based management consulting firm, also expanded into Frankfurt. The operation is headed by Nils Jung, a former Oliver Wyman and Capco consultant. Other consulting firms with a significant Financial Services operation in Frankfurt include McKinsey & Company, The Boston Consulting Group (BCG), Bain & Company and the Big Four.