Novantas Acquires NBW Consulting Group

November 12, 2004

NEW YORK - Novantas LLC, the leading management consulting firm serving the financial industries has agreed to acquire NBW Consulting Group Inc, a leading consultancy focused on branch performance effectiveness.

Novantas is a pioneer in applying customer sciences disciplines in areas such as customer segmentation, product design, pricing strategy, and improving the ability of sales and service representatives to interact with customers. Along with consulting services, Novantas also provides computer-based services that support major marketing applications. The Mindswift® platform, for example, is used by clients to improve interactions with customers over the phone and the Internet.

NBW Consulting Group, headquarted in Westport, Connecticut, has built an industry expertise in branch sales performance improvement. Through a suite of comprehensive diagnostic techniques NBW helps banks evaluate sales staff performance from the customer point of view. NBW's proprietary StratShop^SM tool has been used by clients in more than 1,000 sales performance assessments during the last two years.

The two firms said the complementary nature of their respective capabilities and client needs provided a compelling rationale for the transaction.

The acquisition underscores the growing emphasis on customer responsiveness as the key to improved growth and profitability in the financial services industry. While mergers and consolidation have yielded operational efficiencies, financial services companies have learned that tailored approaches are needed to win with customers. Indeed, two-thirds of the client business across the newly-combined firm consists of specific programs to improve institutions' competitive positioning, market share, and price realization.

"NBW broadens the ability of Novantas to serve its core financial industries clients through its deep understanding of how to measure and manage service delivery through the branch system" said Dave Kaytes, Managing Director of Novantas.

"Together we can help our financial services clients accelerate sales growth and gain greater competitive advantages in marketing, pricing, and distribution," said Les Dinkin, Managing Principal of NBW Consulting Group. Mr. Dinkin has been named a Managing Director at Novantas.

About Novantas: Novantas is the acknowledged leader in customer science and revenue strategy for the financial industries. The Firm specializes in applying advanced analytics and technologies to help clients make better decisions in marketing, product, pricing, customer management, and distribution.

About NBW: Founded in 1988, NBW Consulting helps clients to accelerate sales and fee revenue growth. Its recommendations are based on objective evaluations of sales staff and relationship managers -- what they do, how they do it and how well they do it.

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