NEW YORK – Novantas LLC, a management consultancy serving the largest banking and financial services companies in North America, today announced the acquisition of Jackson LaSalle Group, a leading financial services consultancy based in Chicago. The deal will anchor Novantas’ Midwest practice expansion.
Novantas, based in New York, is the acknowledged leader in customer science and revenue strategy in the financial services industry. It specializes in investigating and interpreting customer needs, attitudes and behaviors to help companies refine decisions, customer strategies, and sales and service activities.
Jackson LaSalle Group focuses on helping banks upgrade operational performance in customer facing activities, enhance service agility, and increase cost efficiency.
“Jackson LaSalle Group is an excellent fit with Novantas,” said Dave Kaytes, Managing Director at Novantas. “Together, the two firms will provide an outstanding array of performance improvement capabilities to major financial services companies worldwide.”
Michael R. Rice, Managing Partner and Founder of Jackson LaSalle Group, said: “Our clients in North America, Europe and South America will now benefit from the expertise developed by Novantas over the course of its work with major financial services companies globally. In turn, our distinctive approaches and capabilities can now be marketed to more financial services companies, both domestically and internationally.”
Since its founding in 2004, Jackson LaSalle Group has been highly active in commercial banking, payments, investment services and insurance. While the company is actively involved in strategy formulation, its forte is helping companies to identify the specific steps needed to bring performance improvement initiatives to life. Rice has more than two decade’s worth of experience in financial services, including leadership of Chicago-based Charter Consulting, a division of Technology Solutions Co, and as the head of the Americas Financial Institutions Consulting Practice of Cap Gemini Ernst & Young. Rice started his career at Northern Trust Corp., Chicago.
The combined entity will operate under the Novantas name, with corporate headquarters in New York City. The twelve Jackson LaSalle staff will remain in Chicago, and Rice will function as head of Novantas’ Chicago office.
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. Areas of particular expertise include retail and small business banking, branch sales performance, credit cards, insurance, brokerage, and commercial and investment banking. Through disciplined analytics, pragmatism and deep industry experience, the Firm ensures that the resulting performance improvements are effective and enduring.
The two firms said the complementary nature of their respective capabilities and client needs provided a compelling rationale for merging. Terms of the transaction between the two privately-owned companies were not disclosed.