Massachusetts-based Sapient has acquired Derivatives Consulting Group (DCG), a London-based provider of consulting and outsourcing services to investment banks and asset managers.
Established in 2003, DCG provides derivatives consulting and outsourcing services to investment banks, hedge funds, asset managers and commercial banking clients.
Sapient says the unit, which will operate within its trading and risk management (TRM) practice, will "dramatically increase" its ability to address derivatives operations issues.
Sapient's expanded TRM services will now include operations benchmarking, derivatives and process expertise, operations support, technology services and off-shore capabilities.
"Today's volatile markets and increasingly strict regulatory environments make this an opportune time to add DCG's capabilities to our TRM practice," says Sapient president and CEO Alan Herrick. "Regulatory scrutiny has resulted in new demands on clients to maintain compliance and reduce the risk associated with the growing complexity and volumes of these transactions."
Financial terms of the deal were not disclosed.