Two firms join forces to expand financial services risk consulting services

Crowe Horwath LLP, through its subsidiaries, reached an agreement to purchase BaxterBruce Ltd. Crowe Horwath is a leading firm in global risk consulting, while consulting firm BaxterBruce has deep specialization in insurance industry risk consulting. Based in London, BaxterBruce serves clients throughout the United Kingdom. By joining forces, the two firms will create one of the U.K.’s premier risk consulting firms to the financial services industry. Financial terms were not disclosed.

Established in 2009 by Justin Baxter and Daniel Bruce, BaxterBruce specializes in risk management, capital management and regulatory change to the insurance industry in the U.K. The firm, which has been expanding at a rate of more than 20 percent each year, has built a reputation for excellence underpinned by deep actuarial, regulatory and change management capability. Baxter and Bruce will join Crowe Horwath as principals.

Crowe Horwath currently serves some of the world’s largest companies in the financial services, life sciences and manufacturing industries. The combination of the two firms will help expand the services that Crowe Horwath offers its clients in the U.K. and around the globe and will also deepen its insurance industry, actuarial and change management expertise. For BaxterBruce, the merger will enable its clients to access a broader set of capabilities in the key economic centers of the world.

“Crowe Horwath and BaxterBruce have built their businesses on similar values, which we believe is key to our success together in the future,” said Steve Strammello, managing partner of Crowe Horwath Risk Consulting. “I am delighted that our people and our clients globally will benefit from our two firms joining forces in the U.K.”

“This enhanced global insurance risk capability is particularly advantageous for companies using subsidiaries around the world as part of their financial infrastructure,” said Bill Knibloe, managing director of Crowe Horwath Cayman Ltd., which provides business advisory services to the offshore financial community. “Given the increased regulatory scrutiny faced by investment companies and captive insurance entities, combined with the public perception of financial transparency abroad, merging with a premier firm like BaxterBruce will lead to better corporate management and governance of risk by our clients.”

“Joining Crowe Horwath is a great fit with our values and way of doing business,” said Justin Baxter, co-founder of BaxterBruce. “This move will reinforce our two firms’ leadership in the financial services industry and open up new possibilities for our team and our clients.”

“This is a natural evolution for BaxterBruce,” added Daniel Bruce, co-founder. “Our clients really appreciate our attention to quality and the depth of our expertise. We will now have much greater critical mass to help clients tackle a wider range of challenges, without compromising the principles on which our reputation has grown. ”