The consulting conundrum

Gone are the Y2K days, when consultancies could exploit their strong positions and bill their clients big money for questionable services. The roles have been reversed for financial services firms, and consultancies are having to back up their ‘smoke and mirrors’ claims with measurable, value-added services.

The financial services industry has changed a lot in the past few years. Whether the incidents of September 11, 2001 marked the end of the good times or accelerated the global market decline after the excesses of the late 1990s is a moot, yet irrelevant point.

Similarly irrelevant - although no less contentious - are the questions of if and when some semblance of normality will return to the global economy. Analysts cite the cyclical nature of global economics as the inexorable catalyst for

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