Johannesburg: Bain & Company has expanded its financial services practice in South Africa, with two experienced partners joining its Johannesburg office.
The firm says that the appointment of Innocent Dutiro and Fabrice Franzen reflects the quickening pace of South Africa's financial industry.
"We are growing our team of financial specialists at a time of global challenges and unique opportunities for South Africa's leading players," said Vittorio Massone, managing partner of Bain in Johannesburg.
"The strong capital positions of South Africa's leading banks and financial services companies gives them a rare window of opportunity for local and regional growth."
Innocent Dutiro brings more than a decade of experience working with the region's financial services industry and more than 25 years' experience in consulting. Fabrice Franzen, a Bain partner relocating from the firm's Paris office, is another financial services veteran and an expert in retail, commercial and private banking.
Dutiro has extensive experience working with retail and corporate banks and life insurance institutions in Southern Africa. His work has encompassed growth strategy development, channel management, distribution, organizational design, IT strategy and cost reduction. A naturalized South African, he is a chartered mechanical engineer and earned an M.B.A. from University of the Witwatersrand in Johannesburg. He joins from Deloitte Consulting where he was a partner leading the financial services practice in South Africa. He earlier served as chief executive of Gemini Consulting in Johannesburg and as a senior executive in one of South Africa's large retail banks.
Franzen joined Bain in 2006. He has been active in supporting international growth strategy, M&A and post-merger integrations for large European and Australian retail and commercial banks, as well as private banks and insurance companies. He has significant expertise in retail banking top line improvement (including customer proposition design and delivery and distribution) and operations streamlining. He is fluent in five languages and graduated with a Bachelor of Arts degree from the Solvay Brussels School of Economics and Management.
"This strategic move from Bain & Company in the financial services industry — South Africa's largest sector — is consistent with our ambition to be the first choice premium consulting firm in Southern Africa," added Massone. "Our goal is to continue the significant growth we have enjoyed over the last two years driven by our expertise in advising Africa's leaders across its key industries — including mining, financial services, telecommunications and media, retail, private equity and the public sector."