LONDON, April 7, 2016 /PRNewswire/ --
The Boston Consulting Group (BCG) and Opportunity Network have reached an agreement aimed at helping financial institutions provide a wide array of growth opportunities to their customers.
Opportunity Network provides a platform through which banking clients can seek trustworthy partners to help them expand into new markets, sell privately held enterprises, execute cross-border mergers and acquisitions, and maximize asset utilization on a global level. Opportunity Network also helps partner banks gain exclusive insights into their clients' expansion plans and appetites for M&A activities, allowing the banks to become better advisors.
"Opportunity Network has a very attractive value proposition for banks, and we're happy to provide this opportunity to our clients," said Lionel Aré, a BCG senior partner and global leader of the firm's Financial Institutions practice. "In partnering with Opportunity Network, we are looking to address an important issue: the fact that many midsize businesses and private investors lack the tools and networks of contacts needed to grow, which in turn reduces opportunities for the commercial banks and wealth managers that serve them."
BCG and Opportunity Network said that they have already begun joint discussions with corporate- and private-banking divisions of leading financial institutions, and many banks are expressing enthusiasm for the opportunity to provide their top clients with access to Opportunity Network's platform.
"The partnership with BCG will allow financial institutions to strengthen their relationships with their clients by enabling them to find trustworthy business counterparts worldwide at the click of a button," said Brian Pallas, CEO and founder of Opportunity Network. "Companies must gain access to trustworthy partners in an effective and efficient way," Pallas continued. "Their banks must serve them as they execute deals at the speed of continuously changing markets. Digital technology can now play a leading role in expanding the global economic system by supporting both companies and the financial industry."
As part of the agreement, BCG, which participated in the latest round of fundraising for Opportunity Network, will gain a minority share in the company. BCG's Lionel Aré has also joined Opportunity Network's board of directors.
About The Boston Consulting Group
The Boston Consulting Group (BCG) is a global management consulting firm and the world's leading advisor on business strategy. We partner with clients from the private, public, and not-for-profit sectors in all regions to identify their highest-value opportunities, address their most critical challenges, and transform their enterprises. Our customized approach combines deep insight into the dynamics of companies and markets with close collaboration at all levels of the client organization. This ensures that our clients achieve sustainable competitive advantage, build more capable organizations, and secure lasting results. Founded in 1963, BCG is a private company with 85 offices in 48 countries. For more information, please visit bcg.com.
About Opportunity Network
Opportunity Network (http://www.opportunitynetwork.com) is the business matchmaking platform where members can find trustworthy counterparties for any deal above $ 1 M and that allows banks to grow their market share. Members, key decision-makers selected by financial institutions from all over the world, post Opportunities anonymously that vary from M&As, commercial partnerships, investments, to joint ventures. Opportunity Network now serves thousands of companies across 78 countries and has hosted over $ 30 B in opportunity deal flow. Hundreds of connections have been made on Opportunity Network's platform, playing a key role in sustaining global economic development.
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SOURCE The Boston Consulting Group (BCG) and Opportunity Network