London-based financial markets consultancy Catalyst has completed the acquisition of investment management consultancy Knadel, which operates from London and Jersey.
The acquisition marks the first in a series of planned expansion moves by Catalyst, following investment from private equity firm Livingbridge in October 2017.
Catalyst, which specialises in regulatory-driven change, organisational improvement and talent development programmes, has advised businesses including JP Morgan, HSBC and a range of hedge funds.
Knadel, which launched in 2009, focuses on investment management consultancy. It has advised firms including Lloyds Banking Group, Thomas Miller Investment and F&C Management.
Catalyst CEO Andrew Middleton commented: "The deal means we can now significantly broaden our offer across the full spectrum of financial markets.
"Global banks spent about $30bn on consultancy fees in 2016, up from $17bn in 2008, and client demand for a specialist services consultancy that can operate across the buy-side and sell-side is significant. Our clients increasingly require high levels of integrated expertise to tackle large, complex programmes of change."