RPC launches management consultancy business with Towers Watson hire
Rory O'Brien has joined the firm as it moves into top-end consulting in the insurance sector for the first time
February 11, 2015 at 12:20 PM
2 minute read
RPC has launched a new management consultancy business for the insurance sector, hiring Rory O'Brien, formerly global head of risk consulting and software at Towers Watson, to lead the operation, which will be known as RPC Consulting.
O'Brien, who joined Towers Watson in 2011 and has worked in the insurance industry for almost 30 years, joined the firm this week (9 February) as both a partner and member of its management board.
He will now start recruiting a senior team around him which will advise clients on areas including strategy, capital management, regulation and M&A.
Previously, he also served as managing partner at EMB Consultancy for nearly three years and took a lead role in its sale to Towers Watson in 2011.
RPC Consulting will operate as part of the law firm and not as a separate business, though the firm is considering converting into an alternative business structure further down the line.
Managing partner Jonathan Watmough (pictured) said the intention was for the business to be profitable in its own right while also boosting the firm's legal revenues from insurance clients.
He told Legal Week: "The challenge for all of us is to occupy a higher value space in clients' minds. If we can offer something different to the competition, get into the boardroom and be in the forefront of clients' minds then we'll also be better placed to win more legal work. But this is going to be a proper business – it will be profitable on its own."
O'Brien said: "There is a major opportunity to create an alternative insurance consultancy provider that is independent, has deep sector expertise and an insurance industry focus."
According to Watmough the firm hopes for the new business to become one of the leading players in the insurance consultancy space after Towers Watson and the big four accounting firms.
Once established the intention will also be to use the business to gain traction in the asset management market.
"Our reason for doing this is to massively magnify the law firm brand and offer a wider range of services to our legal clients. It is an obvious area for law firms to add value," said Watmough.
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