Baringa arrives in Australia's consulting market with new Sydney office
Baringa Partners have arrived in Australia with their new office in Sydney. The new locale is the UK-based management consultancy firm’s first in the Southern Hemisphere.
Founded at the start of the millennium, the consultancy firm focused on business management and technology has entered a period of sustained growth. Baringa Partners has over 500 professionals spread across it’s 5 offices and has 50 partners throughout four main areas of practice: Energy and Resources, Financial Services, Telecoms and Media and Consumer Products and Retail.
Baringa Parners established its retail wing in late 2016, highlighting the firms continued intention to expand into new markets and areas.
The firm is seeking to boost its global network and footprint in order to support its clients financial needs and meet the challenges businesses face in todays ever changing landscape. Aside from Baringa’s new offices in New York and Abu Dhabi, the firm operates in both Dusseldorf and London.
The firm is expansion into the Australian market comes amid a wave of consultancies eyeing off the lucrative Australian market. Besides Baringa’s bids to accelerate its global growth with the new Sydney office, Australia’s management consulting market recently experienced growth of over 5% seeing the total value reach $4.6 billion. Baringa hopes to promote clean energy technologies in Australia and help the country transition towards cleaner economy.
The consultancy firm are currently rated as the number one one management consultancy in energy, utilities and the environment by the Financial Times hopes to capitalise on Australia’s market potential, replicating its success in the the US and the UK.
Baringa’s new office is situated in the heart of Sydney’s CBD, sitting on Town Hall Square and will be lead by Peter Sherry and Brett Clark. Building off the firms position as a leader in energy consulting, the new office will allow the firm to enter the Australian market with full advisory capabilities whilst expanding in both revenue and staff over the next year.
Peter Sherry commented in regards to the development: “There’s a real opportunity in the energy industry in Australia as the country transitions towards clean energy, whilst maintaining security of supply and bringing down consumer bills. Australia is ripe for a rapid transition to renewables and storage, with access to some of the best conditions for generating wind and solar power in the world and technology costs continuing their dramatic falls.”
“Australia is only just beginning to realise its full potential for renewable energy and storage, from what we’ve seen in other energy markets around the world, there’s an opportunity for it to leapfrog other countries and become a world leader in clean energy, and this is something we are excited to help our clients navigate,” He added.
The head of the Australian retail and network, Brett Clark said: “There are similarities between the way in which the Australian energy market works and other energy markets we have worked in around the world. For example, competition and smart meters are two of the key issues in the UK energy sector at the moment and the same ones are facing the Australian sector. Given our experience with energy companies in the UK there’s a real opportunity for us to share our expertise with clients in the Australian market.”
The conditions which both Sherry and Clark mention are in line with conditions which the global consulting industry has already begun to capitalise on. Over the past few years, the Australian market has seen an uptake of both investors in and developers of renewable energies. Baringa aims to benefit from companies who turn to consultancies for help in transformative energy projects and from favourable conditions in the market.
The company’s rival energy and business consultancy firm Navigant recently opened an office in Sydney alongside Transform, another UK-based consultancy focused on digital transformation.
