Sudden Impact: How the Financial Crisis Is Affecting the Consulting World

The present downturn, sparked by problems within the financial services industry, has swiftly and significantly reduced consulting opportunities among banking and insurance clients. Some smaller boutique firms that serve financial services clients may have trouble surviving in 2009, particularly if banking clients remain hunkered down while trillions of dollars of capital continue to idle in global money market funds.  Yet the impact of the financial crisis on consulting—predominantly negative across most industries, but positive among certain consulting offerings—reverberates well beyond Wall Street.

By Eric Krell

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