Accuracy opens office in Casablanca, 2nd in Middle East, 15th worldwide

Following the opening of locations in Singapore and Dubai, Accuracy has opened the doors of another new office in Casablanca. The global consultancy is expanding its presence across the Middle East and North Africa particularly, as it prepares for a boom in demand across the regions.

Founded in 2004, Accuracy is a privately-held financial advisory firm owned exclusively by its Partners, specialising in valuation services, transaction support, litigation, and arbitration services. The consultancy has a headcount of 370 consultants, 47 of whom are Partners, and since its inception the financial consulting firm has seen sustained growth, triggering an extended period of expansion for the group from its original base in Paris.

In 2011, Accuracy first set foot beyond its native Europe with an office in Canada, and roughly a year later it entered the Asian market through an office in India. Singapore followed suit in the summer of last year, and a newly unveiled Dubai office became the firm’s fifth venture outside of Europe soon after. Now, in 2018, Accuracy has expanded to yet another new frontier.

The new office, in the Moroccan city of Casablanca, will be run by Accuracy Partner Taoufik Lachheb and Manager Aomar Elalamy. The locale is Accuracy’s 15th globally, with the firm boasting a presence in 12 countries across Europe, North America, Asia, Middle East and Africa. As well as opening new offices of their own, Accuracy’s expansion plan has also included a campaign of acquisitions, which saw the firm acquire GTE to enter into the Chinese advisory market.

The office, which is based in 'Casablanca Finance City', a hub for businesses and startups, is the latest addition to the city’s professional services and financial landscape. The firm will compete with the likes of the Big Four and The Boston Consulting Group – which recently appointed Hamid Maher as Partner and Managing Director in its office in Casablanca – to win clients in both the public and private spheres, advising on corporate strategy / economic policy, transformation projects and digitisation.

Leadership

Prior to joining Accuracy in 2013, Lachheb spent 12 years in the management of large industrial projects in the shipbuilding, nuclear and mining industries. He also worked for the Construction Disputes arm of Navigant. Now, as a Partner at Accuracy, he is mainly involved in major industrial projects, served from the Project Advisory and Disputes practice. Lachheb will head the office alongside Manager Aomar Elamamy, a former Quantitative Analyst at AXA Investment Managers and graduate from the Ecole Centrale Paris who joined the firm in 2014.

Commenting on the new office, Lachheb said that the Francophone synergies between Casablanca and Paris gives the firm a head-start in the region. “We already work in Morocco and various other countries in Africa in areas linked to construction and infrastructure projects. We are now able to work more on banking and insurance issues, thanks to the combined skills of Paris and Casablanca together. We are able to assist players operating in the region across all sectors, in transactional, dispute and decision-making situations, which require a deep understanding of the strategic issues, a complete in-depth analysis and an estimation of financial impacts.”

The Frenchman Frédéric Duponchel, CEO of Accuracy, added; “Our continued growth since our foundation in 2004 and our income of €80 million in 2017 allow us to consider our international development both ambitiously and serenely. A permanent office in Casablanca will enable us to consolidate our relationships with Moroccan groups, serve our clients more easily and deal with even more engagements in both North Africa and Sub-Saharan Africa alike, thanks to Morocco’s role as the veritable hub of francophone Africa.”

Lachheb concluded, "The growth prospects for Accuracy’s operations, linked to the Moroccan state’s ambitious strategy, seem excellent."