New steps in the DACH region
On 1 April, we expanded our international presence with two offices in the Germany. From the cities of Cologne and Frankfurt am Main, a team of experts will advise both corporate clients and financial institutions in the DACH region on treasury and risk management issues. With 20 years of big four treasury consulting experience, Carsten Jäkel will take on the daily management as principal of Zanders’ German office. Good reason for an introduction.
Zanders has already been active in the DACH region since 2010 from its Zurich office, which currently counts thirteen consultants and is led by Martijn Wycisk (Principal) and Tobias Westermaier (Director). From the two new German office locations, we expand our activities in the DACH region and further strengthens the Zurich office with its activities in the Swiss and Austrian market. In addition to Carsten Jäkel, Stephan Plein (as managing director) and Robert Richter (senior manager) also strengthen the German team.
From A to Z, including transactions
Carsten Jäkel explains: “The German offices offer us extra foundation for the entire DACH region, which gives a broader base in resources and expertise. As Zanders does in many countries worldwide, we offer treasury consulting from A to Z, so from treasury strategy & organization to technology selection & implementation, including servicing corporations and PE firms in treasury related topics of transactions. My focus, together with Stephan and Tobias, will be more on the corporate treasury market while Robert and Martijn will mainly focus on financial institutions.”
As such, Carsten and his team will also advise clients on transactions, such as carve-outs and consolidations. “In the past years, Stephan and I have done a lot of consulting around setting up full treasury functions for carved-out entities. We want to become more active in the private equity world, helping PE firms perform better in their treasury function and their transactions.”
From restrictions to challenges
Carsten started his treasury career at Mannesmann, a large German corporate that was acquired by Vodafone in 2000. Since 2002, he has worked in treasury consultancy for three ‘big four’ companies; PWC, KPMG and EY.
“Compared to the big four companies, there is only one limitation at Zanders; we are not experts in financial instrument accounting. However, in the world of big four consulting, it has almost become impossible to do any consulting work for audit clients. There are a lot of requirements and restrictions in the finance space. But even beyond that, if you are the auditor for a software company, or for a PE firm that has a stake in that software party, you cannot enter alliances or corporations. It is therefore very hard to have that robust network of various treasury suppliers that you need and work and share information with. And that is a problem, since almost all projects in treasury have an element of IT in them. So, after twenty years working for big four companies, I look forward to contributing to Zanders' intended growth in the DACH market – a great challenge!”
Laurens Tijdhof, CEO & Managing Partner at Zanders, is very excited about expanding in the DACH region and the new experts. “Carsten and his German team have a strong focus on treasury and risk management, from an organizational, process and technology point of view – so very holistic. Given our status and experience with large treasury transformation and quantitative risk management projects, the establishment of our new team in Germany offers great opportunities for us to expand our activities in the DACH region.”
Carsten’s first impressions of Zanders are positive. “It’s good to notice that my colleagues are looking for substance; I quickly noticed that there is no superficiality at Zanders. The organization appears to be creative and communicative. Also, while most of our counterparties limit themselves to a certain element of that process, we can deliver project turnkey. Zanders Germany is therefore a full-service provider in treasury, risk and finance.”
Stephan Plein has started his professional career in 2004 and has been working in the area of treasury consultancy with the big four firms KPMG and EY since then, with a focus on treasury transformation and transactions.
Robert Richter has eight years of risk management experience, working for Deloitte and as independent contractor. He has also worked as a researcher and lecturer at the Frankfurt School of Finance focusing on blockchain technology.
The Zanders Germany GmbH offices are located on:
Tunisstraße 19-23 50667 Cologne Barckhausstrasse 1 60325 Frankfurt am Main