Merger Monday delivers consolidation in the consultancy space. Deloitte has gobbled up nearly 100 percent of asset management consultancy Casey Quirk, the companies have announced today. A Deloitte spokesperson declined to disclose financial terms of the deal.

Joe Guastella Deloitte Financial Services Consulting Leader

The deal is being driven by a host of challenges that have gripped the asset management industry of late, including pressure surrounding fees, industry consolidation and heightened regulation.

Joe Guastella, Deloitte Consulting U.S. financial services consulting leader, states: "Together, we are positioned to work with our clients in responding to the range of quickly emerging, evolving and complex challenges, including globalization, innovation, and, most importantly, shifts in investor requirements."

Casey Quirk, for its part, has been on a growth trajectory in recent years, having doubled its staff and expanded in Hong Kong and New York.

As a result of the deal, Casey Quirk partners and employees will be transitioning to Deloitte and will operate under the Casey Quirk by Deloitte brand. Casey Quirk's website already reflects this change in branding.

"Casey Quirk is joining forces with Deloitte to broaden our global financial services footprint and deliver differentiated execution capabilities for our clients," states Kevin P. Quirk, Casey Quirk chairman. "This combination provides an unparalleled value proposition to the marketplace."  

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