BCG to move Canadian headquarters to CIBC Square

20 September 2017

Global management advisory firm The Boston Consulting Group (BCG) is moving its Canadian headquarters to Ivanhoé Cambridge and Hines' forthcoming CIBC Square development in downtown Toronto. The deal for the new office was finalized in July, and the firm expects a move-in date of summer 2021.

BCG, a global management consulting firm headquartered in Boston, aims to move its Canadian corporate headquarters to the forthcoming CIBC Square development, a 270,000 m2 complex consisting of two 49-towers located on Bay St., south of Front St. The south Financial District development broke ground in June, and will be home to BCG’s headquarters in four years’ time. Developers Ivanhoé Cambridge and Hines commenced construction on 81 Bay St. after reaching a lease agreement with the Canadian Imperial Bank of Commerce (TSX: CM) to anchor the project. CIBC will be consolidating over 15,000 of its staff in the two buildings. BCG will have a more modest footprint, with its 300 Toronto employees expected to relocate to the glitzy new office block in the summer of 2021.

BCG to move Canadian headquarters to CIBC Square

“We are confident that this new development will serve our sizable firm presence in Toronto and support our growing office of the future," said Cliff Grevler, BCG Senior Partner and Managing Partner for the Toronto, Montreal and Calgary offices. "The opportunity to design our workspace in a setting that bridges the gap between the Financial District and the South Core, with amenities like convenient transit, sweeping water views and sizable outdoor space, is truly an opportunity we couldn’t pass up."

Hines Senior Managing Director Tom D’Arcy commented, “Hines is thrilled to now have BCG as an anchor tenant in Toronto at CIBC Square. With BCG leases at five other properties over the past decade, we have had a long-standing relationship with BCG and are looking forward to working with them to create best-in-class office premises that will support their global business and brand.”

Canada’s consulting market has recently been heating up in recent years. Firms have shown intent to aggressively expand their market share, with Canadian engineering and professional services firm SNC-Lavalin’s notably making a huge move in the $3.6 billion acquisition of British engineering consultancy Atkins, earlier in 2017.

Meanwhile, in the US, BCG was recently contracted by Whole Foods following their take-over by Amazon, which was finalized this summer. The consultancy will work with Whole Foods to help the grocery retailer save $300 million in baseline costs, as the store bids to bring in new customers and shed its reputation of costing one’s “Whole Pacheque.”

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Collins Barrow to add firms in Southwestern Ontario and across Canada

13 September 2018

Following the loss of four offices to rival mid-market accounting and consulting firm RSM Canada, Collins Barrow is bouncing back with a number of firms across Canada set to join its network by the end of the year. The accounting and consulting firm will release more details on its expansion efforts during this month and October.

Collins Barrow is one of Canada’s largest accounting firm networks, positioning itself as the premier mid-market alternative for audit, tax, and advisory solutions. In addition to accounting, audit, and tax, the firm offers business consulting services in the areas of corporate finance, legal, IT, and human resources, among others. The firm has 1250 professionals serving clients from 48 offices nationwide.

Collins Barrow employs a co-operative model, wherein its member firms (and offices) remain independently owned and operated, rather than being fully integrated like most other accounting firms. The firm says the co-op model has allowed member firms to punch above their weight, with the network seeing revenue growth of $80 million.Collins Barrow to add firms in Southwestern Ontario and across CanadaOn the flip side, the arrangement means that it is somewhat easier for rival firms to pull away offices from the network, since they aren’t, as such, owned and operated by Collins Barrow. In the past year, RSM Canada has formed its operations out of the erstwhile Toronto, Calgary, Edmonton, and Red Deer offices of Collins Barrow. RSM likewise competes with Collins Barrow for mid-market clients (i.e. those with revenues from $10 million to $1 billion; the Big Four accountancies snag most of the bigger fish).

However, Collins Barrow is already looking to bounce back from the loss of some of its principal offices. The company reports that firms in Vancouver, Toronto, and Southwestern Ontario are set to join its network before year’s end. The firm will release more details during September and October.

"Firms who are interested in joining the network must share our intrepid and driven mindset, which has made Collins Barrow the trusted Canadian alternative for accounting, tax, and business advisory support," remarked Ken Tammadge, who leads firm recruitment at Collins Barrow National. "Launching unique specialty services is a hallmark element of our strategy for growth and client success – one we're eager to expand with new firms in new markets."

Collins Barrow prides itself on being agile and local in its operations, though the firm also has global capabilities. It is a member firm of Baker Tilly International, a network of independently owned and managed accounting and consulting firms. The network includes 126 member firms in 147 countries, with over 30,000 professionals. While maintaining its independent structure and brand, Collins Barrow can nonetheless draw on the extensive international resources and expertise of Baker Tilly.

"Our shared vision for growth in the coming years is audacious, but strategic," said Collins Barrow National chair Grant Galbraith. "We have proven our success in key markets across this country. The Collins Barrow competitive advantage makes us the best launch pad for revenue growth, talent acquisition, innovation, and most importantly client satisfaction."