CubeMatch acquires stake in DVCP to boost UK consultancy reach
CubeMatch has acquired an initial shareholding in UK professional services firm DVCP as part of a phased full acquisition expected to be completed by the end of 2026.
The move marks CubeMatch's second strategic acquisition this year, following its earlier purchase of German consultancy BGK, and reflects the company's ambitions to strengthen its presence in the UK financial services consultancy sector.
Expanding UK reach
CubeMatch, a Dublin-headquartered consultancy with a focus on the financial services industry, has indicated that the agreement with DVCP will help expand its British footprint. The company already operates an office in London, and has plans to further extend its reach into the Midlands and Scotland.
This acquisition continues CubeMatch's expansion strategy. The consultancy previously acquired Bishopsgate Financial, a London-based firm, in 2021, and sees the UK as a critical market in its broader European and Asian operations.
DVCP expertise and background
DVCP, established in 2020 by Mhairi Kennedy and Tom Saunders and joined by David Campbell in 2021, specialises in financial services transformation, technology strategy and programme assurance. The firm has been recognised for its work on the UK's first solvent wind-down of a bank, managing Masthaven Bank's withdrawal from the UK marketplace in 2023, and is currently supporting further solvent wind-downs and programme assurance initiatives for building societies.
CubeMatch's agreement with DVCP aligns with wider industry trends such as banking sector consolidation, evolving regulatory requirements, increased adoption of data and AI, and the demand for major digital transformation projects in financial services. These shifts are driving demand for specialist consultancy and delivery support, which both firms seek to address together.
Strategic context
Tom Melville, chief executive officer of CubeMatch, said: "Our partnership with DVCP marks a significant step forward in our UK growth strategy. By bringing together DVCP's respected team of specialists and our own expertise, we are uniquely positioned to help clients tackle the most complex technology and regulatory challenges in financial services. We have a strong balance sheet and are well positioned to deliver on our strategy, delivering agile, expert-led transformation and innovation to clients globally, while continuing to seek additional acquisitions throughout this year."
CubeMatch's current locations extend beyond the UK and Ireland to include Benelux, Germany, Singapore and India, working with major banks and financial services organisations across these markets. The acquisition of BGK earlier this year has also given CubeMatch a significant opportunity within the DACH region (Germany, Austria, Switzerland), building on BGK's three-decade experience in digital transformation for financial firms.
DVCP's perspective
Tom Saunders, CEO and co-founder of DVCP, said: "Culturally and operationally, CubeMatch is an ideal partner for DVCP. Our shared values, collaborative approach, and commitment to delivering great client service make this a natural fit. We've always had exceptional capability. Partnering with CubeMatch extends and strengthens the range of services we offer. We are excited that we'll be able to offer our clients comprehensive support in design and execution of transformations and programme assurance."
The phased deal structure is set to complete over the course of the next 18 months. DVCP's involvement will enable CubeMatch to broaden its scope of services and address the expanding needs of financial services firms navigating transformation and regulatory landscapes.
The collaboration between CubeMatch and DVCP will also see both companies' leadership teams working together. Image captions in the release identify key personnel involved: Jacob Koshy, CubeMatch Founder and Group CFO; David Campbell, DVCP Co-founder and Transformation Director; Tom Melville, CubeMatch Group CEO; Mhairi Kennedy, DVCP Co-founder and Chief Operating Officer; Tom Saunders, DVCP Co-founder and Chief Executive; and Tom Lane, CubeMatch Group Chief Operating Officer.
CubeMatch's plans for further growth in the UK remain in place, targeting both organic expansion and additional acquisitions as market trends drive increased demand for change and transformation services in financial services, particularly in areas involving digital and regulatory change.
