Accenture to Acquire Faculty, Gets AI Talent Boost

Accenture is acquiring Faculty, a UK-based AI services company, for over $1bn.  

Faculty emphasises safe and ethical AI systems build with customer collaboration, and profiles a number of clients on its website including the UK's National Health Service.

CEO of Faculty, Marc Warner, will become CTO of Accenture. 

Accenture will acquire 400 AI native professionals, including data scientists and AI engineers.

Motive Partners Takes $100m Stake in Electric Mind

Motive Partners has taken a $100m stake in Electric Mind (henceforth "EM") described as a "a high-growth, AI-led services firm grounded in engineering excellence". 

"EM"'s former name was Intelliware, and Electric Mind is a "rebranding for the age of AI", with a go-forward focus on growth in wealth and alternative investments.

The plan is to have a close collaboration, with leaders of both firms joining the company's Board. 

Richard Lumb, Motive Industry Partner, will join the Board (former Group CEO of Financial Services at Accenture) as will Sreeram Visvanathan, Head of Motive Create (innovation and value creation engine within Motive Partners) and former CEO of IBM UK and Ireland.

To scale impact across financial services, the Investor-Operator-Innovator (IOI) model of Motive will be brought to bear bringing expertise, connectivity and operational support.

Accenture Picks Ex "Legal Eagle" Julie Sweet as CEO, Incumbent CEO Supports with "Right Person" Comment

Accenture (NYSE:ACN)  has picked 51-year old Julie Sweet as CEO after serving on the company's management committee for almost a decade. She has headed Accenture's North America operations since 2015 She has said looking for diversified revenue growth will be a key priority for her. She has previously been a Partner for 10 years at Cravath, Swaine and Moore. "Julie is the right person", assented current interim CEO David Rowland who will step into the role of Executive Chair. Non-Executive Chair Marge Magner, speaking on behalf of the board, cited Julie's "ability to forge major client relationships", "leading with innovation" and "focus on delivering value to shareholders" as key strengths which will serve her well as CEO. She is a member of the TechNet Executive Council.