FDM Group

Last updated

FDM Group Limited
Formerly
  • FDM Group Plc (2005–2010)
  • F.D.M. Group Plc (1998–2005)
  • The Longueville Group Plc (1995–1998)
  • Flavell Divett International Plc (1991–1995)
  • Teamsquare Plc (1990–1991) [1]
Company type Public
LSE:  FDM
Industry IT Services
FoundedSeptember 25, 1990;33 years ago (1990-09-25) [1]
Headquarters
London
,
United Kingdom
Number of locations
18
Key people
Services
RevenueIncrease2.svg £334.0 million (2023) [2]
Increase2.svg £55.0 million (2023) [2]
Increase2.svg £40.8 million (2023) [2]
Number of employees
5,500 (2024) [3]
Website fdmgroup.com

FDM Group Limited [1] is a British multinational information technology (IT) consulting company headquartered in London, United Kingdom. It is composed mostly of university graduates, returners to work and ex-military personnel, who are trained in the FDM Group academies before working as consultants for one of FDM Group's clients, primarily financial institutions and banks around the world. It is listed on the London Stock Exchange.

Contents

History

FDI was founded in Brighton by Rod Flavell, who became chief executive, and his wife, Jacqueline Flavell, in 1990. [4] They were joined by Brian Divett, who became chairman, and Julian Divett, who became chief operating officer, and the firm was named Flavell Divett. [5] The company focused on IT recruitment until acquiring Mountfield Software in 1995. [4] In 1998 the name changed to FDM Group to reflect this acquisition and the company began hiring, training and placing their own consultants (called Mounties) on-site with their clients. [6]

In April 2005, FDM Group floated on the Alternative Investment Market, raising £3 million net for the company. [7] By 2009, the company completed a management buyout led by Rod and Sheila Flavell and Andy Brown, with the support of Inflexion, to once again bring the company private. [8] In June 2014, FDM listed on the UK Stock Market, this time valued at £308 million on the London Stock Exchange. [9]

Services

In March 2024 FDM Group underwent a brand refresh. As part of their new identity and offerings, FDM unveiled five specialist practices to deliver business and tech consultancy services. The five practice areas are: Software Engineering, Data & Analytics, IT Operations, Change & Transformation and Risk, Regulation & Compliance. [10]

Training and initiatives

FDM Group's model involves recruiting recent university graduates, returners to work and ex-forces to turn into consultants for their clients. Individuals go through several weeks of training in one of FDM Group's academy facilities before signing a two-year contract with the company to work as a consultant. As consultants, the employees work on the site of their clients which are mostly in the banking and finance industry. [11]

FDM Group has a Women in IT initiative focused on hiring and inspiring women to pursue jobs in STEM fields. As part of their efforts, they have sponsored the 2013, 2014, 2015 and 2016 everywoman in Technology Awards in London. [12] FDM Group sponsored the Wall Street Rocks charity concert. [13]

Concerns have been raised over the contracts signed by the company's trainees. In 2018, Frank Field, a Member of Parliament in the UK, wrote a letter to government's business secretary, asking for an official inquiry into their business practices. The letter also raised "significant doubts" about whether the £20,000 fees imposed if candidates leave the programme before their two-year period reflected the true costs of training. The scheme was likened to indentured servitude. [14] Legal challenges were raised against both FDM and Capita, another outsourcing organisation, over the fees. One former trainee of FDM told The Guardian that they did not enjoy the job in which they were placed, that the training included general advice, such as how to write emails, and that there was "so much room for manipulation and coercion in the contract". [15] FDM abolished exit fees in April 2022 after confirming they had not chased graduates for fees for a number of years. [16]

In 2018, the Ministry of Labour in Ontario, Canada ruled that the fee charged by FDM to a worker who left a job at the Royal Bank of Canada before their contracted period was illegal under the Employment Standards Act. Following the ruling, FDM Group reworded their contract but retained the fee. [17]

Related Research Articles

<span class="mw-page-title-main">Accenture</span> Irish multinational consulting company

Accenture plc is a US multinational professional services company based in Dublin, specializing in information technology (IT) services and consulting. A Fortune Global 500 company, it reported revenues of $64.1 billion in 2023. Accenture's current clients include 91 of the Fortune Global 100 and more than three-quarters of the Fortune Global 500. As of 2022, Accenture is considered the largest consulting firm in the world by number of employees.

A consultant is a professional who provides advice or services in an area of specialization. Consulting services generally fall under the domain of professional services, as contingent work.

<span class="mw-page-title-main">McKinsey & Company</span> US-based worldwide management consulting firm

McKinsey & Company is an American multinational strategy and management consulting firm that offers professional services to corporations, governments, and other organizations. Founded in 1926 by James O. McKinsey, McKinsey is the oldest and largest of the "Big Three" management consultancies (MBB). The firm mainly focuses on the finances and operations of their clients.

<span class="mw-page-title-main">Capgemini</span> French multinational corporation

Capgemini SE is a French multinational information technology (IT) services and consulting company, headquartered in Paris, France.

Housing Development Finance Corporation was an Indian private sector mortgage lender based in Mumbai. It was the biggest housing finance company in India. It also had a presence in banking, life and general insurance, asset management, venture capital and deposits through its associate and subsidiary companies.

A consulting firm or simply consultancy is a professional service firm that provides expertise and specialised labour for a fee, through the use of consultants. Consulting firms may have one employee or thousands; they may consult in a broad range of domains, for example, management, engineering, and so on.

Capita plc is an international business process outsourcing and professional services company headquartered in London.

A management contract is an arrangement under which operational control of an enterprise is vested by contract in a separate enterprise that performs the necessary managerial functions in return for a fee. Management contracts involve not just selling a method of doing things but actually doing them. A management contract can involve a wide range of functions such as technical operation of a production facility, management of personnel, accounting, marketing services, and training.

<span class="mw-page-title-main">Teleperformance</span> Multinational France-based omnichannel outsourcer

Teleperformance SE is a multinational company founded in 1978 with headquarters in France. They provide services for debt collection, telemarketing, customer relationship management, content moderation, and communication.Its services are operated in over 300 languages and dialects on behalf of companies in various industries.

<span class="mw-page-title-main">CGI Inc.</span> Canadian multinational information technology company

CGI Inc. is a Canadian multinational information technology consulting and Software Development company headquartered in Montreal, Quebec, Canada. CGI went public in 1986 with a primary listing on the Toronto Stock Exchange. CGI is also a constituent of the S&P/TSX 60 and has a secondary listing on the New York Stock Exchange.

<span class="mw-page-title-main">Teach First</span> British educational non-profit organization

Teach First is a social enterprise registered as a charity which aims to address educational disadvantage in England and Wales. Teach First coordinates an employment-based teaching training programme whereby participants achieve Qualified Teacher Status through the participation in a two-year training programme that involves the completion of a PGDE along with wider leadership skills training and an optional master's degree.

<span class="mw-page-title-main">Employment agency</span> Organization which matches employers to employees

An employment agency is an organization which matches employers to employees. In developed countries, there are multiple private businesses which act as employment agencies and a publicly funded employment agency.

Lillian Lincoln Lambert is an American businesswoman, and the first African-American woman to graduate from Harvard Business School (HBS), where she was one of the co-founders of the African-American Student Union. She graduated in 1969 and received the W. E. B. Du Bois award. After holding down a number of different jobs she started her own building services company, Centennial One, in 1976. After she sold that, she engaged in public speaking and published a memoir.

The human resource consulting industry has emerged from management consulting and addresses human resource management tasks and decisions.

A Practice Enterprise is a practice company that runs like a real business silhouetting a real enterprise's business procedures, products and services. A Practice Enterprise resembles a real company in its form, organization and function. Each Practice Enterprise trades with other Practice Enterprises, following standard commercial business procedures in the Practice Enterprise worldwide economic environment. It offers a ‘learning-by-doing’ training programme with the aim to better prepare young people for their future careers and to increase their entrepreneurship potential through running their own Practice Enterprise.

Mercer is an American consulting firm founded in 1945. It is one of the four operating subsidiaries of global professional services firm Marsh McLennan. Mercer is headquartered in New York City with offices in 43 countries and operations in 130 countries. The company primarily provides human resources and financial services consulting services to its clients.

<span class="mw-page-title-main">Boston Consulting Group</span> Global management consulting firm

Boston Consulting Group, Inc. (BCG) is an American global management consulting firm founded in 1963 and headquartered in Boston, Massachusetts. It is one of the Big Three along with McKinsey & Company and Bain & Company. Since 2021, the consultancy has been led by the German executive Christoph Schweizer.

<span class="mw-page-title-main">Bain & Company</span> Global management consulting firm

Bain & Company is an American management consulting company headquartered in Boston, Massachusetts. The firm provides advice to public, private, and non-profit organizations. One of the Big Three management consultancies, Bain & Company was founded in 1973 by former Group Vice President of Boston Consulting Group Bill Bain and his colleagues, including Patrick F. Graham. In the late 1970s and early 1980s, the firm grew rapidly. Bill Bain later spun off the alternative investment business into Bain Capital in 1984 and appointed Mitt Romney as its first CEO. Bain experienced several setbacks and financial troubles from 1987 to the early 1990s. Romney and Orit Gadiesh are credited with returning the firm to profitability and growth in their sequential roles as the firm's CEO and chairman respectively.

Alexander Forbes Group Holdings, commonly referred to as Alexforbes is a diversified financial services organisation. The company is headquartered in Johannesburg, South Africa, with a presence in two other countries on the African continent: Namibia and Botswana and in the Channel Islands through an offshore Jersey operation.

Alexandra Depledge is a British technology entrepreneur, known best for being the founder and CEO of Resi, and as the founder and former CEO of Helpling, formerly known as Hassle.com. In 2016 she was awarded an MBE for services to the sharing economy.

References

  1. 1 2 3 "FDM Group Limited overview - Find and update company information - GOV.UK". Companies House . 25 September 1990. Retrieved 3 August 2023.
  2. 1 2 3 "Annual Results 2023". FDM Group. Retrieved 20 March 2024.
  3. ↑ "Employee Assistance Programme". FDM Group. Retrieved 12 February 2024.
  4. 1 2 "Fast Track 100". Fast Track. Archived from the original on 8 August 2016. Retrieved 5 March 2021.
  5. ↑ "Soap opera-style saga may still have long way to run". The Financial Times. 1 October 2009. Retrieved 5 March 2021.
  6. ↑ "FDM". Complete University Guide. Retrieved 2 June 2017.
  7. ↑ "FDM Group". Money and Business. 2 October 2005. Retrieved 2 June 2015.
  8. ↑ "How to buy back your business". Real Business. 9 October 2011. Retrieved 2 June 2015.
  9. ↑ "FDM Group completes IPO with £308.5m market cap". Global Capital. 17 June 2014. Retrieved 6 March 2020.[ permanent dead link ]
  10. ↑ "New initiative designed to 'revolutionise' global digital skills training". DPA on the net. Retrieved 26 March 2024.
  11. ↑ "Computing & IT Careers". FDM Group. Retrieved 2 June 2017.
  12. ↑ Kayleigh Bateman (20 March 2015). "Winners of the 2015 FDM everywoman in Technology Awards announced". Computerweekly.com. Retrieved 2 June 2017.
  13. ↑ "Wall Streeters Trade Pinstripes for Chords". New York Times. 12 July 2012. Retrieved 2 June 2017.
  14. ↑ Butler, Sarah (16 June 2016). "Government urged to investigate Capita and FDM Group's training schemes". The Guardian. Retrieved 4 June 2021.
  15. ↑ "Capita and FDM Group face legal action from former employees over exit fees". The Guardian. 1 June 2018. Retrieved 4 June 2021.
  16. ↑ "Exit fees get the axe from top graduate recruiters". City AM. 29 May 2022. Retrieved 26 March 2024.
  17. ↑ "Editorial | Ontario must end abuses by temp agencies". The Toronto Star. 25 August 2020. ISSN   0319-0781 . Retrieved 15 November 2021.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.