John F. Casey, Kevin P. Quirk, Christopher J. Acito, Jeb B. Doggett and David J. Bauer started their own consulting firm, Casey, Quirk & Acito. All were executives at BARRA Strategic Consulting Group, which closed today. Like BARRA Strategic, Casey, Quirk & Acito will provide a broad range of strategic advice to the investment management industry.
Mr. Casey is chairman of the new company, which will be located in Connecticut. The team is searching for offices now, he said. Mr. Casey was head of BARRA Strategic Consulting and a co-founder of investment consulting firm, RogersCasey. Mr. Casey said he anticipates that most clients will move over to Casey, Quirk & Acito, since the parent company is exiting the strategic consulting business.
Kamal Duggirala, CEO of BARRA Inc., the parent company, said the 20 staff members remaining at the unit are being laid off. "It was run as a venture within BARRA and has had business difficulties for a year. It was a strategic decision to close the division, Mr. Duggirala said.