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Accenture (NYSE: ACN) has hired Andre Israel as managing director and head of the company’s core banking consulting services for its financial services practice, effective immediately.

In his new role, Israel leads Accenture’s consulting services globally for financial institutions looking to increase their efficiencies and introduce new digital technologies by upgrading or replacing their central lending, deposit and payments IT infrastructure. Israel is responsible for developing and growing the practice, which sells, architects and delivers core banking technology and business transformation programs and solutions for clients.

“Large banks face a bold new frontier of emerging technologies but rely on systems that are often no longer fit for purpose,” said Sushil Saluja, senior managing director and head of Accenture’s financial services practice in Europe. “Most recognize the urgency in implementing concepts like ‘open banking’ and fintech innovations, where investments need to be balanced against margin pressures being driven both by competition and regulations such as PSD2 and GDPR.”

“To meet these challenges and build a bridge between legacy IT and a digital future they will require skills and scalable resources. Andre’s expertise in this area makes an excellent addition to our capabilities in helping our clients pivot to the new, and we welcome him,” added Saluja.

Israel joins Accenture with nearly three decades of experience in systems implementation, program management, general management and M&A. Most recently he served as group chief executive of SOFGEN, a TechMahindra Company. He began his career at Coopers & Lybrand in 1986 after graduating from University of Cape Town in South Africa. Based in Geneva, Switzerland, Israel reports to Saluja. Accenture serves 42 of the world’s top 50 banks.