Business advisory firm AlixPartners LLP is hoping to channel the banking channel expertise of industry experts Bob Hedges and Teresa Epperson.

AlixPartners on Tuesday said that it acquired their Boston-based financial services consulting firm, Mercatus LLC. As part of the deal, Hedges and Epperson will join AlixPartners as managing directors and will focus on growing the company's financial services practice.

Hedges and Epperson will add "unparalleled retail and consumer expertise complementing our expertise in such areas as cost reduction, sales management, footprint optimization and overall organizational restructuring," Fred Crawford, the chief executive of AlixPartners, said in a press release.

Prior to starting Mercatus in 2006, Hedges spent 12 years in senior operating and leadership roles at Shawmut Bank, FleetBoston and Fidelity Investments. Epperson, a founding partner of Mercatus, also worked in leadership roles at FleetBoston and Fidelity Investments.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.