BearingPoint CFO Leaves

Consulting and services firm BearingPoint, formerly KPMG Consulting, says executive VP and CFO Robert Lamb is leaving. Lamb is joining FleetBoston Financial, where he previously served for 14 years, including a stretch as controller from 1993 to 2000. He joined BearingPoint in June 2000.

Lamb's departure comes as BearingPoint and other large consulting firms face a weakened services market. Last week, BearingPoint reported that revenue for its fiscal first quarter rose 23% to $747.6 million, but much of that gain was driven by cash generated from acquisitions. Merrill Lynch analyst Stephen McClellan sees prospects for BearingPoint's core consulting business as "lackluster."

BearingPoint says it's searching for a replacement for Lamb.