(Bloomberg) Accenture Ltd., the world?s second- biggest consulting company, named Pamela Craig as chief financial officer to replace Michael McGrath, who is moving to the position of international chairman.

Craig, 49, takes over from McGrath on October 31, Accenture said in a statement today. She has worked at Accenture for 24 years and has been senior vice president of finance since 2004. The appointment comes as Bermuda-based Accenture boosts profit by cutting administrative expenses and shifting work to India, where labour costs are lower. The company is trying to spark sales growth by winning more contracts to manage customers? human resources and purchasing departments.

McGrath, 60, ends his second stint as Accenture?s CFO. He served in the post from 1997 to 2001 and returned in July 2004 to replace Harry You, who became Oracle Corp.?s CFO and is now chief executive officer of BearingPoint Inc., a competitor.

Shares of Accenture gaine 18 cents to $28.24 in New York Stock Exchange composite trading.