BCG books global revenues of $7.5 billion with 19 percent growth

02 April 2019

Boston Consulting Group has booked its fifth consecutive year of double-digit growth, clocking global revenues of $7.5 billion last year.

Global strategy and management leader Boston Consulting Group has capped another busy year with record revenues of $7.5 billion. Starting 2018 off as The Boston Consulting Group prior to the completion of a visual overhaul and minor rebranding in December, the firm may have shed the ‘The’ but it’s managed to add more than $1.2 billion to its 2017 take – to be up by a huge 19 percent at constant rates.

The fifth consecutive year of double-digit growth for BCG – jumping from the 11 percent rise for the prior financial year – the firm noted strong growth across all regions and in both industry and functional areas, with its digital offering doubling in size to contribute significantly in around one third of its revenues across regions and practices. The firm stated that digital will continue to be a priority focus.

“The capabilities of our talented and diverse workforce, and our investment in innovation and cutting-edge solutions for our clients are at the root of our consistently strong performance,” said BCG CEO Rich Lesser. “At our core, we remain focused on the quality of our work, our long-term client relationships, and our commitment to driving large-scale positive change consistent with our values and purpose.”BCG books global revenues of $7.5 billion with 19 percent growthOver the past two years, the firm has also added around 4,500 employees across its locations in over 50 countries worldwide (including Omar Alshogre, an ex-political prisoner in Syria now employed at BCG in Sweden) – with the net 2,500 rise last year pushing the firm’s headcount out to 18,500-plus. BCG also added further capabilities last year, continuing with the recent acquisition of Australian data simulation company TSG.

“At the core of our business and our organisation is close collaboration – among our employees at all levels and with our clients. Working together, our people continually challenge themselves and their colleagues to develop and implement innovative new approaches, said Lesser. “As we look towards the next decade, we are deeply committed to ensuring that our clients are well-equipped to meet the challenges and opportunities of a fast-changing world.”

Meanwhile, the firm continues to give back to the region through its corporate social responsibility initiatives, including last week having hosted the launch event for its local Jeel Tamooh programme, which seeks to develop and inspire the next generation of business leaders in Saudi Arabia. Altogether, one hundred of the brightest local graduate students will participate in the training and mentorship programme.

“BCG recognises the value of personal development as a critical enabler of future success. We seek to attract talented individuals, and will empower them to learn and grow,” said BCG Middle East managing director Joerg Hildebrandt. “Jeel Tamooh is testament to our mission to support the positive development of societies we work in. As a global firm, we will share best practices and industry-leading knowledge, to prepare the enrolled students to thrive in a fast-changing world.”

Big name consultancies get new global leaders in 2019

30 January 2019

As the first month of the year draws to a close, already three of the world’s foremost global consultancies have named new chiefs and leaders to take over now or in the months ahead; EY, Accenture and Mercer

While the companies and circumstances diverge in certain respects, three of the world’s largest and most prominent consulting firms have already so far this year elevated or elected new global leaders; Martine Ferland as Mercer’s next President and CEO; Carmine Di Sibio to take over as head of EY; and David Rowland, named Accenture’s interim chief following the resignation of Pierre Nanterme for health reasons.

In the most recent announcement, Martine Ferland has been appointed to take the helm at Mercer – one of the world’s leading human capital consultancies – from the beginning of March, replacing incumbent CEO Julio Portalatin who has held the top role since 2012 and will now join Mercer parent Marsh & McLennan as a vice president. Ferland has been with the firm for eight years, currently serving as its Group President.

“Martine is a talented executive who possesses broad global experience and a proven record of success.  Her deep understanding of our business and clients, and more than 30 years of experience across the health, wealth and career spectrum, has uniquely prepared her for the challenge,” said Dan Glaser, CEO and President of Marsh & McLennan – alongside Oliver Wyman, also home also to insurance brokerage risk management firm Marsh, which recently launched a dedicated China desk in Dubai.Big name consultancies get new global leaders in 2019

Just one week previous, prior to the commencement of the World Economic Forum in Davos, Big Four professional services firm Ernst & Young announced Camine Di Sibio as its newly elected Global Chairman and CEO following current CEO Mark Weinberger’s decision to step down at the beginning of July, two years into his second four-year term. A noted driver of innovation at EY, Di Sibio presently serves as the firm’s Global Managing Partner - Client Service, originally joining EY in 1985.

“Carmine is an outstanding and inclusive leader who has a foundation in audit and in serving the largest EY clients,” Weinberger said of his experienced incoming successor. “He is a leader who understands the importance of diverse and inclusive teams, and he knows how to engage people to reach their full potential. I believe the organisation has made an exceptional choice, and Carmine is the right EY Global Chairman and CEO in these transformative times.”

Meanwhile, earlier this month, professional services juggernaut Accenture named former Chief Financial Officer and 35-year company veteran David Rowland as its interim CEO effective immediately in the wake of Pierre Nanterme resignation due to health reasons, with Nanterme having been at the helm since 2011. While Rowland only takes over in the interim for now, his previous position has already been filled by former Finance Operations Managing Director KC McClure.

“I know that David’s significant involvement in developing and delivering our growth strategy to rotate our business to new, high-growth areas of digital, cloud and security, and his tenure as a highly respected senior leader and developer of talent, will make this transition seamless,” Nanterme said, noting that for his entire 36-year career, the now Accenture advisor has “never been more confident” in the firm’s “business strategy, leadership team and people”.

Elsewhere at the top

With all of McKinsey, A.T. Kearney and Bain & Company welcoming new global leaders in just the past twelve month – Kevin Sneader as Global Managing Partner at McKinsey and Alex Liu and Manny Maceda in the corresponding roles at Bain and A.T. Kearney – there is still some potential movement elsewhere at the top of the consulting tree in the year ahead, including the as to the expectation that long-serving Cognizant CEO Francisco D’Souza will step down some time in 2019.

Elsewhere among the Big Four and leading strategy and management consultancies, Deloitte Global CEO Punit Renjen will be up for four-year reelection this year, while KPMG and PwC heads Bill Thomas and Bob Moritz will enter into their third and fourth years respectively. The BCG partnership, under the firm’s ‘one partner, one vote’ policy, reelected Rich Lesser for a third term as CEO last year, as did Roland Berger’s partnership for Charles-Edouard Bouée’s second term at the top. Of the biggest ten or so firms by consulting revenue, Capgemini head Paul Hermelin is perhaps the longest serving, holding the CEO role since 2001.