Jon Moynihan

From Wikipedia, the free encyclopedia
Jump to: navigation, search

Jon Moynihan, OBE (born 21 June 1948) is the former Executive Chairman of PA Consulting Group, the employee-owned firm of over 2,000 people, specialising in management and IT consulting, technology and innovation. [1] Moynihan joined PA Consulting Group in 1992, as CEO and retired at the end of 2013. In 1997 The Wall Street Journal published an article giving an extensive review of PA’s turnaround, focusing on Moynihan’s role in that.[2] In 1999, London’s The Sunday Times published an article discussing PA’s further success, highlighting Moynihan’s contribution to that.[3] Jon continues to chair Ipex Capital, the demerged venture capital arm of PA, helping to bring leading-edge new technology capabilities to the market. Prior to the creation of IPEX Capital, Jon chaired all of PA's dozen or so ventures from inception through to disposition. Six of PA’s ventures have been sold to date, the most successful being Meridica Inc (maker of a novel drug inhaler), sold for $125m, and UbiNetics Ltd (3G mobile phone technology), sold for $132.5m.[4][5][6] The Ipex portfolio currently includes Aegate, an innovative leader in the field of drug authentication, formed to provide a global solution to the burgeoning problem of counterfeit drugs;[7] Semblant, developer of new PCB coating technology; and PlaqueTec, a company developing a novel coronary biomarker medical device. Another company ProcServe continues to be a wholly owned business of PA Consulting Group, offering e-procurement solutions to both the Public and Private Sectors

History[edit]

Moynihan was awarded an Open Scholarship in Mathematics at Balliol College Oxford (BA and MA in Psychology and Philosophy - PPP), with further education at North London Polytechnic - now part of the London Metropolitan University (MSc in Applied Statistics), and the MIT Sloan School of Management (MS in Business and Finance). After leaving Oxford University, Moynihan worked at Track Records, the management company for The Who and other rock bands. He then worked in India and Bangladesh, for War on Want and Save the Children. On his return to the UK, he worked at Roche Products Ltd, the UK arm of Hoffman-La Roche, as product manager for various anti-cancer, anti-epileptic, and anti-anxiety and insomnia drugs, including Valium and Mogadon. After taking his degree at MIT, Moynihan worked first at McKinsey & Company in Amsterdam (1977–79), then at Strategic Planning Associates (which became Mercer Management Consulting, and latterly Oliver Wyman) in Washington DC (1979–81), and then as a partner at First Manhattan Consulting Group in New York, from 1981 to 1992.

Publications, references and articles by, to and about Jon Moynihan[edit]

Moynihan has been interviewed in and quoted by various publications, ranging from The Economist to the American Banker, Barrons and Newsweek. He has lectured on Strategy and on Leadership at Wharton; the University of Michigan; the Said School at Oxford; the London School of Economics; and Massachusetts Institute of Technology. He authored a series of reports on global trends in Managing for Shareholder Value.[8] He authored a 70-page handbook on trends in Banking M&A in the United States.[9]

Articles and publications by Jon Moynihan[edit]

New York Institute of Finance “Handbook of Currency and Interest Rate Risk Management” 1990 He contributed a still-referenced chapter, on Swap pricing and profitability measurement, to the first "Handbook of Currency and Interest Rate Risk Management".[10] Financial Times “Personal View: A slimming programme for fat cats” April 1993 Moynihan has written extensively on executive compensation and incentives, arguing that top executives are usually inappropriately incented and thus often over-rewarded, commencing with this article exploring the causes of this on the Financial Times opinion page.[11] The Wall Street Journal "The doomed cult of equities" January 1999 In this letter he predicted the dot-com crash.[12] The Independent “Fat cats can be key to success” March 1999 Jon used survey findings to discuss the optimal form of compensation scheme for top management that will maximise value for shareholders.[13] Financial Times “Managing in a downturn: Young companies could face experience problems” January 2001 Jon was interviewed as to how to manage in the coming downturn.[14] Financial Times “The high prices telecoms companies paid for 3G licences were irrational” November 2002 In this letter Jon reviewed the negative consequences of the 3G mobile phone spectrum auctions during the 1990s, arguing that while large amounts were garnered for National Treasuries, the industry itself was badly damaged.[15] The Wall Street Journal “Waiting for 3G: It's the handset, stupid” May 2004 was a prescient call for products such as Apple's iPhone.[16] Financial Times “The pensions black hole may not turn out as deep as we fear” January 2006 Jon has written on the UK pensions crisis, arguing for more realistic analysis of the problem, and calling for more proactive approaches by regulators and the Bank of England.[17] Financial Times “When a lawsuit can descend into economic lunacy for shareholders” October 2006 Jon challenged the litigation culture in the US in this letter.[18] Financial Times “A new chance to raise gilt issuance” June 2007 This article argues the main driver of compensation must cease to be comparison with competitors.[19] Financial Times “Big bonuses match big returns for shareholders” June 2007 In this letter to the Financial Times Jon defended high level top executive reward when it is tied to high creation of shareholder value.[20] Financial Times "Blame for liquidity crisis does not lie with Northern Rock alone" November 2007 In this lengthy letter to the Financial Times Jon reviewed the causes of the UK’s Northern Rock crisis, arguing that while Northern Rock had to carry part of the blame, UK regulators were also at fault.[21] MIT TechTV "Presentation on the future of the economy" January 2009 A presentation on the future of the economy, discussing reasons for the financial crisis and predicting consequences, as well as outlining Jon's positive view on the role of new technologies in bringing solutions.[22] The Wall Street Journal "Putting household appliances on a low-carbon diet" March 2009 Jon co-wrote an article with Peter Elliott in The Wall Street Journal about the Green Grid, foretelling the emergence of smart meters and smart appliances.[23] MIT alumni event "The economic decline of the West", October 2009 Jon gave a keynote speech at a MIT Alumni event in Frankfurt covering causes, solutions and likely outcomes of the economic decline of the West.[24] Lecture to an MBA class at the London School of Economics "The continued economic decline of the West", February 2012 In this hour long lecture Jon asks: “is the continued economic decline of the West inevitable? And what, if anything, can we do to stop it?” It was described as "A frighteningly persuasive lecture that makes it clear that even as the world gets richer, the West may get poorer." by Matt Ridley, author of 'The Rational Optimist'. The video generated considerable views, comments and interest online and in the press.[25] Capital Finance International “Frugality, Education, Infrastructure and Attitude Change is Needed in the West: We Should Not Rely on Keynesian Nostrums to Pull Us Through” August 2012 Jon argues the West's economic dilemma will not be solved until those countries have not just restructured their balance sheets, by significantly lowering expenditure, but have also significantly changed the mix of that expenditure.[26] The Times “$135 – $12 = the pay gap the West can’t bridge” August 2012 Jon writes that the West can’t compete with China on wages and is living beyond its means. On its day of publication, this was the most-read, the most-commented on, and the most-forwarded article on The Times website.[27] Financial Times Deutschland “We are heading for inflation and currency collapse” September 2012 Central Bank approaches to the Euro Crisis are just delaying the solution, and worsening the problem, argues Jon.[28] Financial Times Deutschland Letter to the editor September 2012 This letter follows the publication of Jon’s article, “We are heading for inflation and a currency collapse”.[29]

Articles referring to Jon Moynihan[edit]

The Times "Fur flies over consultancies' ad spend" June 2000 Jon was quoted in The Times of London as having a distaste for brand advertising in the consulting industry.[30] European Radio Network “Merkel and Hollande remain divided on Europe” August 2012 This article on Euranet discusses how the two leaders Merkel and Hollande are divided on Europe and how this is leading to a debate in France. The article then draws upon the content from Jon's interview in Le Nouvel Observateur.[31]

Articles about Jon Moynihan[edit]

The Economist “An incentive scheme that works: Pay purview, How one knowledge-intensive company has overhauled its incentives” August 1998 The Economist wrote about PA's unique approach to top level compensation, and Moynihan's role in formulating that approach, in 1998, showing that PA’s approach, adopted by only some 10% of companies, led to superior creation of shareholder value.[32] Financial Times “View from the top: Jon Moynihan of UbiNetics. Blue sky the other side of 3G” April 2003 An extensive report on UbiNetics, PA’s 3G Mobile Venture chaired by Jon Moynihan.[33] Financial Times “Advisers harness home-grown ideas. After the dotcom boom, PA Group is one of the few management consultancies continuing to run its own start-ups” September 2005 A review of PA's successful Ventures programme, and Jon's role in it.[34] Financial Times “Top talent schooled in introspection. Leadership development - PA Consulting uses self-analysis to strengthen succession” December 2005 Details of PA Consulting's unique approach to leadership development in an interview with the Financial Times.[35] Financial Times "Biscuit-free environment provides food for thought. PA Consulting reckons its ban has improved the quality of thinking at meetings" May 2007 The Financial Times wrote about Jon's hostile view regarding the pernicious influence of chocolate biscuits, and his successful and valuable campaign against them[36] A transcript from Jon's subsequent BBC radio interview on the same topic is available[37] Business Insider Analyst Presents A Terrifying Vision: THE DECLINE OF THE WEST August 2012 An overview of Jon’s LSE presentation looking at the challenges, potential actions and likely outcomes for the West’s economy.[38] Le Nouvel Observateur “The decline of the West?” August 2012 In this interview, Jon argues that the crisis is not due to a “normal” economic downturn, but rather to fundamental structural problems caused by the West living “beyond its means” for a long time.[39] BBC Radio Five Live “5 Live Drive” August 2012 Jon was interviewed about the economic decline of the West, on BBC Radio Five Live. The programme examines the state of the United Kingdom’s economy in light of ongoing recession and decreased GDP but improved employment figures.[40] Faro de Vigo “Western salaries in free fall” September 2012 Jon’s views on the economic decline of the West were discussed at length in the online version of Spanish newspaper Faro de Vigo.[41] Época “The West will not bounce back” September 2012 Jon was interviewed in Época, a weekly Brazilian news magazine.[42]

Charitable and voluntary activities, and other personal data[edit]

Jon was awarded the OBE in 1994. Moynihan is a Foundation Fellow of and, from 1995 to 2007, Chairman of the Campaign Board at Balliol College, which helped raise during his chairmanship some £35 million for the College and the Oxford Internet Institute. His leadership is considered important in transforming the College’s fundraising into a professional operation.[43] He was a founder member of the Dean's Council, MIT Sloan School of Management. He was a member of the Dean's Business Advisory Group at the Said Business School from 1999-2006. Jon was instrumental in encouraging a major benefaction to the School for the Ernest Butten Professorship of Management Studies.[43] He helped found, and was until recently Chairman of, The Helen Bamber Foundation, a charity headed by Helen Bamber that works with refugee victims of human rights violations. Helen Bamber Foundation In 2010 Jon was created a 'Distinguished Friend of Oxford'.[43] In 2012 he was appointed a Fellow of Gray's Inn. Jon has been a Member of Council at the Royal Albert Hall since 2012. Jon is a citizen of the United Kingdom and is married to Patricia Underwood, the Coty Award-winning hat designer and Board member of the Council of Fashion Designers of America.[44]

References[edit]

  1. ^ http://www.paconsulting.com/
  2. ^ The Wall Street Journal Europe (9 July 1997). Article by Shailagh Murray: "British Consultancy Found Needy Client In Its Own Office - PA Group's Overhaul Offers Lesson in How to Survive Increasingly Tight Sector"
  3. ^ The Sunday Times (7 March 1999). Article by John Waples: "Inspirational chief works wonders for PA Consulting"
  4. ^ PA Consulting Group (12 November 2004). Press release: "Pfizer completes acquisition of drug delivery technology venture from PA Consulting Group"
  5. ^ PA Consulting Group (23 May 2005). Press release: "PA Consulting Group and 3i announce sale of UbiNetics' testing business"
  6. ^ PA Consulting Group (28 July 2005). Press release: "PA Consulting Group and 3i announce sale of UbiNetics"
  7. ^ Financial Times (20 November 2006). Article by Andrew Baxter: "The war on drugs copycats"
  8. ^ Available from PA Consulting Group:"Request Managing for Shareholder Value publications"
  9. ^ Available from First Manhattan Consulting Group "First Manhattan Consulting Group"
  10. ^ New York Institute of Finance, 1990.
  11. ^ Financial Times (22 April 1993). Jon Moynihan: "Personal View: A slimming programme for fat cats"
  12. ^ The Wall Street Journal (26 January 1999). Article by Jon Moynihan: "The doomed cult of equities"
  13. ^ The Independent (31 March 1999). Article by Jon Moynihan: "Fat cats can be key to success"
  14. ^ The Financial Times (25 January 2001). Article by Michael Skapinker: "Managing in a downturn: Young companies could face experience problems"
  15. ^ Financial Times (28 November 2002). Article by Jon Moynihan: "The high prices telecoms companies paid for 3G licences were irrational"
  16. ^ The Wall Street Journal Europe (24 May 2004). Article by Jon Moynihan: "Waiting for 3G: It's the handset, stupid"
  17. ^ Financial Times (20 January 2006). Article by Jon Moynihan: "The pensions black hole may not turn out as deep as we fear"
  18. ^ Financial Times (24 October 2006). Article by Jon Moynihan: "When a lawsuit can descend into economic lunacy for shareholders"
  19. ^ Financial Times (26 June 2007). Article by Dr Ros Altmann, Professor Willem Buiter and Mr Jon Moynihan, Chairman of PA Consulting Group: "A new chance to raise gilt issuance"
  20. ^ Financial Times (20 June 2007). Article by Jon Moynihan: "Big bonuses match big returns for shareholders"
  21. ^ Financial Times (20 November 2007). Article by Jon Moynihan: "Blame for liquidity crisis does not lie with Northern Rock alone"
  22. ^ MIT TechTV (January 2009) Jon Moynihan: "Presentation on the future of the economy"
  23. ^ The Wall Street Journal (4 March 2009). Article by Jon Moynihan and Peter Elliott: "Putting household appliances on a low-carbon diet"
  24. ^ MIT alumni event (October 2009) PResentation by Jon Moynihan: "The economic decline of the west"
  25. ^ Lecture to an MBA class at the London School of Economics (February 2012) by Jon Moynihan: "The continued economic decline of the west"
  26. ^ Capital Finance International (20 August 2012) Article by Jon Moynihan: "Frugality, Education, Infrastructure and Attitude Change is Needed in the West: We Should Not Rely on Keynesian Nostrums to Pull Us Through"
  27. ^ The Times (August 2012) Article by Jon Moynihan: “$135 – $12 = the pay gap the West can’t bridge”
  28. ^ Financial Times Deutschland (September 2012) Article by Jon Moynihan: “We are heading for inflation and currency collapse”
  29. ^ Financial Times Deutschland (September 2012) Letter to the editor by Jon Moynihan
  30. ^ The Times (22 June 2000). Article by Des Dearlove: "Fur flies over consultancies' ad spend"
  31. ^ European Radio Network (24 August 2012). "Merkel and Hollande remain divided on Europe" Article by Matei Vişniec:
  32. ^ The Economist (28 August 1998). "An incentive scheme that works: Pay purview, How one knowledge-intensive company has overhauled its incentives"
  33. ^ Financial Times (16 April 2003). Article by Andrew Baxter: "View from the top: Jon Moynihan of UbiNetics. Blue sky the other side of 3G"
  34. ^ Financial Times (1 September 2005). Article by Andrew Baxter: "Advisers harness home-grown ideas. After the dotcom boom, PA Group is one of the few management consultancies continuing to run its own start-ups"
  35. ^ Financial Times (16 December 2005). Article by Alison Maitland: "Top talent schooled in introspection. Leadership development - PA Consulting uses self-analysis to strengthen succession"
  36. ^ Financial Times (29 May 2007). Article by Andrew Jack: "Biscuit-free environment provides food for thought. PA Consulting reckons its ban has improved the quality of thinking at meetings"
  37. ^ BBC World Service - Europe Today programme (29 May 2007). "PA's 'fruit and no biscuits' policy. Summary of broadcast radio interview by Manuela Zaragoza with PA's chairman Jon Moynihan"
  38. ^ Business Insider (August 2012) Article by Simone Foxman: "Analyst Presents A Terrifying Vision: THE DECLINE OF THE WEST"
  39. ^ Le Nouvel Observateur (23 August 2012) ~Article by Dominique Nora: "The decline of the West?"
  40. ^ BBC Radio Five Live (16 August 2012). Interview by Peter Allen: "5 Live Drive"
  41. ^ Faro de Vigo (3 September 2012) Joaquín Rábago: "Western salaries in free fall"
  42. ^ Época (17 September 2012) Interview by Rodrigo Turrer: "The West will not bounce back"
  43. ^ a b c University of Oxford: entry for Jon Moynihan in the '2010 Distinguished Friends of Oxford' [1]
  44. ^ Modern Fashion Encyclopedia: entry for Patricia Underwood: "The outstanding characteristic of millinery designer Patricia Underwood's hats is they are, for the most part, completely unadorned"

External links[edit]