Oliver Wyman
From Wikipedia, the free encyclopedia
 |
|
| Type | Subsidiary of Marsh & McLennan |
|---|---|
| Founded | 1984; became Oliver Wyman in 2007 |
| Headquarters | 40 offices in 17 countries (Oliver Wyman) |
| Key people | John P. Drzik, President |
| Industry | Management consulting |
| Products | Management consulting services |
| Revenue | US$ 1.5 Billion in 2007 |
| Employees | 2900 employees (Oliver Wyman) |
| Website | www.oliverwyman.com |
Oliver Wyman is an international management consulting firm. It was created in May 2007, when Mercer Oliver Wyman joined with Mercer Management Consulting and Mercer Delta to become one firm named Oliver Wyman. Oliver Wyman is headquartered in New York City with 40 offices in Americas, Europe and Asia Pacific and employs over 2,900 professionals. It is part of the Oliver Wyman Group, which is a business unit of Marsh & McLennan.
Oliver Wyman is an established leader in the Financial Services consulting industry and has also been described by The New York Times as "a leader in general business consulting". It is one of the business groups that provides Marsh & McLennan with an edge over other insurance brokers.[1] Adrian Slywotzky, a prominent business consultant and author of several books, is a partner at Oliver Wyman.
Contents |
[edit] History
Oliver Wyman was formed in May 2007 through the combination of three global consulting businesses :
- Mercer Oliver Wyman: specialized in Banks, insurance and Financial Services
- Mercer Management Consulting: management consulting firm for industry and services
- Mercer Delta: expert in organizational transformation, board effectiveness and CEO leadership development
Marsh & McLennan Companies (MMC) is the parent company of Oliver Wyman.[1]
In 1984, Oliver, Wyman & Company was founded by Alex Oliver and Bill Wyman - former partners from Booz Allen Hamilton. In 2003, Oliver, Wyman & Company was bought by MMC and became part of its Mercer Consulting businesses under the name Mercer Oliver Wyman.
Mercer Management Consulting was formed through the combination of Temple, Barker & Sloane, which was founded in Boston in 1970 and acquired by MMC in 1987, and Strategic Planning Associates, which was founded in Washington, D.C. in 1972 and acquired by MMC in 1990. The two companies merged in 1990 as Temple, Barker & Sloane/Strategic Planning Associates, which was renamed Mercer Management Consulting in 1992.
Mercer Delta was founded in New York in 1980 by Dr. David Nadler as Delta Consulting and was acquired by MMC in 2000.
In recent years, Oliver Wyman has been growing rapidly both organically and through strategic acquisitions. In 2008, it acquired several consulting firms, including: ChapterHouse, Academee(UK), Hemeria(France), Celent, and Harbour Consulting.
Oliver Wyman is also the proud sponsor of the Christ Church Boat Club, one of the oldest and most prestigious boat clubs of the constituent colleges of the University of Oxford.
[edit] Oliver Wyman Group
Oliver Wyman is part of Oliver Wyman Group which includes:
- NERA Economic Consulting (microeconomic consulting)
- Lippincott (brand, image and identity consulting)
[edit] Industries & Capabilities
[edit] Industries
- Automotive
- Aviation, Aerospace & Defense
- Communications, Media & Technology
- Energy
- Financial Services
- Corporate & Institutional Banking
- Insurance
- Retail & Business Banking
- Wealth & Asset Management
- Public Policy
- Industrial Products & Services
- Health & Life Sciences
- Retail & Consumer Products
- Surface Transportation
[edit] Capabilities
- Business Transformation
- Corporate Finance and Advisory
- Delta Organization & Leadership
- Organization Design & Transformation
- Enterprise Leadership & Board Effectiveness
- Executive Learning Center
- Finance & Risk
- Marketing & Sales
- Operations & Technology
- Strategy
[edit] Thought leadership
The Future of the Global Financial System: A Near-Term Outlook and Long-Term Scenarios[2]
Oliver Wyman Financial Services led the research and analysis for this 2009 World Economic Forum publication that explores the driving forces that are shaping the global financial system and how these forces might affect governance and industry structure.
2009 State of the Financial Services Industry report
This publication, the 12th edition, focused this year on the strategic implications of the global financial crisis, including likely changes to the structure and regulation of the industry and opportunities arising from the crisis.
2009 State of the Communications, Media, and Technology Industry report
This publication analyzes the performance of 450 public CMT companies and identifies key value migration trends in the industry.
[edit] Non-profit partnerships
Oliver Wyman Group partners with non-profit organizations that work to improve the lives of people in the developing world through microfinance, healthcare, and education. Alliances with non-profits include:
- Kiva.org - the person-to-person microlending website
- Acumen Fund – a global venture fund that uses entrepreneurial approaches to solve the problems of global poverty
- Room to Read – an international non-profit organization devoted to breaking the poverty cycle by providing educational resources and opportunities to underprivileged children in the developing world
- Women’s World Banking – a global network of 54 microfinance providers and banks, working in 30 countries to bring financial services to poor women entrepreneurs to enable them to grow their businesses and lift their families out of poverty
[edit] Comparison to Competitors
Oliver Wyman was ranked as the 8th most prestigious consulting firm by Vault in 2009.[3] In addition, OW was ranked 3rd in financial consulting and 2nd in compensation for the consulting industry in 2009 in Vault's rankings.[4] Consulting Magazine has ranked MOW one of the top 10 consulting firms to work for in 2005, 2006, and 2007.[5]
[edit] Recruiting
Oliver Wyman recruits into three different tracks: Financial Services, General Management Consulting, and Delta Organization & Leadership. The Financial Services and General Management Consulting tracks recruit primarily undergraduates on university campuses. Unlike similar companies, Oliver Wyman does not have a fixed length program for undergraduates, but instead believes in developing new hires to eventually take leadership positions in the firm. Relative to other consulting companies, there is an extremely fast path to become a director (equivalent to partner). The standard period for an undergraduate hire to become a director is six to eight years, with some making director just five years after graduation.
Oliver Wyman also recruits experienced hires.
[edit] References
- ^ a b Treaster, Joseph B. "Trying to Find the Upside After a Scandal", The New York Times, May 23, 2007. Accessed October 21, 2007. "The Marsh & McLennan umbrella includes a number of big names in financial services, from the signature Marsh insurance division to Mercer Human Resource Consulting to Oliver Wyman, a leader in general business consulting, and Kroll, which advises on security and corporate intelligence. None of the other insurance brokers can match Marsh & McLennan with these broader resources, analysts say."
- ^ The Future of the Global Financial System
- ^ The Top 50 Most Prestigious Firms - 2009, Vault.com
- ^ Oliver Wyman profile, Vault.com
- ^ The Best Firms to Work, Consulting Magazine
