|Subsidiary of PwC|
|Predecessor||Booz & Company|
|Headquarters||New York City, US
57 offices around the world
|Les Moeller (Global leader)
Tony Poulter (Global consulting leader)
|Revenue||$1.3+ billion (2011)|
Number of employees
|Slogan||Strategy& is a global team of practical strategists committed to helping you seize essential advantage.|
Strategy& is a global strategy consulting team at PricewaterhouseCoopers established in the United States in 1914. The firm was acquired by PwC on April 4, 2014, and is active in a broad range of sectors, including Energy, Healthcare, Financial Services, Chemicals, Telecommunications, Automotive, Aerospace, Media, Technology and Fast-Moving Consumer Goods (FMCG).
The company has 57 offices around the world. 70 of the world's largest 100 corporations and 400 of the largest 500 US corporations are Strategy& clients and the firm has been involved in a number of important business episodes, including the dawn of the contract system for Hollywood movies, the merger of the National and American football leagues, and the rescue of the Chrysler corporation from bankruptcy. On October 30, 2013, it was announced that PwC would buy and merge with Booz & Company (owned by Booz Allen Hamilton until 2008), including the company's name and its 300 partners, subject to a December vote of the Booz & Company partners. The deal closed on April 4, 2014, and the firm was formally renamed to Strategy&.
After graduating from Northwestern University in Evanston, Illinois in 1914, Edwin G. Booz developed the business theory that companies would be more successful if they could call on someone outside their own organizations for expert, impartial advice. This theory developed into a new profession — management consulting — and the firm that would bear his name. Booz established a small consulting firm in Chicago, and two years later, he and two partners formed the Business Research and Development Company, which conducted studies and performed investigational work for commercial and trade organizations. This service, which Booz labeled as the first of its kind in the Midwest, soon attracted such clients as Goodyear Tire & Rubber Company, Chicago's Union Stockyards and Transit Company, and the Canadian & Pacific Railroad."
In 1970, Booz Allen went public with an initial offering of 500,000 shares at $24 per share. Trading continued through 1976.
The company was spun off from Booz Allen Hamilton in conjunction with a private equity takeover by The Carlyle Group in 2008. The firm represents the commercial portion of the consulting business, as well as all consulting operations with government entitites outside the United States. Booz Allen Hamilton was then focused exclusively on U.S. government consulting endeavors. However, as Booz Allen Hamilton's three-year noncompete provision has expired, it is now building out its commercial consulting practice focusing on technology integration and cybersecurity programs.
The company purchased Katzenbach Partners for an undisclosed sum in 2009, and has since launched the Katzenbach Center focused on the development and application of innovative ideas for organizational culture and change.
In 2012, Axon Advisory Partners joined the company to launch Booz Digital, a full-service team of strategists, designers and technologists who "help companies turn ideas into transformational digital businesses".
In April 2013, Booz & Company acquired international consulting firm Management Engineers for its operations expertise and experience in industries such as manufacturing, chemicals and industrials. Through the acquisition, Management Engineers added 17 partners and 145 staff to Booz & Company, along with a market position in Germany, as well as China, the UK and the US.
On October 30, 2013, Booz & Company announced it would be sold to PricewaterhouseCoopers as part of a conditional merger pending regulatory approval and the vote of Booz partners scheduled for December 2013. Booz partner's voted in favor on December 23, 2013, and the deal was closed in early April, 2014. The acquisition, and subsequent change of name from Booz & Company to Strategy&, was announced on April 4, 2014. The name, pronounced "Strategy and", was widely criticized at the time, but was required by an agreement with former parent Booz Allen Hamilton that the Booz name or variants could never be used in conjunction with a new legal entity.
Over the years, Booz has been credited with developing some of the important concepts in business. The firm coined the terms and developed the concepts of supply chain, supply chain management, product life cycle, the PERT Chart and organizational DNA.
The firm publishes the majority of its research in its quarterly management magazine Strategy+Business, which in 2009 was one of just two business magazines to grow its circulation, along with the The Economist. Strategy& also publishes several studies annually:
- Study of CEOs, Governance, and Success  Examining CEO successions and success among the world’s top 2,500 public companies.
- Global Innovation 1000  A study of R&D investment at the 1,000 biggest-spending public companies in the world.
- Industry Perspectives  Outlooks on major trends, challenges, and opportunities companies can expect to see in different sectors.
The firm also regularly publishes cross-industry research related to its four major platforms: Capabilities-Driven Strategy, Deals, Digital, and Fit for Growth.
(Fit for Growth is a registered service mark of PwC Strategy& LLC in the United States.)
The Katzenbach Center at Strategy& has generated a research on the importance of fostering companies' informal organization to improve corporate performance. In a white paper entitled "Fast Track to Recovery" and the book Leading Outside the Lines, Booz Partner Jon Katzenbach uses various case studies to illustrate the exchange between the formal and the informal elements of organizations.
Strategy& has had a hand in several notable private and public engagements throughout its years. The dawn of the contract system for Hollywood movies, the merger of the National and American football leagues, the rescue of the Chrysler corporation from bankruptcy, and the creation of Deutsche Telekom from government agencies that had grown up on both sides of the Iron Curtain all involved Booz assignments.
In 2007, the firm had roughly 150,000 applicants and 1033 new jobs. Strategy& is the second largest recruiter at Columbia Business School (behind McKinsey) and the third largest recruiter at INSEAD (behind McKinsey and Boston Consulting Group, respectively).
Notable companies founded by current and former employees
Strategy& employees have been known to exit into industry after consulting, as clients often look to hire them.
- Abigail Johnson — Vice Chairman, Fidelity Investments
- Akio Toyoda - President and CEO, Toyota
- Alex Oliver — Founding Partner, Oliver Wyman
- Ari Bousbib — President, United Technologies
- Arthur D. Collins, Jr. — CEO and Chairman of the Board, Medtronic Inc.; Board of Directors, Boeing; Senior Advisor, Oak Hill Capital
- Bill Jackson — Senior VP and President, Sears Holding Corporation, Automotive
- Bill Wyman — Founding Partner, Oliver Wyman
- Bob Bakish — President, MTV International
- Brian Murray — President and CEO, HarperCollins Publishers
- Charles L. Teschner, Jr. — Executive VP of Global Strategy, McGraw-Hill Companies
- Daniel Weiss — President, Lafayette College
- David Newkirk — CEO of Executive Education, University of Virginia's Darden School
- David Steinberger — President and CEO, Perseus Books Group
- Deven Sharma — President, Standard & Poor's
- Eric Spiegel — President and CEO, Siemens Corporation
- Florent Perrichon — President and CEO, Cerruti
- Gerry Horkan — Senior Vice President of Corporate Strategy, Yahoo!
- Ghassan Hasbani — CEO, Saudi Telecom Company
- Gregory Fleming — President, Morgan Stanley Investment Management; Senior Research Scholar, Yale Law School; former President and COO, Merrill Lynch
- Ivan Menezes — President, North America and Chairman, Asia Pacific, Diageo
- Jim Rosenthal — CEO, Kaplan Professional
- Joanna Earl — COO, Current TV
- Joe Simon — EVP & CIO, Viacom
- Jonathan S. Bush — President, CEO, and Co-founder of athenahealth
- Jorge Espinel — Executive Vice President of Strategy and Corporate Development, News Corporation
- Josh Silverman — CEO, Skype
- Jurgen Buser — Group CFO, Thomas Cook Group
- Keith Fox — President, BusinessWeek
- Mark Moran — CEO and President, MetroHealth
- Martín Redrado — President, Central Bank of Argentina
- Matt Andersson, founder, Indigo Airlines
- Michael S. Gliedman — SVP, Chief Information Officer, National Basketball Association
- Michael Wolf — former COO and President, MTV Networks
- Nancy McKinstry — CEO, Chairman of the Executive Board, Wolters Kluwer
- Pascal Cagni — General Manager Europe, Apple
- Paul Idzik — former COO, Barclays PLC
- Randy Lake — Executive VP & General Manager, Sony Pictures Imageworks
- Raymond J. Lane — Partner, Kleiner, Perkins, Caufield & Byers; former President and COO, Oracle Corporation
- Rhonda Germany — VP of Strategy & Business Development, Honeywell Inc.
- Richard Beyer — Chairman of the Board and CEO, Freescale Semiconductor
- Richard Gay — Executive VP, Strategy & Operations, MTV and VH1 Networks
- Rohit Bhagat — COO, Barclays Global Investors
- Christopher Bland — Chairman, Royal Shakespeare Company; former Chairman of British Telecommunications; former Olympic fencer
- Sanju Bansal — COO & Vice Chairman, MicroStrategy
- Steven Heyer — CEO, Harry & David; Director, Lazard; former CEO, Starwood Hotels; former President and COO, Coca-Cola; former President, Turner Broadcasting
- Tim Collins — Founder and Chief Executive of Ripplewood Holdings
- Todd Larsen — President, Dow Jones & Company
- Tom Hansson — Senior VP of Strategy & Corporate Development, Sara Lee Corp.
Politics and public service
- Wendy Alexander - Labour Party Leader and Member of the Scottish Parliament (MSP).
- Karol Joseph "Bo" Bobko - Retired United States Air Force officer and a former USAF and NASA astronaut.
- Keith R. Hall - Director, National Reconnaissance Office (1997-2001); formerly Executive Director for Intelligence Community Affairs
- Steve Isakowitz - Department of Energy Chief Financial Officer. Former Deputy Associate Administrator, NASA, 2002-2005
- William Benjamin "Bill" Lenoir (Ph.D.) - Former NASA astronaut].
- George E. Little - Media Relations, Central Intelligence Agency (2007-)
- John M. McConnell - Director of National Intelligence (2007-); formerly Director of the National Security Agency (1992–96); retired in 1996 as Vice Admiral, United States Navy
- Zoran Jolevski - Ambassador of the Republic of Macedonia in the US.
- Thomas S. Moorman Jr. - Commander, Air Force Space Command (1990–92); Vice Chief of Staff, U.S. Air Force (1994-1997)
- Michael C. Mullen - Assistant Commissioner, U.S. Customs and Border Protection
- Patrick Gorman - Chief Information Officer (CIO), and Assistant Deputy Director National Intelligence (ADDNI), Strategy, Plans, and Policy, ODNI
- Andrew Turnbull - Member, House of Lords (upper Parliament), United Kingdom (2005-); Head of British Civil Service (2002-2005)
- Melissa Hathaway - Director, National Cyber Security Initiative
- General Frederick Frank Woerner, Jr. - Retired United States Army general and former commander of United States Southern Command.
- R. James Woolsey, Jr. - Director of Central Intelligence Agency (1993–95)
- Dov Zakheim - U.S. government advisor
Notes and references
- "2016 Vault Rankings, Strategy&, part of the PwC network". vault. Retrieved 19 October 2015.
- INSEADofficial (2010-06-28). "ILSE: Joe Saddi, Chairman, Booz & Co". YouTube. Retrieved 2011-06-15.
- "PwC to bulk up with planned Booz & Company". ft.com. 2013-10-30.
- Michael Rapoport (April 3, 2014). "PricewaterhouseCoopers Renaming Booz & Co. as 'Strategy&'". Wall Street Journal.
- "Booz Allen History". Boozallen.com. Retrieved 2011-06-15.
- "JRANK Booz Allen Hamilton History". Companies.jrank.org. Retrieved 2011-06-15.
- "Booz, Allen & Hamilton, Inc. - Lehman Brothers Collection". Library.hbs.edu. Retrieved 2011-06-15.
- "Carlyle to Swallow Booz Unit". CFO.com. 2008-05-16.
- Boye, Will (2011-10-26). "Booz Allen expanding in Charlotte". bizjournals.com.
- Dvorak, Phred (23 April 2009). "Booz to Buy Katzenbach Partners". The Wall Street Journal.
- Kashmir, Margaret (11 December 2012). "Axon Advisory Partners Joins Booz & Company to Launch Booz Digital". Yahoo! Finance.
- Kashmir, Margaret (3 April 2012). "Booz & Company Closes Acquisition of Management Engineers". Yahoo! Finance.
- Marcinek, Laura and Greg Farrell (30 October 2013). "PwC Agrees to Purchase Booz to Expand Advisory Services". Bloomberg. Retrieved 3 November 2013.
- "Global Consulting Firm Booz & Company Approves Combination with PwC". pwc.com. 23 December 2013.
- "PwC completes its acquisition of Booz & Company". pwc.com. 3 April 2014.
- Tom Gara. "Introducing Strategy&: No, That’s Not a Typo". WSJ.
- 100 Best Companies to Work For 2008: Booz Allen Hamilton snapshot | FORTUNE