Strategy&, part of the PwC network (formerly Booz & Company) Asia

THE SCOOP

From outsider to insider

Booz & Company is a global consulting firm that advises businesses, government ministries (outside the U.S.), and institutions around the world on issues of strategy, organization, operations, transformation and information technology.  It holds expertise in a vast range of industries, including aerospace, automotive, chemicals, consumer, energy and utilities, financial services, health, industrials, media and entertainment, oil and gas, retail, transportation and others.

The company, founded in 1914 by Edwin Booz, is one of the oldest consultancies in the world.  In its original incarnation, as The Business Research Service,lone staffer Booz conducted studies and investigational services.  The name Edwin G. Booz Surveys was adopted in 1924.  Despite then carrying a title befitting his one-man operation, Booz brought in two new employees (George Fry and James Allen) in the 1920s, and the firm's work began to draw attention from large clients like Goodyear, the Chicago Tribune, Montgomery Ward and the Canadian & Pacific Railroad.  Since then, the list of engagements the firm has worked on is perhaps best described as varied-it includes accomplishments that range from helping to organize the National Football League in the 1960s to advising on the breakup of AT&T in the 1980s, to restructuring Nissan Motors in the early 2000s.  Along the way, the company has come up with some revolutionary ideas in the consulting field, and credits itself with inventing concepts such as human capital in the 1940s, product life cycle in the 1950s, supply chain management in the 1980s, smart customization in the 1990s and, more recently, organizational DNA.

Down the middle

In May 2008, Booz Allen Hamilton announced that it was splitting its U.S. government business from its global commercial consulting business.  In conjunction with the split, the firm sold a majority stake in the U.S. government business to The Carlyle Group for $2.54 billion.  The commercial business became Booz & Company, a separate entity owned and run by its existing officers.  The U.S. government business continues under the Booz Allen Hamilton name, in partnership with Carlyle.  Heading up Booz & Company is U.S.-based CEO Cesare R. Mainardi, who had previously served as Chief Operating Officer of the firm and Managing Director of its North American business, and Chairman Joe Saddi, who is based in the Middle East. 

Why split a successful company?  Growing differences between the U.S. government and global commercial businesses had meant that the two groups were run differently and serviced vastly different types of clients.  Moreover, after the September 11 attacks, the U.S. government unit's revenue surged well beyond those of the commercial unit.  As a combined company, the firm generated over $4 billion in annual sales, with approximately one-third coming from the commercial side, even though two-thirds of the firm's partners worked in that unit. 

While CEO at the time Shumeet Banerji made all the right noises at the time of the split about continuing to partner with Booz Allen Hamilton "when our combined expertise helps our clients succeed," the deal struck between the two firms seems likely to undermine any sense of fraternal goodwill: a three year non-compete agreement expired in 2011, leaving both companies free to pursue business wherever they choose.

Hitting the books

Just as its founder did nearly 100 years ago, Booz continues to place a heavy emphasis on research.  The firm regularly publishes reports, white papers and books, and even publishes a quarterly magazine, strategy + business.  It also produces regular podcasted online talk shows on mergers and acquisitions.

IN THE NEWS

May 2012

Booz & Company releases 12th Annual CEO Succession Study

Booz & Company's 12th annual global study of worldwide CEO succession patterns examines the frequency, nature and geographic distribution of chief executive changes among the world's 2,500 largest public companies.  This year's report, "The New CEO's First Year" also reveals the challenges for the new class of CEOs who came into office in 2011, analyzes trends in global CEO turnover, and distills important advice from veteran CEOs. The study received widespread media coverage, with articles in the Wall Street Journal, Economist, and the Financial Times, among others.

April 2012

Booz & Company elects Cesare Mainardi as CEO

Booz & Company named Cesare Mainardi as the firm's chief executive officer. Mainardi succeeds Shumeet Banerji, who served as CEO for four years. Prior to being named CEO, Mainardi served as the firm's chief operating officer and managing director for North America. He built a 25-year career at Booz & Company, serving some of the firm's most prominent clients while also making significant contributions to the firm's intellectual capital. He co-authored the books, The Essential Advantage and Cut Costs Grow Stronger, published by Harvard Business Review Press, and has written several articles on business strategy published in Harvard Business Review and strategy+business.

NJBIZ Honors Booz & Company as one of the 2012 Best Places to Work in New Jersey

Booz & Company was named the 11th Best Place to Work in New Jersey out of 100 companies by NJBIZ, the state's business newspaper. This award program identifies, recognizes and honors the top places of employment in New Jersey that benefit the state's economy, its workforce and businesses.

March 2012

Leading Retail Strategist Thomas J. Blischok Joins Booz & Company

Booz & Company named Thomas J. Blischok as its Chief Retail Strategist. Bringing more than 30 years of experience in global retailing as a consultant and thought leader, Blischok will contribute deep market insight, technology expertise, industry guidance and retail thought leadership to the development of winning strategies for the firm's retail and consumer packaged goods clients.

February 2012

The Third Billion Campaign

Booz & Company became a supporter of the Third Billion Campaign, a movement to prepare and empower women with immense potential who lack resources to compete in the global economy.  By 2020, more than three billion people from emerging nations will join the global marketplace. China and India represent two billion participants, and the "third billion" - a term coined by Booz & Company partners DeAnne Aguirre and Karim Sabbagh from their groundbreaking analysis of this emerging population - is represented by the 1 billion women whose economic lives have been, until now, stunted, underleveraged or suppressed.

Inspired by the Booz & Company work, La Pietra Coalition decided to use the same title to launch the Third Billion Campaign which unites governments, NGOs, corporations, youth and others to provide these women with the necessary tools so they reach full economic potential.

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Strategy&, part of the PwC network (formerly Booz & Company) Asia


Suite 2511, One Corporate Avenue
222 Hu Bin Road
Shanghai 200021
Phone: +86-21-2327-9800
Fax: +86-21-2327-9833
www.booz.com

STATS


  • Employer Type: Private
  • CEO: Cesare R. Mainardi
  • Chairman: Joe Saddi
  • 2012 Employees: 3,300

  • Employment Contact

    www.booz.com/global/home/join_us


  • Major Departments & Practices

    Booz Digital

    Corporate Finance

    Digital Business & Technology

    Enterprise Strategy

    Marketing & Sales

    Mergers & Restructuring

    Operations

    Organization, Change & Leadership

    Product & Service Innovation

Major Office Locations

  • Shanghai, China (Regional HQ)
  • New York, NY (Global HQ)
  • 57 offices around the world

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