About Mitchell Madison Group LLC
The flexible consulting firm
Flexibility is the keyword for Mitchell Madison Group (MMG). Unlike any larger firms that offer upfront fee-for-service plans, MMG touts that its payment options cover the full range between 100 percent fee and 100 percent contingency. The firm tries to distinguish itself by linking fees to the results that its consultants deliver, not the analyses they perform. Although the firm will provide advice to almost any type of client, some of the industries it gives particular attention to are banking, capital markets, payment systems, insurance, manufacturing, telecommunications and resource extraction. MMG also offers expertise not only in strategy and cost optimization, but even in credit, market and operational risk, process reengineering, pricing optimization, capital efficiency, technology management, best practices benchmarking and sales and revenue growth. MMG offers its services on different locations through its offices situated in New York, Los Angeles, London, Zurich and Manila.
MMG specializes in assisting companies to attain significant profit increases within a year. The firm makes this possible by delivering new economics to its clientsâ€”in the form of income-generating transactions, reduction or discounting of prices, cost-cutting methods like outsourcing of services and adapting to structural market changes. Traditional services offered by the firm include defined profit margin improvement, restructuring and business strategy. Among the emerging service offerings include â€œgreenâ€ supply chain strategy, asset valuation, service contract renegotiations and reverse sourcing.
The firm traces its roots back to 1991, when a group of consultants from McKinsey was hired away by A.T. Kearney to form a strategy practice. The group was led by veteran consultant Tom Steiner. By 1994, the group had decided that A.T. Kearney was hampering its growth potential, and the management bought its freedom. The new firm took its name from the Mitchell Street bar where Steiner came up with the idea for independence, and Madison Avenue, home to the groupâ€™s original headquarters. In just five years, MMGâ€™s revenue showed marked growth. However, internal bickering among management led to the departure of five founding partners and directors and 10 percent of the staff was laid off. Finally, Internet marketing company USWeb/CKS acquired the company in 1999 and merged with Chicago consultancy Whittman Hart in 2000. The deal combined all three firms into the unwieldy marchFIRST consulting firm, which set out with the ambition to become top dog in the then-booming world of technology consulting. Unfortunately, by April 2001, marchFIRSTâ€™s stock price had free-fallen to 31 cents, and the firm filed for bankruptcy.
A new beginning
In 2003, CEO Rolf Thrane and other company founders bought the rights to the MMG name and began the new Mitchell Madison Group from a fresh perspective. The strategy of the revitalized firm focused on its belief in the continuing rapid growth of three basic economic forces: the reemergence of an integrated global capital market, the integration of more than three billion consumers and producers in a single generation, and the revolution in information logistics. Among the signals of resurgence was Thrane being named one of Consulting magazineâ€™s Top 25 Consultants for 2007. In his profile in the publication, Thrane defined the difference in MMGâ€™s approach to carrying out assignmentsâ€”something that he claims lies in its willingness to go beyond the diagnostic stage of traditional consulting models. â€œWe donâ€™t work that way,â€ he said, â€œWe do the diagnostic work, we present the options, we come up with the implementation plan and then we get very involved in the work where it hits the bottom line.â€
Success for all
MMG started providing consulting services to Fortune 500 and Mid-Cap clients in 2008. The firm continues to offer its expertise, in belief that its clientsâ€™ success is literally, its success. Through the years, MMG has performed splendidly in improving its clientsâ€™ track record. Among the strategies performed by the company that has contributed greatly to the success of its clients are: to reduce third-party contract negotiations for a world-leading semiconductor manufacturer and to review a clientâ€™s core competencies and product lines for a global IT systems manufacturer, among others.
17 State Street
New York, NY 10004
Phone: (646) 873-4100
Employer Type: Private
Managing Director: Hans Dau
2008 Employees (All Locations): 105