Oliver Wyman
From Wikipedia, the free encyclopedia
| Oliver Wyman | |
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| 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 | 2500 employees (Oliver Wyman) |
| Website | www.oliverwyman.com |
Oliver Wyman is a global strategy 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 2,500 professionals. It is part of the Oliver Wyman Group, which is a business unit of Marsh & McLennan.
Oliver Wyman has been described by The New York Times as "a leader in general business consulting", one of the business groups that provides Marsh & McLennan with an edge over other insurance brokers.[1]
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[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
- and 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.
[edit] Industries & Capabilities
Industries
- Automotive
- Aviation, Aerospace & Defense
- Communications, Media & Technology
- Energy
- Financial Services including 1) Corporate & Institutional Banking, 2) Insurance and 3) Retail & Business Banking
- Industrial Products & Services
- Health & Life Sciences
- Retail & Consumer Products
- Surface Transportation
Capabilities
- Business Transformation
- Delta Organization & Leadership including 1) Organization Design & Transformation, 2) Enterprise Leadership & Board Effectiveness, 3) Executive Learning Center
- Finance & Risk
- Marketing & Sales
- Operations & Technology
- Strategy
[edit] Oliver Wyman
The Financial Services unit of Oliver Wyman is one of the many industry specialties of Oliver Wyman which also includes: Automotive; Aviation, Aerospace & Defense; Communications, Media & Technology; Energy; Industrial Products & Services; Health & Life Sciences; Retail & Consumer Products; Surface Transportation.
Oliver Wyman also has many specialized capablilies including: Business Transformation; Organization & Design; Enterprise Leadership & Board Effectiveness; Finance & Risk; Marketing & Sales; Operations & Technology; and Strategy.
Oliver Wyman is part of Oliver Wyman Group which includes:
- NERA Economic Consulting (microeconomic consulting)
- Lippincott (brand, image and identity consulting)
[edit] Comparison to Competitors
The former Mercer Oliver Wyman was ranked as the 7th most prestigious consulting firm by Vault in both 2006 and 2007.[2] In addition, MOW was ranked 3rd in financial consulting and 2nd in compensation for the consulting industry in 2007 in Vault's rankings.[3] Consulting Magazine has ranked MOW one of the top 10 consulting firms to work for in 2005, 2006, and 2007.[4][5][6]
[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 Top 50 Most Prestigious Firms - 2006, Vault.com. Accessed October 21, [[2007].
- ^ Mercer Oliver Wyman profile, Vault.com. Accessed October 21, 2007.
- ^ The Best Firms to Work for 2007, Consulting Magazine. Accessed October 21, 2007.
- ^ The Best Firms to Work for 2006, Consulting Magazine. Accessed October 21, 2007.
- ^ The Best Firms to Work for 2005, Consulting Magazine. Accessed October 21, 2007.
