Bain & Company
Encyclopedia
Bain & Company is a global management consulting
firm headquartered in Boston, Massachusetts. Bain is considered one of the most prestigious consulting firms in the world, with 47 offices in 30 countries and over 5,500 professionals on staff globally. Bain currently ranks first on the Vault Consulting 50, and for nine consecutive years, has been named the Best Firm to Work For by Consulting Magazine.
from the Boston Consulting Group
headed by Bill Bain
. The company was headquartered in Lexington, MA on Militia Drive.
Under Bain’s direction, the firm implemented a number of unconventional practices in its early years. Notably, Bain & Co. would only work with one client per industry to avoid potential conflicts of interest. Partners did not carry business cards and clients were referred to by code names, further demonstrating its reputation for enforcing client confidentiality. The company preferred to win work by boardroom referrals rather than marketing itself, sometimes landing clients by offering several weeks of work at no cost until proving the results of its services. Bain consultants preferred to work on increasing a company’s market value rather than simply handing clients a list of recommendations. To win business, Bain demonstrated the increase in stock price of Bain's clients relative to the Dow Jones Industrial Average
.
The firm’s founding was followed by a period of growth in the late 1970s and early 1980s as the firm opened offices in London
, Munich
, San Francisco, and Tokyo
.
Another innovative consulting approach that Bain & Co. pioneered was aligning its incentives with its clients’ performance by occasionally accepting equity in lieu of fixed fees. An estimated 10% of Bain's revenue is derived from this equity participation or "success fees." This model has proved successful for both Bain and its clients. For example, the firm took an ownership stake in fruit processor Del Monte Foods
while working to revamp the company’s strategy. "Coming into a leveraged buyout
situation is never easy," says Del Monte CEO Richard Wolford. "Knowing Bain and their desire to deliver results, they probably would have provided ongoing support regardless. But the fact they own a stake doesn't hurt."
However daunting these external challenges, it was internal infighting among the senior partnership that threatened to tear the firm apart. In response, Bain & Co. was formally incorporated in 1985 and, over the course of two years, the Employee Stock Ownership Plan (ESOP) was established. Bain's senior partners began borrowing against their equity for cash, eventually leaving the firm with a heavy debt load.
As business slowed, this debt load began to squeeze the firm. Bain ultimately found itself in non-compliance with Bank of New England loan covenants. The resulting debt write-off at the Bank of New England eventually resulted in that bank's failure in 1991.
was asked to rejoin and lead Bain & Co. as interim CEO. Bringing along two lieutenants from Bain Capital
, Romney began a traveling campaign to rally employees at all Bain offices globally. Romney also negotiated a complex settlement between the Bain partnership and the firm's lenders.
The Boston Globe pointed out that:
“Over several weeks, Romney managed negotiations with the banks and among the partners... The moment came when negotiations produced a package in which Bill Bain and the founding partners would give up control of the firm, turning back $30 million they had taken from the ESOP and $100 million in notes they held against the firm.”
Romney’s plan involved "a complicated restructuring of the firm’s stock-ownership plan, real-estate holdings, bank loans, and money still owed to partners". To avoid the financial crisis that a buyout would have triggered, the group of founding partners agreed to return about $100M cash and forgive outstanding debt.
Although in the role for just one year before returning to Bain Capital, Romney’s work had three profound impacts on the firm. First, ownership was officially shifted from the owners to the firm’s 70 general partners
. Second, transparency in the firm’s finances increased dramatically (e.g. partners were able to know each other’s salaries). Third, Bill Bain relinquished ownership in the firm that carried his name.
Within a year, Bain bounced back to profitability without major partner defections, and the groundwork was laid for a period of steady growth.
In 1993, the head position was split into two roles – an executive head (Worldwide Managing Director) and a non-executive head (Chairman of the Board). Orit Gadiesh
, named Bain’s first Chairman in 1993, was fundamental in maintaining Bain’s culture. After spending two years in military intelligence
for the Israeli army
and earning a degree in psychology
from Hebrew University, Gadiesh enrolled in the Harvard Business School
and graduated as a Baker Scholar. As a junior partner during the turnaround, she had been instrumental in keeping senior partners from leaving the firm; as chairman, she became the first female to lead one of the major consulting firms. Gadiesh was known throughout the firm for her passionate leadership and "True North" philosophy, which the firm still embraces. For the past several years, she has landed among Forbes list of the 100 Most Powerful Women in Business and is on the board of several organizations, including the World Economic Forum.
Under Gadiesh and MD Tom Tierney, Bain simultaneously loosened its restrictions around the one-client-per-industry policy, by assuring clients that the firm's strict internal professional standards prohibited the circulation of client data internally, and expanded its presence worldwide throughout the 1990s. The firm grew by 25 percent per year, expanded its office count from 12 to 26, and increased partnership from about 70 to nearly 200.
." The economic slowdown following the dotcom boom was painful on all the major consulting players; however, Bain’s previous experiences with contraction left the firm zealous in avoiding layoffs. The firm weathered the economic downturn by investing in its leadership ranks with internal promotions and key external hires. Subsequently, the economic recovery has been followed by another period of sustained growth. In 2007, the firm expanded its global footprint to 37 offices, with office openings in Kiev
, Moscow
, Helsinki
, and Frankfurt
. The worldwide consulting headcount increased to approximately 2,700. Bain now has more offices in Europe than in any other region; the upshot of which being more revenue comes from its Continental operations than either the North American or Asian markets.
The new millennium also brought changes to Bain’s traditional generalist approach to solving client issues. Due to increasing specialization in the consulting industry, the firm developed niche "Practice Areas" in order to better serve the varying needs of its increasingly diverse multinational and local client base. Through targeted industry hires, Bain added industry experts to each of these "Practice Areas", significantly raising its profile in fields such as financial services, healthcare, information technology and media/entertainment.
is an infamous corporate takeover scandal of the 1980s. In April 1986, the British government launched an investigation into Guinness
' purchase of Distillers Company for equity valued at $3.8 billion. The government suspected that Guinness may have illegally inflated its stock price to sway Distillers' shareholders away from a competing offer from the Argyll Group, a Scottish food retailer.
Several executives were implicated in the investigation: the Guinness CEO Ernest Saunders, several top executives at Morgan Grenfell (Guinness's investment bank), and Guinness' director of financial strategy & development and then Bain VP Olivier Roux (who had temporarily been assigned to Guinness by Bain). Unfortunately, Roux was still on Bain's payroll at the time, prompting public criticism that Bain was guilty of a conflict of interest and leaving Bain vulnerable to lawsuits. Roux later resigned his posts at both Guinness and Bain.
Due to Roux's resignation and Lyon's swift termination, Bain & Co. was never accused of any wrongdoing in the Guinness affair.
Value Partners, which was established in 1993, had expanded its operations to five offices worldwide with 80 professionals. In 1994, Value Partners opened an office in São Paulo, Brazil. By 1997, Value Partners' Brazilian office was thriving and had grown to 25 professionals.
Value Partners claimed that Bain unlawfully caused members of Value Partners São Paulo office to enter into a conspiracy with Bain to take-over Value Partners' Brazilian office. Bain, which at the time had no business presence in Brazil, allegedly determined that it thereby could expand into the region, without incurring the associated start-up costs and risks of a new branch office.
According to the complaint, unbeknownst to fellow members of Value Partners at the time, the co-conspirators remained with Value Partners even after agreeing to join Bain, so as to secretly work from within Value Partners to better effectuate the wholesale misappropriation of Value Partners' São Paulo office.
Bain's post-trial motions were denied, and Bain appealed to the First Circuit U.S. Court of Appeals
. Value Partners filed a cross-appeal, contesting the District Court's denial of its companion claim for treble damages for unfair competition under Massachusetts law.
is a private investment firm specializing in private equity (PE), public equity, leveraged debt asset, venture capital, and absolute return investments. Bain Capital
does not provide management consulting services to its clients.
Bain Capital
was founded in 1984 by several former Bain & Co. partners that include Mitt Romney
(later to become the 70th Governor of Massachusetts
), T. Coleman Andrews III, and Eric Kriss
. On account of these shared roots, Bain & Co. still maintains a strong institutional relationship with Bain Capital. Many current Bain Capital
MD's and professional staffers began their business careers at Bain & Co.
, The Boston Consulting Group (BCG) (this trio commonly referred to as "MBB" by executive recruiters and industry insiders ), Booz & Co., A.T. Kearney, Monitor Group, Mercer, etc. This top tier of consulting firms recruits young professionals from the world's most elite undergraduate and business schools. Also increasingly, larger technology and implementation-focused firms such as Deloitte, Accenture, IBM, Ernst & Young, etc., have been building out strategy groups to try to steal some share from the pure strategy consultancies.
Although these three firms compete directly across all major sectors and geographies, each firm possesses its own unique profile that defines its sustainable competitive advantage in the marketplace. Having pioneered private equity (PE) consulting, Bain is the strongest player in the PE/LBO (Leveraged BuyOut) space, servicing most of the major private investment firms globally; Bain also displays competitive strength in the closely related mergers & acquisitions (M&A), organizational/turnaround and financial services consulting spaces. Geographically, Bain displays a strong market share in the Americas and Europe but is weak in Asia and other emerging markets.
McKinsey & Co., on account of its experience, deep board/C-level relationships and scale, is currently the strongest player in the MBB tier with particular strongholds in general strategy, financial services, operations and IT (through its BTO subsidiary). McKinsey holds the highest market share among the three firms globally with geographic strength across the Americas, Europe and Asia.
BCG displays competitive strength in general strategy and holds the second-highest market share globally after McKinsey.
interview, Bain partner Bill Neuenfeldt identified the desired qualities in potential hires as “intelligence, integrity, passion and the ambition to make a difference.”
In addition to these basic job requirements, an entry-level Associate Consultant (AC) is typically a graduate from an elite undergraduate institution with a demonstrable enthusiasm for problem-solving and a basic analytical skill-set. No specific major is required for the AC role, though an academic background related to data-based analysis (e.g., economics, business, sciences or engineering) can be a value-add on the job.
Those individuals that choose to join Bain after completing their MBA or other professional/graduate training enter in the Consultant role, where they are tasked with planning and managing the analytical process that produces key insights for Bain's clients. Increasing responsibility over planning and managing this analytical process in the Consultant role leads to a Case Team Leader (CTL) role. Most CTL's leave Bain to pursue junior management positions in industry or finance; some CTL's continue on to a Manager role at Bain. Managers are tasked with overseeing several inter-related analytical processes and are increasingly exposed to clients. Several years in the Manager role with demonstrated potential to build and manage client relationships may lead to a client-facing Principal role followed by election to Partner.
As Bain & Co. is an incorporated partnership, each Partner holds an equity stake in the firm and may rise to Director (a senior partnership role) or Managing Director (an executive head of a country or region) depending upon their professional strengths and capacity to build/maintain high-level relationships.
Management consulting
Management consulting indicates both the industry and practice of helping organizations improve their performance primarily through the analysis of existing organizational problems and development of plans for improvement....
firm headquartered in Boston, Massachusetts. Bain is considered one of the most prestigious consulting firms in the world, with 47 offices in 30 countries and over 5,500 professionals on staff globally. Bain currently ranks first on the Vault Consulting 50, and for nine consecutive years, has been named the Best Firm to Work For by Consulting Magazine.
1970s
Bain & Company was established in 1973 by a group of seven former partnersPartner (business rank)
A partner in a law firm, accounting firm, consulting firm, or financial firm is a highly ranked position. Originally, these businesses were set up as legal partnerships in which the partners were entitled to a share of the profits of the enterprise. The name has remained even though many of these...
from the Boston Consulting Group
Boston Consulting Group
The Boston Consulting Group is a global management consulting firm with offices in 42 countries. It is recognized as one of the most prestigious management consulting firms in the world. It is one of only three companies to appear in the top 15 of Fortunes "Best Companies to Work For" report for...
headed by Bill Bain
Bill Bain (consultant)
William Worthington "Bill" Bain, Jr. is a management consultant, known for his role as one of the founders of the management consultancy that bears his name, Bain & Company. Prior to founding Bain & Company, Bill Bain was a Vice-President at the Boston Consulting Group .- Biography :William Bain...
. The company was headquartered in Lexington, MA on Militia Drive.
Under Bain’s direction, the firm implemented a number of unconventional practices in its early years. Notably, Bain & Co. would only work with one client per industry to avoid potential conflicts of interest. Partners did not carry business cards and clients were referred to by code names, further demonstrating its reputation for enforcing client confidentiality. The company preferred to win work by boardroom referrals rather than marketing itself, sometimes landing clients by offering several weeks of work at no cost until proving the results of its services. Bain consultants preferred to work on increasing a company’s market value rather than simply handing clients a list of recommendations. To win business, Bain demonstrated the increase in stock price of Bain's clients relative to the Dow Jones Industrial Average
Dow Jones Industrial Average
The Dow Jones Industrial Average , also called the Industrial Average, the Dow Jones, the Dow 30, or simply the Dow, is a stock market index, and one of several indices created by Wall Street Journal editor and Dow Jones & Company co-founder Charles Dow...
.
The firm’s founding was followed by a period of growth in the late 1970s and early 1980s as the firm opened offices in London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
, Munich
Munich
Munich The city's motto is "" . Before 2006, it was "Weltstadt mit Herz" . Its native name, , is derived from the Old High German Munichen, meaning "by the monks' place". The city's name derives from the monks of the Benedictine order who founded the city; hence the monk depicted on the city's coat...
, San Francisco, and Tokyo
Tokyo
, ; officially , is one of the 47 prefectures of Japan. Tokyo is the capital of Japan, the center of the Greater Tokyo Area, and the largest metropolitan area of Japan. It is the seat of the Japanese government and the Imperial Palace, and the home of the Japanese Imperial Family...
.
Another innovative consulting approach that Bain & Co. pioneered was aligning its incentives with its clients’ performance by occasionally accepting equity in lieu of fixed fees. An estimated 10% of Bain's revenue is derived from this equity participation or "success fees." This model has proved successful for both Bain and its clients. For example, the firm took an ownership stake in fruit processor Del Monte Foods
Del Monte Foods
Del Monte Foods is an American food production and distribution company headquartered in San Francisco, California. Del Monte Foods is one of the country's largest producers, distributors and marketers of branded food and pet products for the U.S. retail market, generating approximately $3.6...
while working to revamp the company’s strategy. "Coming into a leveraged buyout
Leveraged buyout
A leveraged buyout occurs when an investor, typically financial sponsor, acquires a controlling interest in a company's equity and where a significant percentage of the purchase price is financed through leverage...
situation is never easy," says Del Monte CEO Richard Wolford. "Knowing Bain and their desire to deliver results, they probably would have provided ongoing support regardless. But the fact they own a stake doesn't hurt."
1980s
After a successful start, Bain & Co. found itself facing a growing list of challenges in the late 1980s. In the midst of sluggish business conditions and overstaffing, Bain also faced the dilemma of having to turn away business due to its one-client-per-industry restriction. Competition increased as other firms copied Bain’s implementation-focused strategy.However daunting these external challenges, it was internal infighting among the senior partnership that threatened to tear the firm apart. In response, Bain & Co. was formally incorporated in 1985 and, over the course of two years, the Employee Stock Ownership Plan (ESOP) was established. Bain's senior partners began borrowing against their equity for cash, eventually leaving the firm with a heavy debt load.
As business slowed, this debt load began to squeeze the firm. Bain ultimately found itself in non-compliance with Bank of New England loan covenants. The resulting debt write-off at the Bank of New England eventually resulted in that bank's failure in 1991.
1990s
Facing financial duress, Bain Capital partner Mitt RomneyMitt Romney
Willard Mitt Romney is an American businessman and politician. He was the 70th Governor of Massachusetts from 2003 to 2007 and is a candidate for the 2012 Republican Party presidential nomination.The son of George W...
was asked to rejoin and lead Bain & Co. as interim CEO. Bringing along two lieutenants from Bain Capital
Bain Capital
Bain Capital LLC is a Boston-based private equity firm founded in 1984 by partners from the consulting firm Bain & Company. Originally conceived as an early-stage, growth-oriented investment fund, Bain Capital today manages approximately $65 billion in assets, and its strategies include private...
, Romney began a traveling campaign to rally employees at all Bain offices globally. Romney also negotiated a complex settlement between the Bain partnership and the firm's lenders.
The Boston Globe pointed out that:
“Over several weeks, Romney managed negotiations with the banks and among the partners... The moment came when negotiations produced a package in which Bill Bain and the founding partners would give up control of the firm, turning back $30 million they had taken from the ESOP and $100 million in notes they held against the firm.”
Romney’s plan involved "a complicated restructuring of the firm’s stock-ownership plan, real-estate holdings, bank loans, and money still owed to partners". To avoid the financial crisis that a buyout would have triggered, the group of founding partners agreed to return about $100M cash and forgive outstanding debt.
Although in the role for just one year before returning to Bain Capital, Romney’s work had three profound impacts on the firm. First, ownership was officially shifted from the owners to the firm’s 70 general partners
Partner (business rank)
A partner in a law firm, accounting firm, consulting firm, or financial firm is a highly ranked position. Originally, these businesses were set up as legal partnerships in which the partners were entitled to a share of the profits of the enterprise. The name has remained even though many of these...
. Second, transparency in the firm’s finances increased dramatically (e.g. partners were able to know each other’s salaries). Third, Bill Bain relinquished ownership in the firm that carried his name.
Within a year, Bain bounced back to profitability without major partner defections, and the groundwork was laid for a period of steady growth.
In 1993, the head position was split into two roles – an executive head (Worldwide Managing Director) and a non-executive head (Chairman of the Board). Orit Gadiesh
Orit Gadiesh
Orit Gadiesh is an Israeli-American corporate strategist and chairwoman of Bain & Company, a leading global management consulting firm.-Biography:...
, named Bain’s first Chairman in 1993, was fundamental in maintaining Bain’s culture. After spending two years in military intelligence
Military intelligence
Military intelligence is a military discipline that exploits a number of information collection and analysis approaches to provide guidance and direction to commanders in support of their decisions....
for the Israeli army
Israel Defense Forces
The Israel Defense Forces , commonly known in Israel by the Hebrew acronym Tzahal , are the military forces of the State of Israel. They consist of the ground forces, air force and navy. It is the sole military wing of the Israeli security forces, and has no civilian jurisdiction within Israel...
and earning a degree in psychology
Psychology
Psychology is the study of the mind and behavior. Its immediate goal is to understand individuals and groups by both establishing general principles and researching specific cases. For many, the ultimate goal of psychology is to benefit society...
from Hebrew University, Gadiesh enrolled in the Harvard Business School
Harvard Business School
Harvard Business School is the graduate business school of Harvard University in Boston, Massachusetts, United States and is widely recognized as one of the top business schools in the world. The school offers the world's largest full-time MBA program, doctoral programs, and many executive...
and graduated as a Baker Scholar. As a junior partner during the turnaround, she had been instrumental in keeping senior partners from leaving the firm; as chairman, she became the first female to lead one of the major consulting firms. Gadiesh was known throughout the firm for her passionate leadership and "True North" philosophy, which the firm still embraces. For the past several years, she has landed among Forbes list of the 100 Most Powerful Women in Business and is on the board of several organizations, including the World Economic Forum.
Under Gadiesh and MD Tom Tierney, Bain simultaneously loosened its restrictions around the one-client-per-industry policy, by assuring clients that the firm's strict internal professional standards prohibited the circulation of client data internally, and expanded its presence worldwide throughout the 1990s. The firm grew by 25 percent per year, expanded its office count from 12 to 26, and increased partnership from about 70 to nearly 200.
2000s
The new millennium began with Bain & Co. guiding its clients through managing the changes involved in the "New EconomyNew Economy
The New Economy is a term to describe the result of the transition from a manufacturing-based economy to a service-based economy. This particular use of the term was popular during the Dot-com bubble of the late 1990s...
." The economic slowdown following the dotcom boom was painful on all the major consulting players; however, Bain’s previous experiences with contraction left the firm zealous in avoiding layoffs. The firm weathered the economic downturn by investing in its leadership ranks with internal promotions and key external hires. Subsequently, the economic recovery has been followed by another period of sustained growth. In 2007, the firm expanded its global footprint to 37 offices, with office openings in Kiev
Kiev
Kiev or Kyiv is the capital and the largest city of Ukraine, located in the north central part of the country on the Dnieper River. The population as of the 2001 census was 2,611,300. However, higher numbers have been cited in the press....
, Moscow
Moscow
Moscow is the capital, the most populous city, and the most populous federal subject of Russia. The city is a major political, economic, cultural, scientific, religious, financial, educational, and transportation centre of Russia and the continent...
, Helsinki
Helsinki
Helsinki is the capital and largest city in Finland. It is in the region of Uusimaa, located in southern Finland, on the shore of the Gulf of Finland, an arm of the Baltic Sea. The population of the city of Helsinki is , making it by far the most populous municipality in Finland. Helsinki is...
, and Frankfurt
Frankfurt
Frankfurt am Main , commonly known simply as Frankfurt, is the largest city in the German state of Hesse and the fifth-largest city in Germany, with a 2010 population of 688,249. The urban area had an estimated population of 2,300,000 in 2010...
. The worldwide consulting headcount increased to approximately 2,700. Bain now has more offices in Europe than in any other region; the upshot of which being more revenue comes from its Continental operations than either the North American or Asian markets.
The new millennium also brought changes to Bain’s traditional generalist approach to solving client issues. Due to increasing specialization in the consulting industry, the firm developed niche "Practice Areas" in order to better serve the varying needs of its increasingly diverse multinational and local client base. Through targeted industry hires, Bain added industry experts to each of these "Practice Areas", significantly raising its profile in fields such as financial services, healthcare, information technology and media/entertainment.
Background
The Guinness share-trading fraudGuinness share-trading fraud
The Guinness share-trading fraud was a famous British business scandal of the 1980s. It involved an attempt to manipulate the stock market on a massive scale to inflate the price of Guinness shares and thereby assist a £2.7 billion take-over bid for the Scottish drinks company Distillers...
is an infamous corporate takeover scandal of the 1980s. In April 1986, the British government launched an investigation into Guinness
Guinness
Guinness is a popular Irish dry stout that originated in the brewery of Arthur Guinness at St. James's Gate, Dublin. Guinness is directly descended from the porter style that originated in London in the early 18th century and is one of the most successful beer brands worldwide, brewed in almost...
' purchase of Distillers Company for equity valued at $3.8 billion. The government suspected that Guinness may have illegally inflated its stock price to sway Distillers' shareholders away from a competing offer from the Argyll Group, a Scottish food retailer.
Several executives were implicated in the investigation: the Guinness CEO Ernest Saunders, several top executives at Morgan Grenfell (Guinness's investment bank), and Guinness' director of financial strategy & development and then Bain VP Olivier Roux (who had temporarily been assigned to Guinness by Bain). Unfortunately, Roux was still on Bain's payroll at the time, prompting public criticism that Bain was guilty of a conflict of interest and leaving Bain vulnerable to lawsuits. Roux later resigned his posts at both Guinness and Bain.
Sir Jack Lyons & "the Guinness Four"
In addition to Roux's involvement, Sir Jack Lyons, whom Bain hired to help build its consulting practice in Britain, had admitted to receiving more than $3 million in fees from Guinness for "advisory services." His company, J. Lyons Chamberlayne, was also under investigation for accepting another $480,000 from Guinness linked to improper share buying. Bain fired Lyons in January 1987; he was later charged (along with Ernest Saunders, Gerald Ronson, and Anthony Parnes). The four men became known as "the Guinness Four." All men were convicted but Lyons was not imprisoned due to ill health. However, he lost his knighthood and was fined £3,000,000 plus £1,000,000 prosecution costs.Due to Roux's resignation and Lyon's swift termination, Bain & Co. was never accused of any wrongdoing in the Guinness affair.
Background
In 1998, Value Partners, a smaller management consulting firm based in Milan, filed a lawsuit in U.S. federal court against Bain & Co., alleging Bain's theft of Value Partners' office in São Paulo, Brazil, including its clients, employees, and confidential and proprietary information.Value Partners, which was established in 1993, had expanded its operations to five offices worldwide with 80 professionals. In 1994, Value Partners opened an office in São Paulo, Brazil. By 1997, Value Partners' Brazilian office was thriving and had grown to 25 professionals.
Value Partners claimed that Bain unlawfully caused members of Value Partners São Paulo office to enter into a conspiracy with Bain to take-over Value Partners' Brazilian office. Bain, which at the time had no business presence in Brazil, allegedly determined that it thereby could expand into the region, without incurring the associated start-up costs and risks of a new branch office.
According to the complaint, unbeknownst to fellow members of Value Partners at the time, the co-conspirators remained with Value Partners even after agreeing to join Bain, so as to secretly work from within Value Partners to better effectuate the wholesale misappropriation of Value Partners' São Paulo office.
Post-trial outcome
In 2002 following a four-week trial, the jury found Bain liable for unfair competition and tortious interference under Brazilian law and awarded Value Partners $10 million in compensatory damages (the full award requested by Value Partners at trial). Value Partners was also awarded approximately $2.5 million in prejudgment interest.Bain's post-trial motions were denied, and Bain appealed to the First Circuit U.S. Court of Appeals
United States Court of Appeals for the First Circuit
The United States Court of Appeals for the First Circuit is a federal court with appellate jurisdiction over the district courts in the following districts:* District of Maine* District of Massachusetts...
. Value Partners filed a cross-appeal, contesting the District Court's denial of its companion claim for treble damages for unfair competition under Massachusetts law.
North America
 Atlanta BostonBoston Boston is the capital of and largest city in Massachusetts, and is one of the oldest cities in the United States. The largest city in New England, Boston is regarded as the unofficial "Capital of New England" for its economic and cultural impact on the entire New England region. The city proper had... ChicagoChicago Chicago is the largest city in the US state of Illinois. With nearly 2.7 million residents, it is the most populous city in the Midwestern United States and the third most populous in the US, after New York City and Los Angeles... |
Dallas Houston Los Angeles Los Ángeles Los Ángeles is the capital of the province of Biobío, in the commune of the same name, in Region VIII , in the center-south of Chile. It is located between the Laja and Biobío rivers. The population is 123,445 inhabitants... |
 Mexico CityMexico City Mexico City is the Federal District , capital of Mexico and seat of the federal powers of the Mexican Union. It is a federal entity within Mexico which is not part of any one of the 31 Mexican states but belongs to the federation as a whole... New YorkNew York New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east... Palo Alto |
San Francisco TorontoToronto Toronto is the provincial capital of Ontario and the largest city in Canada. It is located in Southern Ontario on the northwestern shore of Lake Ontario. A relatively modern city, Toronto's history dates back to the late-18th century, when its land was first purchased by the British monarchy from... |
South America
 Buenos AiresBuenos Aires Buenos Aires is the capital and largest city of Argentina, and the second-largest metropolitan area in South America, after São Paulo. It is located on the western shore of the estuary of the Río de la Plata, on the southeastern coast of the South American continent... |
 Rio de JaneiroRio de Janeiro Rio de Janeiro , commonly referred to simply as Rio, is the capital city of the State of Rio de Janeiro, the second largest city of Brazil, and the third largest metropolitan area and agglomeration in South America, boasting approximately 6.3 million people within the city proper, making it the 6th... |
São Paulo São Paulo São Paulo is the largest city in Brazil, the largest city in the southern hemisphere and South America, and the world's seventh largest city by population. The metropolis is anchor to the São Paulo metropolitan area, ranked as the second-most populous metropolitan area in the Americas and among... |
Europe
 AmsterdamAmsterdam Amsterdam is the largest city and the capital of the Netherlands. The current position of Amsterdam as capital city of the Kingdom of the Netherlands is governed by the constitution of August 24, 1815 and its successors. Amsterdam has a population of 783,364 within city limits, an urban population...  BrusselsBrussels Brussels , officially the Brussels Region or Brussels-Capital Region , is the capital of Belgium and the de facto capital of the European Union...  CopenhagenCopenhagen Copenhagen is the capital and largest city of Denmark, with an urban population of 1,199,224 and a metropolitan population of 1,930,260 . With the completion of the transnational Øresund Bridge in 2000, Copenhagen has become the centre of the increasingly integrating Øresund Region...  DüsseldorfDüsseldorf Düsseldorf is the capital city of the German state of North Rhine-Westphalia and centre of the Rhine-Ruhr metropolitan region.Düsseldorf is an important international business and financial centre and renowned for its fashion and trade fairs. Located centrally within the European Megalopolis, the... Frankfurt am Main |
 HelsinkiHelsinki Helsinki is the capital and largest city in Finland. It is in the region of Uusimaa, located in southern Finland, on the shore of the Gulf of Finland, an arm of the Baltic Sea. The population of the city of Helsinki is , making it by far the most populous municipality in Finland. Helsinki is...  KievKiev Kiev or Kyiv is the capital and the largest city of Ukraine, located in the north central part of the country on the Dnieper River. The population as of the 2001 census was 2,611,300. However, higher numbers have been cited in the press.... London London London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...  MadridMadrid Madrid is the capital and largest city of Spain. The population of the city is roughly 3.3 million and the entire population of the Madrid metropolitan area is calculated to be 6.271 million. It is the third largest city in the European Union, after London and Berlin, and its metropolitan... |
 MilanMilan Milan is the second-largest city in Italy and the capital city of the region of Lombardy and of the province of Milan. The city proper has a population of about 1.3 million, while its urban area, roughly coinciding with its administrative province and the bordering Province of Monza and Brianza ,...  MoscowMoscow Moscow is the capital, the most populous city, and the most populous federal subject of Russia. The city is a major political, economic, cultural, scientific, religious, financial, educational, and transportation centre of Russia and the continent... MunichMunich Munich The city's motto is "" . Before 2006, it was "Weltstadt mit Herz" . Its native name, , is derived from the Old High German Munichen, meaning "by the monks' place". The city's name derives from the monks of the Benedictine order who founded the city; hence the monk depicted on the city's coat...  OsloOslo Oslo is a municipality, as well as the capital and most populous city in Norway. As a municipality , it was established on 1 January 1838. Founded around 1048 by King Harald III of Norway, the city was largely destroyed by fire in 1624. The city was moved under the reign of Denmark–Norway's King...  IstanbulIstanbul Istanbul , historically known as Byzantium and Constantinople , is the largest city of Turkey. Istanbul metropolitan province had 13.26 million people living in it as of December, 2010, which is 18% of Turkey's population and the 3rd largest metropolitan area in Europe after London and... |
 ParisParis Paris is the capital and largest city in France, situated on the river Seine, in northern France, at the heart of the Île-de-France region... RomeRome Rome is the capital of Italy and the country's largest and most populated city and comune, with over 2.7 million residents in . The city is located in the central-western portion of the Italian Peninsula, on the Tiber River within the Lazio region of Italy.Rome's history spans two and a half...  StockholmStockholm Stockholm is the capital and the largest city of Sweden and constitutes the most populated urban area in Scandinavia. Stockholm is the most populous city in Sweden, with a population of 851,155 in the municipality , 1.37 million in the urban area , and around 2.1 million in the metropolitan area...  WarsawWarsaw Warsaw is the capital and largest city of Poland. It is located on the Vistula River, roughly from the Baltic Sea and from the Carpathian Mountains. Its population in 2010 was estimated at 1,716,855 residents with a greater metropolitan area of 2,631,902 residents, making Warsaw the 10th most...  ZurichZürich Zurich is the largest city in Switzerland and the capital of the canton of Zurich. It is located in central Switzerland at the northwestern tip of Lake Zurich... |
Africa & Middle East
 DubaiDubai Dubai is a city and emirate in the United Arab Emirates . The emirate is located south of the Persian Gulf on the Arabian Peninsula and has the largest population with the second-largest land territory by area of all the emirates, after Abu Dhabi... |
 JohannesburgJohannesburg Johannesburg also known as Jozi, Jo'burg or Egoli, is the largest city in South Africa, by population. Johannesburg is the provincial capital of Gauteng, the wealthiest province in South Africa, having the largest economy of any metropolitan region in Sub-Saharan Africa... |
Asia & Oceania
 BangkokBangkok Bangkok is the capital and largest urban area city in Thailand. It is known in Thai as Krung Thep Maha Nakhon or simply Krung Thep , meaning "city of angels." The full name of Bangkok is Krung Thep Mahanakhon Amon Rattanakosin Mahintharayutthaya Mahadilok Phop Noppharat Ratchathani Burirom...  BeijingBeijing Beijing , also known as Peking , is the capital of the People's Republic of China and one of the most populous cities in the world, with a population of 19,612,368 as of 2010. The city is the country's political, cultural, and educational center, and home to the headquarters for most of China's...  GurgaonGurgaon Gurgaon is the second largest city in the Indian state of Haryana. Gurgaon is the industrial and financial center of Haryana. It is located 30 km south of national capital New Delhi, about 10 kilometers from Dwarka Sub City and 268 km south of Chandigarh, the state capital... (Bain Capability Center)  Hong KongHong Kong Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour... |
 Kuala LumpurKuala Lumpur Kuala Lumpur is the capital and the second largest city in Malaysia by population. The city proper, making up an area of , has a population of 1.4 million as of 2010. Greater Kuala Lumpur, also known as the Klang Valley, is an urban agglomeration of 7.2 million...  MelbourneMelbourne Melbourne is the capital and most populous city in the state of Victoria, and the second most populous city in Australia. The Melbourne City Centre is the hub of the greater metropolitan area and the Census statistical division—of which "Melbourne" is the common name. As of June 2009, the greater... MumbaiMumbai Mumbai , formerly known as Bombay in English, is the capital of the Indian state of Maharashtra. It is the most populous city in India, and the fourth most populous city in the world, with a total metropolitan area population of approximately 20.5 million... |
New Delhi New Delhi New Delhi is the capital city of India. It serves as the centre of the Government of India and the Government of the National Capital Territory of Delhi. New Delhi is situated within the metropolis of Delhi. It is one of the nine districts of Delhi Union Territory. The total area of the city is... PerthPerth, Western Australia Perth is the capital and largest city of the Australian state of Western Australia and the fourth most populous city in Australia. The Perth metropolitan area has an estimated population of almost 1,700,000.... ShanghaiShanghai Shanghai is the largest city by population in China and the largest city proper in the world. It is one of the four province-level municipalities in the People's Republic of China, with a total population of over 23 million as of 2010...  SingaporeSingapore Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the... |
 SeoulSeoul Seoul , officially the Seoul Special City, is the capital and largest metropolis of South Korea. A megacity with a population of over 10 million, it is the largest city proper in the OECD developed world... SydneySydney Sydney is the most populous city in Australia and the state capital of New South Wales. Sydney is located on Australia's south-east coast of the Tasman Sea. As of June 2010, the greater metropolitan area had an approximate population of 4.6 million people...  TokyoTokyo , ; officially , is one of the 47 prefectures of Japan. Tokyo is the capital of Japan, the center of the Greater Tokyo Area, and the largest metropolitan area of Japan. It is the seat of the Japanese government and the Imperial Palace, and the home of the Japanese Imperial Family... |
Relationship with Bain Capital
In spite of popular belief, Bain & Co. is an entirely separate entity from Bain Capital. Bain CapitalBain Capital
Bain Capital LLC is a Boston-based private equity firm founded in 1984 by partners from the consulting firm Bain & Company. Originally conceived as an early-stage, growth-oriented investment fund, Bain Capital today manages approximately $65 billion in assets, and its strategies include private...
is a private investment firm specializing in private equity (PE), public equity, leveraged debt asset, venture capital, and absolute return investments. Bain Capital
Bain Capital
Bain Capital LLC is a Boston-based private equity firm founded in 1984 by partners from the consulting firm Bain & Company. Originally conceived as an early-stage, growth-oriented investment fund, Bain Capital today manages approximately $65 billion in assets, and its strategies include private...
does not provide management consulting services to its clients.
Bain Capital
Bain Capital
Bain Capital LLC is a Boston-based private equity firm founded in 1984 by partners from the consulting firm Bain & Company. Originally conceived as an early-stage, growth-oriented investment fund, Bain Capital today manages approximately $65 billion in assets, and its strategies include private...
was founded in 1984 by several former Bain & Co. partners that include Mitt Romney
Mitt Romney
Willard Mitt Romney is an American businessman and politician. He was the 70th Governor of Massachusetts from 2003 to 2007 and is a candidate for the 2012 Republican Party presidential nomination.The son of George W...
(later to become the 70th Governor of Massachusetts
Governorship of Mitt Romney
Willard Mitt Romney was sworn in as the 70th Governor of Massachusetts on January 2, 2003, along with Lieutenant Governor Kerry Healey. His term ended on January 4, 2007...
), T. Coleman Andrews III, and Eric Kriss
Eric Kriss
Eric Arthur Kriss is a musician and business executive who served as Secretary of Administration and Finance in Massachusetts Governor Romney's cabinet , and as assistant A&F secretary under Governor William Weld...
. On account of these shared roots, Bain & Co. still maintains a strong institutional relationship with Bain Capital. Many current Bain Capital
Bain Capital
Bain Capital LLC is a Boston-based private equity firm founded in 1984 by partners from the consulting firm Bain & Company. Originally conceived as an early-stage, growth-oriented investment fund, Bain Capital today manages approximately $65 billion in assets, and its strategies include private...
MD's and professional staffers began their business careers at Bain & Co.
Competitors
Bain & Company is one of the market leaders in management consulting services to the Fortune 500 set, along with McKinsey & CompanyMcKinsey & Company
McKinsey & Company, Inc. is a global management consulting firm that focuses on solving issues of concern to senior management. McKinsey serves as an adviser to many businesses, governments, and institutions...
, The Boston Consulting Group (BCG) (this trio commonly referred to as "MBB" by executive recruiters and industry insiders ), Booz & Co., A.T. Kearney, Monitor Group, Mercer, etc. This top tier of consulting firms recruits young professionals from the world's most elite undergraduate and business schools. Also increasingly, larger technology and implementation-focused firms such as Deloitte, Accenture, IBM, Ernst & Young, etc., have been building out strategy groups to try to steal some share from the pure strategy consultancies.
Although these three firms compete directly across all major sectors and geographies, each firm possesses its own unique profile that defines its sustainable competitive advantage in the marketplace. Having pioneered private equity (PE) consulting, Bain is the strongest player in the PE/LBO (Leveraged BuyOut) space, servicing most of the major private investment firms globally; Bain also displays competitive strength in the closely related mergers & acquisitions (M&A), organizational/turnaround and financial services consulting spaces. Geographically, Bain displays a strong market share in the Americas and Europe but is weak in Asia and other emerging markets.
McKinsey & Co., on account of its experience, deep board/C-level relationships and scale, is currently the strongest player in the MBB tier with particular strongholds in general strategy, financial services, operations and IT (through its BTO subsidiary). McKinsey holds the highest market share among the three firms globally with geographic strength across the Americas, Europe and Asia.
BCG displays competitive strength in general strategy and holds the second-highest market share globally after McKinsey.
Recruitment
In a Financial TimesFinancial Times
The Financial Times is an international business newspaper. It is a morning daily newspaper published in London and printed in 24 cities around the world. Its primary rival is the Wall Street Journal, published in New York City....
interview, Bain partner Bill Neuenfeldt identified the desired qualities in potential hires as “intelligence, integrity, passion and the ambition to make a difference.”
In addition to these basic job requirements, an entry-level Associate Consultant (AC) is typically a graduate from an elite undergraduate institution with a demonstrable enthusiasm for problem-solving and a basic analytical skill-set. No specific major is required for the AC role, though an academic background related to data-based analysis (e.g., economics, business, sciences or engineering) can be a value-add on the job.
Professional advancement
The Associate Consultant (AC) role typically lasts for 24 months, after which most ACs are promoted to the Senior Associate Consultant (SAC) role. An SAC may have the opportunity to spend six months in a Bain office of his/her choice, leave Bain for six months to work for another company or non-profit organization, or take a two month sabbatical for purely personal pursuits. After 36 months at Bain, most SAC's either leave Bain to attend graduate school (top-performing SAC's may receive funding for graduate business studies) or join another company. Some SAC's choose to stay on for a fourth year; outstanding SAC's may be promoted directly to Consultant, the post-MBA position.Those individuals that choose to join Bain after completing their MBA or other professional/graduate training enter in the Consultant role, where they are tasked with planning and managing the analytical process that produces key insights for Bain's clients. Increasing responsibility over planning and managing this analytical process in the Consultant role leads to a Case Team Leader (CTL) role. Most CTL's leave Bain to pursue junior management positions in industry or finance; some CTL's continue on to a Manager role at Bain. Managers are tasked with overseeing several inter-related analytical processes and are increasingly exposed to clients. Several years in the Manager role with demonstrated potential to build and manage client relationships may lead to a client-facing Principal role followed by election to Partner.
As Bain & Co. is an incorporated partnership, each Partner holds an equity stake in the firm and may rise to Director (a senior partnership role) or Managing Director (an executive head of a country or region) depending upon their professional strengths and capacity to build/maintain high-level relationships.
Industry & finance
- Bill BainBill Bain (consultant)William Worthington "Bill" Bain, Jr. is a management consultant, known for his role as one of the founders of the management consultancy that bears his name, Bain & Company. Prior to founding Bain & Company, Bill Bain was a Vice-President at the Boston Consulting Group .- Biography :William Bain...
— Founder of Bain & Company - Eric KrissEric KrissEric Arthur Kriss is a musician and business executive who served as Secretary of Administration and Finance in Massachusetts Governor Romney's cabinet , and as assistant A&F secretary under Governor William Weld...
— Co-founder of Bain CapitalBain CapitalBain Capital LLC is a Boston-based private equity firm founded in 1984 by partners from the consulting firm Bain & Company. Originally conceived as an early-stage, growth-oriented investment fund, Bain Capital today manages approximately $65 billion in assets, and its strategies include private... - Stephen PagliucaStephen PagliucaStephen Pagliuca is a private equity investor, managing partner of Bain Capital, and co-owner of the Boston Celtics.In 2003, Pagliuca, along with Irving and Wyc Grousbeck, Robert Epstein, William P...
— MD of Bain CapitalBain CapitalBain Capital LLC is a Boston-based private equity firm founded in 1984 by partners from the consulting firm Bain & Company. Originally conceived as an early-stage, growth-oriented investment fund, Bain Capital today manages approximately $65 billion in assets, and its strategies include private...
; co-owner of the Boston CelticsBoston CelticsThe Boston Celtics are a National Basketball Association team based in Boston, Massachusetts. They play in the Atlantic Division of the Eastern Conference. Founded in 1946, the team is currently owned by Boston Basketball Partners LLC. The Celtics play their home games at the TD Garden, which... - Joshua BekensteinJoshua BekensteinJoshua Bekenstein is an American businessman and top executive at Bain Capital. He joined Bain Capital at its inception in 1984. He has been a Managing Director since 1986. Prior to joining Bain Capital, Bekenstein spent several years at Bain & Company where he was involved with companies in a...
— MD of Bain CapitalBain CapitalBain Capital LLC is a Boston-based private equity firm founded in 1984 by partners from the consulting firm Bain & Company. Originally conceived as an early-stage, growth-oriented investment fund, Bain Capital today manages approximately $65 billion in assets, and its strategies include private...
, Board member of the Yale School of ManagementYale School of ManagementThe Yale School of Management is the graduate business school of Yale University and is located on Hillhouse Avenue in New Haven, Connecticut, United States. The School offers Master of Business Administration and Ph.D. degree programs. As of January 2011, 454 students were enrolled in its MBA... - Kenneth ChenaultKenneth ChenaultKenneth Irvine Chenault is an American business executive. He has been the CEO and Chairman of American Express since 2001. He is the third African-American CEO of a Fortune 500 company.-Early life, education, and legal career:...
— CEO of American ExpressAmerican ExpressAmerican Express Company or AmEx, is an American multinational financial services corporation headquartered in Three World Financial Center, Manhattan, New York City, New York, United States. Founded in 1850, it is one of the 30 components of the Dow Jones Industrial Average. The company is best... - Gary CrittendenGary CrittendenGary L. Crittenden is an American financial manager formerly employed as the chairman of Citi Holdings, a unit of Citigroup, and serving on the boards of Staples Inc., Ryerson, Inc., TJX Companies, and Utah Capital Investment Corp...
— CFO of CitigroupCitigroupCitigroup Inc. or Citi is an American multinational financial services corporation headquartered in Manhattan, New York City, New York, United States. Citigroup was formed from one of the world's largest mergers in history by combining the banking giant Citicorp and financial conglomerate...
, MonsantoMonsantoThe Monsanto Company is a US-based multinational agricultural biotechnology corporation. It is the world's leading producer of the herbicide glyphosate, marketed in the "Roundup" brand of herbicides, and in other brands...
and Sears; Board member of Staples and TJX CompaniesTJX CompaniesThe TJX Companies, Incorporated , is the largest international apparel and home fashions off-price department store chain in the United States. Based in Framingham, Massachusetts, the company originally evolved from the Zayre discount department store chain, founded in 1956, which opened its first... - Pete DawkinsPete DawkinsPeter Miller Dawkins is a Heisman Trophy winner, Rhodes Scholar, U.S. Army Brigadier General, and Republican candidate for Senate. He is the former vice chairman of Citigroup Private Bank.-Early life, education and athletic career:...
— Former CEO of Primerica Financial ServicesPrimerica Financial ServicesPrimerica, Inc. is a referral marketer of financial products and services using a hybrid model of direct selling, franchising and distribution....
, U.S. Army Brigadier GeneralBrigadier general (United States)A brigadier general in the United States Army, Air Force, and Marine Corps, is a one-star general officer, with the pay grade of O-7. Brigadier general ranks above a colonel and below major general. Brigadier general is equivalent to the rank of rear admiral in the other uniformed...
and RepublicanRepublican Party (United States)The Republican Party is one of the two major contemporary political parties in the United States, along with the Democratic Party. Founded by anti-slavery expansion activists in 1854, it is often called the GOP . The party's platform generally reflects American conservatism in the U.S...
candidate for U.S. Senate - Kevin RollinsKevin RollinsKevin B. Rollins is an American businessman and philanthropist. The former President and CEO of Dell Computers, in 2006 Rollins was named by London's CBR as the 9th Most Influential person in the Enterprise IT sector....
— Former CEO of Dell Computer - Greg BrennemanGreg BrennemanGregory D. Brenneman is the Chairman of CCMP Capital, a private equity firm. Most recently, Brenneman had served as president and CEO of CCMP-owned Quiznos Sub, a fast-food sandwich chain. Brenneman also serves on the board of directors of The Home Depot, Inc...
— Former CEO of PWC ConsultingPricewaterhouseCoopersPricewaterhouseCoopers is a global professional services firm headquartered in London, United Kingdom. It is the world's largest professional services firm measured by revenues and one of the "Big Four" accountancy firms....
, Quiznos and Burger KingBurger KingBurger King, often abbreviated as BK, is a global chain of hamburger fast food restaurants headquartered in unincorporated Miami-Dade County, Florida, United States. The company began in 1953 as Insta-Burger King, a Jacksonville, Florida-based restaurant chain...
; Board member of The Home DepotThe Home DepotThe Home Depot is an American retailer of home improvement and construction products and services.The Home Depot operates 2,248 big-box format stores across the United States , Canada , Mexico and China, with a 12-store chain...
and Automatic Data ProcessingAutomatic Data ProcessingAutomatic Data Processing, Inc. Automatic Data Processing, Inc. with about $10 billion in revenues and approximately 545,000 clients, is a provider of business outsourcing solutions. ADP offers a range of human resource, payroll, tax and benefits administration solutions... - John DonahoeJohn DonahoeJohn Donahoe is an American businessman and the President and CEO of eBay Inc. since March 31, 2008, succeeding Meg Whitman, who stepped down from the role after 10 years, and who continues to serve on the company's Board of Directors....
— CEO of eBayEBayeBay Inc. is an American internet consumer-to-consumer corporation that manages eBay.com, an online auction and shopping website in which people and businesses buy and sell a broad variety of goods and services worldwide...
, Trustee of Dartmouth CollegeDartmouth CollegeDartmouth College is a private, Ivy League university in Hanover, New Hampshire, United States. The institution comprises a liberal arts college, Dartmouth Medical School, Thayer School of Engineering, and the Tuck School of Business, as well as 19 graduate programs in the arts and sciences... - Meg WhitmanMeg WhitmanMargaret Cushing "Meg" Whitman is an American business executive. She is the President and Chief Executive Officer of Hewlett-Packard. A native of Long Island, New York, she is a graduate of Princeton University and Harvard Business School...
— Former CEO of eBayEBayeBay Inc. is an American internet consumer-to-consumer corporation that manages eBay.com, an online auction and shopping website in which people and businesses buy and sell a broad variety of goods and services worldwide...
; 2010 candidate for California GovernorCalifornia gubernatorial election, 2010The 2010 California gubernatorial election was held November 2, 2010 to elect the Governor of California. The primary elections were held on June 8, 2010. Because constitutional office holders in California are prohibited from serving more than two terms in the same office since 1990, incumbent... - Vivek PaulVivek PaulVivek Paul is an Indian-born businessman and founder of Akansa Capital, an India-focused Private Equity Fund. He is also a Consulting Professor of Radiology at Stanford University. Mr. Paul founded , a cloud software company in the enterprise social media space...
— Partner at Texas Pacific GroupTexas Pacific GroupTPG Capital is one of the largest private equity investment firms globally, focused on leveraged buyout, growth capital and leveraged recapitalization investments in distressed companies and turnaround situations. TPG also manages investment funds specializing in growth capital, venture capital,...
, former CEO of WiproWiproWipro Limited formally Western India Products Limited is a global IT services and consulting company headquartered in Bangalore, India. As of 2011, Wipro is the second largest IT services company by turnover in India and employs more than 120,000 people worldwide as of March 2011... - Mark PincusMark PincusMark Jonathan Pincus is an Internet entrepreneur best known as the co-founder of Zynga, which makes online social games. Pincus also founded Freeloader, Inc., Tribe Networks, and SupportSoft. Pincus currently serves as CEO of Zynga, which had 232 million monthly active users as of July 1, 2011...
— Founder and CEO of ZyngaZyngaZynga is a social network game developer located in San Francisco, United States. The company develops browser-based games that work both stand-alone and as application widgets on social networking websites such as Facebook and MySpace.... - Anne GloverAnne GloverAnne Glover is CEO and co-founder of Amadeus Capital Partners, a venture capital firm that invests in European high-technology companies. Prior to founding Amadeus in 1997, she was with Apax Partners & Company Ventures, where she was a member of the investment team. She also has experience as a...
— Co-founder of Amadeus Capital Partners - Steve JurvetsonSteve JurvetsonSteven T. "Steve" Jurvetson is a Managing Director of Draper Fisher Jurvetson . He was a Venture Capitalist investor in Hotmail, Interwoven, and Kana...
— General Partner of Draper Fisher JurvetsonDraper Fisher JurvetsonDraper Fisher Jurvetson is a venture capital firm based in Menlo Park, California with affiliate offices in more than 30 cities around the world and over $7 billion in capital commitments.... - Jane MendilloJane MendilloJane Mendillo is the President and Chief Executive Officer of Harvard Management Company.Jane returned to Harvard Management Company as its president and chief executive officer on July 1, 2008 and is now responsible for directing Harvard's $35 billion endowment.Prior to rejoining Harvard, she was...
— President & CEO, Harvard Management CompanyHarvard Management CompanyHarvard Management Company or HMC is an American investment management corporation wholly owned subsidiary of Harvard University, charged with managing the university's endowment, pension assets, working capital, and non-cash gifts... - Jonathan KraftJonathan KraftJonathan A. Kraft is an American businessman, the president of the New England Patriots, owner/investor of the New England Revolution, and both president and chief operating officer of The Kraft Group...
— President of the New England PatriotsNew England PatriotsThe New England Patriots, commonly called the "Pats", are a professional football team based in the Greater Boston area, playing their home games in the town of Foxborough, Massachusetts at Gillette Stadium. The team is part of the East Division of the American Football Conference in the National... - Andy WasynczukAndy WasynczukAndrew Wasynczuk is a senior lecturer of business administration for Harvard Business School. He served as Chief Operating Officer and Senior Vice President for the New England Patriots of the National Football League, where he oversaw Foxboro Stadium and the building of its successor Gillette...
— Former COO & SVP of New England PatriotsNew England PatriotsThe New England Patriots, commonly called the "Pats", are a professional football team based in the Greater Boston area, playing their home games in the town of Foxborough, Massachusetts at Gillette Stadium. The team is part of the East Division of the American Football Conference in the National...
, Lecturer at the Harvard Business SchoolHarvard Business SchoolHarvard Business School is the graduate business school of Harvard University in Boston, Massachusetts, United States and is widely recognized as one of the top business schools in the world. The school offers the world's largest full-time MBA program, doctoral programs, and many executive...
Politics & public service
- Robin BuchananRobin BuchananRobin Buchanan is the former Dean and former President of London Business School. Under his leadership the School was, for the first time, ranked number one in the world for both its MBA and Executive MBA programmes. He is a director of the School's Corporate Governance Centre.Before joining...
— Former Dean & President of London Business SchoolLondon Business SchoolLondon Business School is an international business school and a constituent college of the federal University of London, located in central London, beside Regent's Park... - The Lord Feldman of ElstreeAndrew Feldman, Baron Feldman of ElstreeAndrew Simon Feldman, Baron Feldman of Elstree is a British Conservative politician and is currently Co-Chairman of the Conservative Party...
- Chairman of the British Conservative PartyConservative Party (UK)The Conservative Party, formally the Conservative and Unionist Party, is a centre-right political party in the United Kingdom that adheres to the philosophies of conservatism and British unionism. It is the largest political party in the UK, and is currently the largest single party in the House... - Mitt RomneyMitt RomneyWillard Mitt Romney is an American businessman and politician. He was the 70th Governor of Massachusetts from 2003 to 2007 and is a candidate for the 2012 Republican Party presidential nomination.The son of George W...
— Former Governor of Massachusetts, co-founder of Bain CapitalBain CapitalBain Capital LLC is a Boston-based private equity firm founded in 1984 by partners from the consulting firm Bain & Company. Originally conceived as an early-stage, growth-oriented investment fund, Bain Capital today manages approximately $65 billion in assets, and its strategies include private...
, 2008 & 2012 RepublicanRepublican Party (United States)The Republican Party is one of the two major contemporary political parties in the United States, along with the Democratic Party. Founded by anti-slavery expansion activists in 1854, it is often called the GOP . The party's platform generally reflects American conservatism in the U.S...
Presidential candidate - Jeffrey ZientsJeffrey ZientsJeffrey "Jeff" D. Zients is an American CEO, management consultant and entrepreneur. On July 30, 2010, he was named acting director of the Office of Management & Budget. President Obama appointed him to the new position of United States Chief Performance Officer...
- Chief Performance Officer of the United States (2009-), Former Acting Director of Office of Management and Budget (2010)
Other notable people
- Roger H. BrownRoger H. BrownRoger H. Brown is president of Berklee College of Music, cofounder of Bright Horizons Family Solutions, an international relief agency manager and a dedicated philanthropist.-Career:...
— President of the Berklee College of MusicBerklee College of MusicBerklee College of Music, located in Boston, Massachusetts, is the largest independent college of contemporary music in the world. Known primarily as a school for jazz, rock and popular music, it also offers college-level courses in a wide range of contemporary and historic styles, including hip... - Michael KolowichMichael KolowichMichael Edmund Kolowich is an entrepreneur, new media and internet content entrepreneur, and documentary filmmaker. He is founder and CEO of KnowledgeVision Systems Incorporated, is executive producer of DigiNovations, a multimedia production company which he founded in Concord, Massachusetts,...
— Founder of ZDNet and AT&TAT&TAT&T Inc. is an American multinational telecommunications corporation headquartered in Whitacre Tower, Dallas, Texas, United States. It is the largest provider of mobile telephony and fixed telephony in the United States, and is also a provider of broadband and subscription television services...
New Media; documentary filmmaker - Michael MurphyMichael Murphy (diver)Michael Andrew Murphy is a former Olympic diver for Australia. Murphy competed twice at the Olympic Games , placing 4th in the 3 metre springboard event at the 1992 Games in Barcelona....
— Former Olympic diver - Fred ReichheldFred ReichheldFrederick F. Reichheld is a United States business author and business strategist best known for his research and writing on the loyalty business model and Loyalty Marketing. His books include The Loyalty Effect , Loyalty Rules! , and The Ultimate Question: Driving Good Profits and True Growth...
— Business author - Suzy WelchSuzy WelchSuzy Welch , formerly Suzy Wetlaufer, is a best-selling author, television commentator and noted business journalist...
— Former Editor of the Harvard Business ReviewHarvard Business ReviewHarvard Business Review is a general management magazine published since 1922 by Harvard Business School Publishing, owned by the Harvard Business School. A monthly research-based magazine written for business practitioners, it claims a high ranking business readership among academics, executives,... - Pat ManningPatrick Manning (rower)Patrick Manning is an American rower.- References :* at sports-reference.com...
— Former Olympic rower