21 May 2008: Today the global commercial officers of Booz Allen Hamilton Inc. launched Booz & Company, a premier global management consulting firm for businesses, government ministries and other organisations. London-based Shumeet Banerji, formerly President of the firm’s global commercial business, has been elected Chief Executive Officer of Booz & Company, and Joe Saddi, based in the Middle East, will serve as Chairman of the new organisation’s 16 member Board of Directors.
Today’s launch follows the recent announcement of a strategic investment by The Carlyle Group to buy out the global commercial officers’ majority interest in Booz Allen’s U.S. government business. This will result in the legal separation of the U.S. government and the global commercial firms. Booz & Company is currently a subsidiary of Booz Allen Hamilton and will become a legally independent firm upon completion of the strategic realignment. The transaction is expected to close in mid-late 2008, subject to shareholder and regulatory approvals and other customary closing conditions.
Booz & Company starts with sustained double-digit growth, a superb client list and an enviable, debt free, balance sheet. It will be solely owned by its officers and will have more than 3,300 professionals in 57 offices around the world. The worldwide reach of its business is shown by its truly global management team and the fact that the majority of its 200 officers are based outside the US.
"The launch of Booz & Company is a significant milestone for our firm,” said Mr. Banerji, who has 15 years experience at the firm serving clients in both the private and public sectors. “Our purpose is to serve the senior agenda of the world’s leading institutions, public and private. We will be recognised for the relevance of our ideas, the practical impact of our contributions, the collaborative spirit of our people, and the intrinsically global nature of our firm. Our singular goal is to assist our clients in creating and delivering essential advantage around the globe.”
"This is an exciting time to be part of one of the leading management consulting firms in the world,” said Mr. Saddi, who has over 20 years of strategic consulting experience. “We have a clear ambition for the firm and are focused on delivering real impact for our clients.”
The launch of Booz & Company reinvigorates the firm’s strategic focus while drawing on its storied history of leadership and innovation in management consulting, that began in 1914 when its founder Edwin Booz started the management consulting profession. Since that time it has introduced some of the most significant and celebrated advances in business management including: the product life cycle model, supply chain management concept, organisational DNA and market driving capabilities. This leadership in ideas continues with Booz & Company’s signature research, such as its annual CEO Succession Study and annual Global Innovation 1000 study.
For further information, please contact:
+44 20 7393 3370/ +44 7900 163370
About Booz & Company
Booz & Company is a leading global management consulting firm, helping the world’s top businesses, government ministries, and organizations.
Our founder, Edwin Booz, defined the profession when he established the first management consulting firm in 1914.
Today, with more than 3,300 people in 57 offices around the world, we bring foresight and knowledge, deep functional expertise, and a practical approach to building capabilities and delivering real impact. We work closely with our clients to create and deliver essential advantage.
For our management magazine strategy+business visit www.strategy-business.com.
Visit www.strategyand.pwc.com to learn more about Booz & Company.
Shumeet Banerji is Chief Executive Officer of Booz & Company. Prior to that he was the Managing Director of its European business. Since joining the firm’s Chicago office in 1992, he has served clients in both the public and private sector from offices around the world, including the US, Asia and Europe. Most recently he has been focusing on helping government ministries and financial service institutions deal with the impact of changing demographics on their approach to long term savings and retirement provisions. Before joining the firm, he was a member of the faculty at the University of Chicago, Graduate School of Business. He received his Ph.D. from the Kellogg Graduate School of Management at Northwestern University.
Joe Saddi is the Chairman of Booz & Company. He is the Managing Director of the firm’s Middle East business. Since joining the firm in 1993, his projects have covered policy formulation, corporate and business strategies, organization and governance. He has participated in and led multi-functional assignments on numerous continents in the public and private sectors covering water, oil, gas, mining, steel, automotive, consumer goods, and petrochemicals. Joe holds an M.B.A from Cornell University, and a Bachelor of Business Administration from ESSEC in France.