Oliver Wyman, a global management consulting firm and a business of Marsh McLennan [NYSE: MMC], announced today that it has entered into an agreement to acquire Booz Allen Hamilton’s [NYSE: BAH] management consulting business serving the Middle East and North Africa (MENA) region.
The acquired entity will join Oliver Wyman’s India, Middle East and Africa (IMEA) practice, further bolstering Oliver Wyman’s capabilities in both the Middle East and globally, as part of Oliver Wyman’s commitment to delivering impact for clients and helping unlock greater value.
Booz Allen is a leading strategic advisory firm and one of the Middle East’s longest serving management consultancies, supporting clients across the private and public sector. With this acquisition, its MENA-based management consulting business will join Oliver Wyman’s more than 5,500 professionals worldwide fully focused on international management and strategy consulting, with dedicated investments in strategy, operations, risk management, and organizational transformation.
Oliver Wyman gains a management consulting practice fully dedicated to the MENA region, expanding the firm’s strategic capabilities and accelerating its growth position in the Middle East and beyond.
“With Oliver Wyman’s unwavering commitment to breakthrough impact, we’ve long admired Booz Allen Hamilton’s shared ethos of client excellence and deep sector expertise of the highest standards,” said Pedro Oliveira, Managing Partner of Oliver Wyman IMEA. “Indeed, Oliver Wyman and Booz Allen already share a long history, with two former Booz Allen Hamilton partners having founded Oliver Wyman, and we are deeply pleased this culture of entrepreneurship and DNA of deep-seated values endures some four decades later. We are confident this move to come together will offer exponential value to our clients, and we look forward to welcoming them to the Oliver Wyman team.”
Booz Allen’s MENA-based management consulting business has extensive experience in both the public and private sectors across Energy, Climate & Sustainability, Real Estate, Financial Services, and will enhance Oliver Wyman’s range of competences and advisory credentials in Environmental, Social and Governance (ESG), Climate & Sustainability, and more. Additionally, Booz Allen’s specialized Cybersecurity offering will boost Oliver Wyman’s rapidly growing Digital capabilities in the Middle East.
“The Middle East is one of the most aspirational, ambitious and exciting markets we support. To help service this trajectory, we are deeply pleased to be investing in and bringing aboard talent of this caliber that will enable us to have even greater impact and exceed client expectations,” said Nick Studer, President and CEO of Oliver Wyman. “Booz Allen’s experience and expertise will help propel both our firm’s strategic direction but most importantly the path of the clients we serve in this rapidly evolving and dynamic market.”
Booz Allen will continue to serve U.S. government clients requiring support within the MENA region, including in the Kingdom of Saudi Arabia and the United Arab Emirates. Booz Allen will continue to provide proprietary cyber, defense, and security solutions and related support to clients in the MENA region.
“This is a tremendous opportunity for our MENA-based management consulting business and talented workforce to grow in new ways,” said Karen Dahut, Booz Allen’s Global Defense Sector President. “Booz Allen has a proud, long-standing management consulting legacy in the MENA region and has become a true transformation leader. Oliver Wyman provides the management consulting focus, investment and culture that will allow our people and clients to thrive, while enabling Booz Allen to retain a core focus on serving U.S. government clients at the center of mission and technology.”
Booz Allen Executive Vice President and MENA Managing Director Souheil Moukaddem will join Oliver Wyman’s Management Leadership Council, led by Pedro Oliveira.
“Oliver Wyman is a global management consulting leader that will be a great home for our people, capabilities and clients. Bringing together our shared vision for the Middle East, cultures of entrepreneurship, inclusivity and diversity, and leading strategy consulting capabilities will deliver tremendous value as we enter a new era together,” said Moukaddem.
The transaction is expected to close in 2022 and is subject to customary closing conditions, including regulatory approvals. Terms of the transaction were not disclosed.