Global consulting firm Bain & Company is going to open its first office in Washington D.C. this summer. Bain partner Phillip Kleweno will be appointed managing director of the office. In a press statement the strategy consulting firm confirmed that the fact that ex-Bain CEO Mitt Romney currently runs for President did not play a role in the decision to open the office in the political capital of the United States.
Entry in public sector
According to Tom Rodenhauser, vice president of consulting research firm Kennedy Information, the move by Bain is surprising. "Bain & Company is active in many industries, but it is best known for consumer products and financial services. Bain is only opening an office in Washington because it aims at doing projects in the public sector. Trying to gain ground in this sector would mean competing with Booz Allen Hamilton and the local office of McKinsey & Company. Bain is probably recognizing that doing high-profile government work is good for business these days". Kleweno expects that a few dozen employees will relocate to the city. In the long-run the ambition is to build an office of 100 consultants.
Bain partner Kleweno said the firm has been looking at the District for several years, well before Romney's 2008 presidential campaign. As its roster of clients in the area grew, the company figured it would be a good time to make a definitive move. "D.C. is a growing market with a vibrant business community, so we need to have an office here," he said.
Over Phillip Kleweno
Phillip Kleweno is an experienced Bainee. He began his career at the firm in 1985 and helped to establish the company's Los Angeles office 15 years ago. In 2001 he left the advisory firm for a C-suite position at Princess Cruises and following that he became CEO at Teleflora, a flower-delivery business. He rejoined Bain in 2008.
Over Mitt Romney
Republican presidential candidate Mitt Romney worked at the company for eight years, before founding spinoff private equity firm Bain Capital in 1985. When the consulting firm fell on hard times in the early 1990s, Romney returned as chief executive and revived the firm. All of the media attention surrounding Romney's time at Bain has put so much pressure on the consulting firm that it decided to publish answers to frequently asked questions about the relationship between the two firms.