Oliver Wyman names Nick Studer as its new CEO
Nick Studer has been announced as the new leader of the Oliver Wyman Group. Studer takes the helm at the Marsh McLennan Companies subsidiary following a brief spell as head of its consulting wing.
Founded in 1984, Oliver Wyman is a US origin professional services firm. Five years later, the company agreed to be acquired by conglomerate Marsh McLennan Companies (MMC), and the firm has since grown to more than 60 offices in Europe, North America, the Middle East, and Asia-Pacific, employing over 5,000 professionals, and commands global annual revenues of more than $2 billion.
Since 2012, Oliver Wyman Group has been headed by Scott McDonald, but the 26 year company veteran has announced he will step down from the role having been as the new CEO of the British Council.
In his time at Oliver Wyman, McDonald led the unification of the firm and its transformation in 2018 with a new, comprehensive business strategy.
MMC CEO and President Dan Glaser said of McDonald, “His focus has always been on creating impact for our people, our clients, the communities in which we live and work, and the world at large. We thank him for his numerous contributions and wish him continued success.”
With his departure, MMC has announced a successor starting from July 1st. Stepping into the dual role of CEO and President of Oliver Wyman Group is Nick Studer, who will also become a Vice Chair of MMC. This will see him join the conglomerate’s executive committee.
Studer has been with Oliver Wyman for 23 years, being elected Partner in 2003, and has served on Oliver Wyman’s Executive Committee since 2012. Most recently, Studer made Managing Partner of the firm's management consulting business, having also led Oliver Wyman’s corporate and institutional banking and risk practices, and the financial services practice.
“In addition to his work with clients, he has been a leading voice for change and a major driver of our inclusion and diversity agenda,” said Glaser. “His understanding of how to make businesses and people thrive will be indispensable as we build our enterprise’s shared future.”
In his new role, Studer will report to Glaser. While continuing to serve as Managing Partner of Oliver Wyman’s management consulting business, he will now also lead Oliver Wyman's subsidiaries including NERA (economics consulting) and Lippincott (brand and creative services).
Earlier this year, Oliver Wyman was named one of the UK's top 25 strategy consulting firms.
