Ukraine President Zelenskyy discusses reconstruction with Oliver Wyman boss
The CEO of Oliver Wyman has met with Ukraine’s President Volodymyr Zelenskyy. Nick Studer made time in his schedule to discuss how the firm can help Ukraine’s government navigate present issues amid the on-going war, and prepare for rebuilding in the future.
After the Russian military’s invasion of Ukraine commenced in early 2022, the World Bank predicted it could take at least $411 billion to rebuild Ukraine and its economy after the war. With the launch of a Ukrainian counter-offensive in late 2023, this sum is likely to increase further, as the conflict escalates again.
Over the two years of the war, professional services firms have consistently worked with Ukraine to help accommodate these huge costs – and plan to rebuild when the war ends. The Marsh McLennan family of businesses has consistently been one of the firms looking to help. Part of that group is strategy consultancy Oliver Wyman – which closed its offices in Russia following the onset of the war.
For some time, Oliver Wyman teams led by Crispin Ellison, alongside Marsh and Guy Carpenter teams led by Marcus Baker have assisted the Ukrainian government in seeking investment and preparing for reconstruction. This includes helping to build a war risk data platform to give transparency on war damage for investors and insurers; and creating the first public-private insurance scheme to cover grain exports along the Black Sea humanitarian corridor, which is already delivering grain outside the country.
Looking ahead, the teams are also discussing other aspects of reconstruction, as Ukraine prepares for a third year of prolonged difficulties. But as with any other client engagement with a consulting firm, there has to be a partner to check how delivery is going. In this case, no other choice would do – and the firm has sent its CEO to oversee things.
Speaking on LinkedIn, Oliver Wyman CEO Nick Studer announced, “I meet frequently with senior clients or prospective clients, and each time I do I reflect on the great privilege it is to represent my Marsh McLennan and Oliver Wyman colleagues, and benefit from the fantastic work that they do. It was therefore a great pleasure this week to accompany the US President’s Special Representative Secretary Penny Pritzker, Juan Luciano of ADM and Bernie Mensah of Bank of America to Kyiv for meetings with government and parliamentary figures to accelerate business investment for Ukraine’s recovery.”
Important guests
According to Studer, the delegation “met with President Zelenskyy accompanied by members of his cabinet”, which also included Prime Minister Shmyhal and First Deputy Prime Minister Svyrydenko; Speaker of the Verkhovna Rada Ruslan Stefanchuk and political faction leaders; Deputy Prime Minister Kubrakov together with representatives from agriculture, metals, mining and logistics companies. They then visited the Kyiv School of Economics.
Studer continued, “We all discussed ways to increase exports from Ukraine’s Black Sea ports — critical to supporting farmers and jobs, increasing tax revenues, and exporting grain and other goods to the world. I focused on the work we have done, the potential for insurance to contribute to export shipping and aviation, and the reforms needed for recovery. My colleagues discussed agriculture and finance.”
Reflecting on the trip, Studer thanked the organising group, and “especially… Ambassador Bridget Brink and her team, who looked after us incredibly well”. He added that he is “deeply proud” of Oliver Wyman’s impact in supporting the Ukrainian people, concluding that “this work, and this experience, is one of the highlights of my career”.
