McKinsey promotes UK-based partner Tunde Olanrewaju to Europe leader
Strategy giant McKinsey & Company has appointed a new leader for its European wing. UK-based Tunde Olanrewaju steps into the role of the continent’s managing partner as the firm looks to shore up its regional operations, following a slowdown in revenue growth, and a number of reputational knocks.
Speaking on the news, Tunde Olanrewaju stated, “It is a privilege it is to be guiding our client service and leading our colleagues across Europe, working with clients and colleagues I deeply admire and who I have collaborated with for over 20 years across many of these geographies.”
Since arriving with the MBB strategy consultancy in 2002, at the tail end of the ‘dot com bubble’, Olanrewaju has since become a senior partner, and served as managing partner for the firm’s UK, Ireland and Israel offices. In the UK, Olanrewaju was one of the leaders who helped launch McKinsey Digital, the firm’s digital transformation arm that brings together design, software engineering, analytics, and technology to help clients leverage the power of technology.
His current responsibilities include co-leading the company’s European fintech practice, and working with a range of financial services, private equity, real estate, consumer facing and public sector institutions on strategy, digital transformation, analytics, and other projects.
Olanrewaju takes over the role from Massimo Giordano. The Italian McKinsey expert had headed up its European operations for the last two years – but is now said to be returning to “a more client-facing role as part of the firm’s leadership rotation model.” Olanrewaju thanked Giordano for “his outstanding impact” in the role, and providing “a solid foundation” which he intends to build on.
Giordano reciprocated, “I would like to congratulate Tunde on the appointment. He is a fantastic client leader with great energy and inspiration, and he will be a fantastic leader of this team into the future.”
A new Europe
Founded in 1926, McKinsey & Company has established a reputation as the go-to consultancy for governments and business leaders, when it comes to strategy, transformation and change. In Europe, this has seen the US-based firm establish offices in 23 countries. But the firm cannot afford to rest on its laurels, according to its new continental leader, as its clients now face an era of unprecedented change.
“It wouldn’t be an exaggeration to say I step into this role at a dynamic time for Europe and our clients,” Olanrewaju said, enigmatically. “Powerful forces are redefining industries and shifting the foundations of national competitiveness – from energy markets caught between decarbonisation demands and near-term price pressures, to geopolitics, tariffs and trade flows, and of course the transformative impact of technology, especially generative AI and agents.”
Nodding to “once in a lifetime” events which have characterised recent years, he added that the “unrelenting pressures” that these cause for the institutions McKinsey works with mean the firm must meet new challenges. Beyond “delivering on the fundamentals”, the company needs to help clients to embrace the future as “twin leadership challenges of complex times”.
Olanrewaju added, “There is an increasingly urgent need to boost productivity, strengthen Europe’s competitiveness, build new European champions, and ensure the region continues to lead on the global stage. At McKinsey, our aspiration is to help our clients not just navigate around these dynamic forces but also help them thrive through them by boldly building for the future.”
McKinsey’s clients are not the only one facing pressure across the continent, though. The European strategy entity also has a number of crises on its own doorstep – and like it’s American parent, that includes several reputational knocks. Since 2022, for example, it has been under investigation in France, for tax fraud allegations. France's financial prosecutor has also opened a probe into suspected favouritism and alleged illegal financing of President Emmanuel Macron's 2017 campaign, in connection with contracts with McKinsey.
Meanwhile, like many of the other largest firms in the consulting industry, McKinsey has faced slowing revenue growth. Reflecting this, the number of new partners in 2024 fell to 200 – from 250 in 2023, and more than 400 in 2021. In that same time, the number of McKinsey staff has risen from 30,000 to 45,000. In this context, the firm will need to find new ways to grow, while fighting reputational fires, under Olanrewaju’s new leadership.
