Kearney (consulting firm)

  (Redirected from A. T. Kearney)

Kearney is an American management consulting firm founded in 1926 as a branch of McKinsey & Company.[1] The company became independent in 1939, and currently has offices in more than 40 countries worldwide.[2] Kearney has consistently earned top places among global management consulting firm rankings, such as Vault's Consulting 50[3] and Consulting magazine's "Best Firms to Work For."[4]

Kearney
TypeIncorporated
IndustryManagement consulting
Founded1926; 95 years ago (1926)
FounderAndrew Thomas Kearney
HeadquartersFranklin Center, Chicago, United States
Number of locations
60+ offices
Revenue
  • Increase $1.4 billion (2019)
Number of employees
3,500+ employees
Websitehttps://www.kearney.com/

In January 2020, the firm underwent a major rebranding and changed its name from A.T. Kearney to Kearney.[5]

Practice areasEdit

Kearney covers a wide range of industries and capabilities. Industry specialties include aerospace and defense, automotive, chemicals, communications media and technology, consumer products and retail, financial institutions, healthcare, metals and mining, oil and gas, private equity, public sector, transportation, and infrastructure and utilities.[6] Major service lines are in strategy, analytics, mergers and acquisitions, innovation, operations, technology strategy, organization and transformation, marketing and sales, procurement, and sustainability.[7]

HistoryEdit

The origins of the firm begin with Andrew Thomas Kearney, the first partner at McKinsey & Company. Kearney was hired in 1929 by James McKinsey.[8] Upon McKinsey's sudden death in 1937, the remaining partners disagreed on how to best run the firm and by 1939, they had split into three organizations: Scovell, Wellington & Company, the accounting practice run by Oliver Wellington; McKinsey, Kearney & Company, the Chicago consulting office run by Tom Kearney; and McKinsey & Company, run by Marvin Bower.[9] In 1947, Bower purchased the rights to the McKinsey name from Kearney, and Tom renamed the firm after himself, creating A.T. Kearney and Company.[10] In 1972, the name was shortened to A.T. Kearney.[11]

In 1995, A.T. Kearney was acquired by EDS for $569M. The purchase of a successful management consultancy by an information technology services group was unprecedented, but financially successful, with Kearney's revenue tripling in five years to reach an industry-leading $1.3B by 2000.[12] However, the firms experienced some culture clash: the Financial Times described A.T. Kearney's style as "individualistic" and "entrepreneurial", while EDS was "bureaucratic". These tensions peaked when Richard H. Brown became CEO in 1999, as he shed 13,000 jobs, reduced compensation, and consolidated back-office functions.[13]

It once again became an independent company in 2005.[14]

The firm opened its first international office in Düsseldorf, Germany in 1964. Its first office in Asia was opened in 1972, in Tokyo, Japan.[citation needed]

Kearney established the Global Business Policy Council in 1992. The Council conducts research and analysis, and organizes an annual CEO Retreat. Attendees reportedly include prominent academic, corporate, and government thought leaders. Membership is by invitation only, and current members may veto the invitation of competitors.[15] As of April 2016, Kearney operates 60 offices in 40 countries.[2] According to Glassdoor, it is the highest-paying company for employees in the United States as of April 2017.[16]

In 2019, Kearney acquired Cervello, a business analytics and data management consultancy. Cervello's solution focus areas include enterprise performance management, data management, business intelligence and CRM. At the time of the acquisition, Cervello had offices in Boston, Dallas, New York, London and Bengaluru.[17]

RecruitmentEdit

A 1999 survey ranked Kearney 6th out of 52 consulting firms in desirability. When the dot-com bubble burst in 2000, the firm laid off new hires and delayed start dates. CEO Fred Steingraber[18] characterized the move as "normal pruning", while student forums described it as a "bloodbath".[19]

In 2012, the career review site Glassdoor ranked Kearney as the 4th most difficult company to interview with.[20]

Awards and recognitionEdit

Kearney has consistently ranked among the top management consulting firms globally. The firm has been listed in Consulting magazine's "Best Firms to Work For" list seven times in eight years.[21] The firm is a perennial on the Vault Guide's ranking of the most prestigious firms to work for.[22] Working Mother magazine also ranks Kearney in its "Best Companies" list.[23]

In 2015, 2016, and 2017 Kearney was awarded the "Excellence in Social & Community Investment" award by Consulting magazine.[24] The same magazine has recognized Kearney partners for the past seven years as one of the top 25 consultants, globally.[25]

Besides achievements of professional excellence, Kearney has been recognized for its supportive and collegial culture, inclusive programs and networks, and diverse talent.[citation needed] Since 2015, the firm has been recognized as one of the "Best Places to Work for LGBT Equality" every year.[26] Working Mother Magazine has not only recognized Kearney as one of the "Top 100 Firms for Working Families and Women,"[27] but also awarded 5 of our many working mothers as "Working Mothers of the Year" since 2013.[28] In 2020, many of Kearney's diversity networks and consultants were ranked among the top networks and consultants for diversity and inclusion on the Guardian's Global Diversity List.

ReferencesEdit

  1. ^ "AT Kearney: The company". Top Contract Consultant.
  2. ^ a b "Kearney | Global Management Consulting Firm - Kearney". www.kearney.com. Retrieved 2020-01-10.
  3. ^ "Vault Consulting 50". Vault. Retrieved 11 June 2020.
  4. ^ Kornik, Joseph (September 14, 2015). "The 2015 Best Firms to Work For: A.T. Kearney". Consulting Magazine. Retrieved April 20, 2016.
  5. ^ Cameron, Nadia. "Why this professional services firm is using crowdsourcing and consumer marketing tactics". www.cmo.com.au.
  6. ^ "Industries". Kearney. Retrieved April 20, 2016.
  7. ^ "Services". Kearney. Retrieved April 20, 2016.
  8. ^ L. Urwick. "History of Consulting. Retrieved". The Elements of Administration. Archived from the original on April 30, 2012. Retrieved May 23, 2012.
  9. ^ Martin, Douglas (2003-01-24). "Marvin Bower, 99; Built McKinsey & Co". The New York Times. ISSN 0362-4331.
  10. ^ "A.T. Kearney en McKinsey vieren 50 jaar in Duitsland". Consultancy Netherlands (in Dutch). 2014-05-12.
  11. ^ "Kearney Case Interviews & Culture". Management Consulted. 2015-01-19.
  12. ^ Dobrzynski, Judith H. (May 31, 1995). "E.D.S. Resumes Purchase Talks With Kearney". The New York Times.
  13. ^ Velamuri, Vivek (2013-07-01). "EDS's merger with AT Kearney: A promising union that fell apart". Financial Times.
  14. ^ "The Kearney Story". Kearney. December 2014. Retrieved April 20, 2016.
  15. ^ Ruiz, Rebecca (May 5, 2008). "How CEOs Stay On Top Of Their Game". Forbes. Retrieved February 12, 2012.
  16. ^ Verhage, Julie (April 12, 2017). "These Are the Highest-Paying Companies in America". Bloomberg Business. Retrieved April 18, 2017.
  17. ^ "Read @ATKearney: A.T. Kearney Acquires Business Analytics Consultancy Cervello". www.atkearney.com. Retrieved 2019-01-28.
  18. ^ "Fred Steingraber, who headed A.T. Kearney, dies at 80". Crain's Chicago Business. 2019-07-15. Retrieved 2021-02-11.
  19. ^ Reingold, Jennifer (1999-05-09). "What's Dragging Down A.T. Kearney?". Bloomberg.
  20. ^ Giang, Vivian (July 27, 2012). "The 25 Hardest Companies For Job Interviews." Business Insider. Retrieved November 15, 2015.
  21. ^ Kornik, Joseph (September 14, 2015). "The 2015 Best Firms to Work For: A.T. Kearney". Consulting Magazine. Retrieved April 20, 2016.
  22. ^ Stott, Phil (August 20, 2013). "Vault's 2014 Consulting Rankings are Here!" Vault Blogs. Retrieved November 15, 2015.
  23. ^ "Best Companies: A.T. Kearney" (September 3, 2013). Working Mother. Retrieved November 15, 2015.
  24. ^ "The 2017 Social & Community Investment Awards". Consultingmag.com. Retrieved 2020-07-27.
  25. ^ "2019 Winners: Consulting Top 25 Consultants 2020". www.event.consultingmag.com. Retrieved 2020-07-27.
  26. ^ Campaign, Human Rights. "Best Places to Work 2020". Human Rights Campaign. Retrieved 2020-07-27.
  27. ^ "2019 Working Mother 100 Best Companies". Working Mother. Retrieved 2020-07-27.
  28. ^ "Working Mothers Of The Year". Working Mother. Retrieved 2020-07-27.

External linksEdit