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BearingPoint and PA Consulting take the lead in thought leadership
 
 The global thought
leadership ranking for
consulting firms, White
Space, has undergone a
dramatic reallocation of
the top positions during
the first quarter of
2007.
   On the basis of		 
  
   
 
 
 
 
 
 
 
 
 volume of material
produced over this
period, BearingPoint and
PA Consulting Group have
taken over the top two
slots from McKinsey and
Accenture, who have
slipped to 3rd and 11th
places respectively.		 
 Another surprising
development sees India's
Tata Consultancy
Services in fourth
place.
   The focus of thought
leadership material has
also changed
significantly during the		 
 first quarter with a
shift from strategy and
finance-related material
to operation issues such
as operational risk,
regulatory compliance,
technology, outsourcing
and innovation.
   		 
  
 
Diamond increases full-year profits
 
 Diamond Management &
Technology Consultants
has seen annual profit
rise sharply on the back
of an increased client
list and easing
restructuring costs. The
company reported results
for its fiscal year
2007, ended 31 March,
2007, saying net revenue
from continuing
operations was $168.7m,
up 16% compared to
$145.2m reported in the
prior year.
   Income from
continuing operations
rose to $7.2m, or $0.21
per diluted share,
compare to $2.0m, or
$0.06 per diluted share,
for the previous year,		 
 when restructuring costs
from the divestiture of
operations in Europe,
South America and the
Middle East dragged on
results.
   "We had a number of
significant
accomplishments in
fiscal year 2007,
including generating 16%
annual net revenue
growth; growing our
client base by 30%; and
delivering free cash
flow from continuing
operations of $21.6m. We
finished the year with a
strong balance sheet
reflecting $84.1m in
cash and no debt," said
Adam Gutstein, president
and CEO of Diamond. 		 
    Diamond served 65
clients during the
fourth quarter of fiscal
year 2007 and 105
clients in fiscal year
2007. This compares with
56 clients during the
fourth quarter of fiscal
year 2006 and 81 clients
in fiscal year 2006.
   The company added 19
new clients in the
fourth quarter of fiscal
year 2007 compared with
18 in the third quarter
and 16 in the year-ago
period. The top five
clients represented 37%
of revenue during the
fourth quarter of fiscal
year 2007 compared to
39% in both the third
quarter and the year-ago		 
 period.
   Diamond ended the
fourth quarter with 507
client-serving
professionals, compared
with 503 in the previous
quarter and 441 in the
year-ago period.
   During the year
Diamond repurchased 3.3
million shares at an
average price of $11.21
per share for a total of
$37.5m.
   "We are projecting
growth in our first
fiscal quarter compared
with the prior quarter
and expect to grow net
revenue 15% or more in
fiscal year 2008," said
Gutstein.
   In fiscal year 2008		 
 Diamond expects to grow
net revenue 15% or more
and generate full-year
pretax income margins of
at least 13%, growing
from approximately 12%
in the first quarter to
15% in the fourth
quarter of fiscal year
2008. The company
expects earnings per
diluted share to double
in fiscal year 2008 to
at least $0.42 and
full-year free cash flow
to be at least $22m.
  
  
   		 
 
Marsh & McLennan consolidates consulting units
 
 Marsh & McLennan
consulting units Mercer
Oliver Wyman, Mercer
Management Consulting
and Mercer Delta
Organizational
Consulting have joined
together under a single
brand: Oliver Wyman.
   The firm combines
deep industry knowledge
with specialised
expertise in strategy,
operations, risk
management,
organisational
transformation, and
leadership development.
Oliver Wyman's 2,500
professionals operate in
more than 40 cities
globally.
   "We have come
together as Oliver Wyman		 
 to build the world's
leading management
consulting firm," said
John P. Drzik, president
and CEO of the firm.
"Joining forces enables
us to address a broader
range of our clients'
needs, through an
enhanced set of
capabilities and an
expanded global
footprint."
   Drzik continued: "The
Oliver Wyman name has
long represented
excellence in strategy
and risk management
consulting to the
financial services
sector. Now that the
three firms are coming
together, the brand will
also encompass top-tier		 
 capabilities in
strategy, operations,
organisational
transformation, and
leadership development
across a broad range of
industries."
   The new Oliver Wyman,
which will aim to
compete in the "elite
management consulting
space", is the keystone
of the Oliver Wyman
Group, formerly named
Mercer Specialty
Consulting, a $1.3bn
business unit of Marsh &
McLennan Companies, Inc.
(MMC). The Oliver Wyman
Group also includes NERA
Economic Consulting and
design and brand
strategy consultancy
Lippincott (formerly		 
 Lippincott Mercer).
Drzik, formerly the
president of Mercer
Specialty Consulting,
will lead Oliver Wyman
Group.
   In addition to the
Oliver Wyman Group,
MMC's subsidiaries
include Marsh, Guy
Carpenter, Kroll and
Mercer Human Resource
Consulting. Mercer Human
Resource Consulting will
retain the Mercer name.
   Marsh & McLennan
formed Mercer Oliver
Wyman in 2003 following
the acquisition of
Oliver Wyman & Co.
   Mercer Management
conducts strategic
reviews for companies on
product development,		 
 competition and other
issues, while Mercer
Delta consults with
chief executives and
other senior business
executives on boardroom
issues and management
changes.
   Marsh & McLennan
recently sold its Putnam
unit for $3.9bn.
   During the first
three months of the
year, the group reported
income of $268m, down
36% from a year earlier.
Revenue in the latest
quarter was flat at
$1.1bn.
  
   		 
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