International technique and administration consulting agency Oliver Wyman has grown its world revenues by 9 % over the previous 12 months to $3.4 billion.
Along with Oliver Wyman, New York-headquartered Marsh McLennan is made up of insurance coverage broking and threat administration flag-ship Marsh, human capital consultancy Mercer, and reinsurance specialist Man Carpenter.
Collectively, their mixed revenues of $24.5 billion to the top of final 12 months represents an 8 % rise on the earlier interval, which in flip noticed 10 % progress on 2022 when the 150-year previous agency surpassed $20 billion for the primary time.
“Our fourth quarter outcomes capped a terrific 12 months for Marsh McLennan,” said president and CEO John Doyle. “We delivered on our strategic aims, generated wonderful monetary efficiency, and had the most important 12 months of acquisitions in our historical past. We’re nicely positioned for one more robust 12 months in 2025, reflecting our distinctive capabilities and the enduring worth we convey to purchasers.”
Supply: Consultanc.org evaluation, Marsh McLennan annual studies
Whereas the majority of Marsh McLennan’s revenues derive from threat & insurance coverage providers – at $15.4 billion final 12 months – the contribution of Oliver Wyman continues to develop. The consulting agency has added greater than $1 billion to its annual take from pre-pandemic ranges, leaping from $2.1 billion in 2019 to $3.4 billion over the previous 5 years, a interval most not too long ago marked by powerful market circumstances.
In an incomes convention name, Doyle famous that the agency was seeing demand choose up once more for Oliver Wyman’s providers, as evidenced by its nearly $1 billion fourth-quarter take, with chief monetary officer Mark McGivney including that the consultancy’s progress had occurred throughout all areas and segments, albeit with out offering a geographic breakdown of Oliver Wyman’s figures.
Normally, the USA and Europe stay the corporate’s powerhouse areas. China’s financial slowdown has seen world consultancy revenues sluggish within the Asia Pacific following sharp rises within the current previous, and whereas the sector in Australia is battling plenty of headwinds, Oliver Wyman has been a notable grower within the nation.
