The 2010 Best Firms: 1. Bain & Company
Consulting Magazine 8/23/2010
Another year, another No. 1 ranking in our annual Best Firms to Work For survey for Bain & Company. For those still counting, that makes eight years in a row. It can be difficult to find the right adjectives to describe Bain and its employees, so here are a few examples from consultants that took the survey: "Dedicated, Brilliant, Interesting, Awesome, Amazing, Passionate, Curious, Diligent, Fun, Inspiring..." and the list seems to go on and on. Steve Ellis, worldwide managing director of Bain, might sum up Bain's unique culture in six words: "extraordinary people, applied passion, exceptional results." Ellis says Bain is made up of the best and brightest who truly care about one another, and says the firm routinely uses the phrase 'a Bainie never lets another Bainie fail.'
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Bank competition benefit questioned
Financial Times 8/22/2010
by Sharlene Goff
The UK government's drive to increase competition in the retail banking market is heading in the wrong direction, according to a study that suggests a highly fragmented industry could pose a greater risk to consumers. Matt Symonds, retail banking partner at Bain & Company, warned that an influx of entrants into the UK market could have the reverse effect of encouraging lenders to take more risk as they chase new business. "The long-term focus has to be stability over competition," said Mr Symonds. "The incremental benefits of increasing the number of players in the market falls off quite fast."
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Shoes, the musical: the shoe must go on
Telegraph 8/18/2010
by Naomi West
Two years ago the downturn seemed likely to nix our feverish desire to accumulate shoes, shoes and more shoes. But it turns out they are the one luxury purchase that is barely grazed by the recession. Tory Frame, the UK head of consumer products at the consulting firm Bain & Company, confirms this: 'In the past couple of years shoes have been the best-performing luxury category, overtaking bags.' In a worldwide study of the luxury market, the company noted that the market for shoes grew by two per cent in 2008 and contracted by half a percentage point in 2009.
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Attractive conditions prime market for more M&A activity
The Wall Street Journal 8/17/2010
Global merger-and-acquisition volume so far in August stands at $172.7 billion, the highest level since 1995. While part of the reason for the recent wave of deals could be just coincidence, the conditions for deal activity are ripe, in part because companies have high cash levels after hoarding during the economic downturn, said Tim van Biesen, a partner with Bain & Company and expert on M&A activity.
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Biosimilar development progresses, without FDA guidelines
Dow Jones Newswires 8/16/2010
by Thomas Gryta
Companies are eager to begin development on biosimilars, the closest thing to a generic for a biologic therapy, because they take longer to develop than traditional chemical-based generics and will likely be sold under a distinct brand, as they are in Europe. "This is going to be a marathon, not a sprint. It can take years to facilitate adoption of a [biosimilar] product," said Andy Pasternak, a consultant with Bain & Company with experience advising companies on biosimilar strategy.
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