Get sweaty. That’s what some Marathon Consulting employees will do Monday to celebrate the company’s recent move to Town Center in Virginia Beach.
“We decided it would be good if we could play off the name Marathon; it’s got a lot of good connotations to it,” said Harris Pezzella, president of the information technology consulting and digital marketing firm. So starting at 5 p.m. Monday, 13 employees will run a collective marathon.
Don’t worry. They won’t get too sweaty. None of them will do the standard 26.2-mile distance. Together, they will run a 2-mile route to and from the office. The event also will raise more than $1,000 for The King’s Daughters, Pezzella said.
Last month, Marathon left its longtime home on South Independence Boulevard, near Mount Trashmore. It occupies 9,000 square feet at Town Center, double the space it had.
“Great location, terrific office, room for expansion – it was really everything we were looking for,” Pezzella said.
The room for growth is key. Marathon, which started 9½ years ago, announced over the summer that it will add 34 full-timers to its staff of 59. The workforce is up to 70, Pezzella said, and should reach the target of 93 by 2018.
Mayor Will Sessoms is expected to greet runners at the finish line. Afterward, Marathon will hold a reception and open house for employees, clients and dignitaries. No exercise required there.
source: http://hamptonroads.com/2015/10/virginia-beach-consulting-firm-marathon-backing-its-name-running
Monday, October 26, 2015
Tuesday, October 20, 2015
Women Leaders in Management Consulting 2015
Consulting Magazine has revealed its 2015 list of the 12 most influential women in management consulting. The female leaders work at twelve different firms across the industry, ranging from the strategy consultancies to the Big Four and boutiques.
Every year Consulting Magazine, a US-based magazine for the consulting profession, conducts research into the role and accomplishments of women in the industry. Over the years consulting firms have taken great strides in improving diversity and introducing women-friendly policies, all in all leading to a growing role of women in the profession. As it stand women make up about a quarter of the consulting profession, yet percentages differ across segments and firms. At KPMG for instance women make up 46% of the total workforce, while at rival PwC half of the graduates recruited globally in the past 12 months were women. In the more male-dominated domains such as strategy consulting, or IT / technology, the ratio of men to women is however significantly higher, both in terms of current shares as well as in terms of new entrants.
To shine a spotlight on women in the consulting industry that have realised major accomplishments for their clients and their firms, Consulting Magazine nine years ago launched the annual ‘Women Leaders in Consulting’ competition. This year the cases of dozens of female leaders were reviewed, with the jury highlighting that the quality of the nominations was higher than ever. Following a detailed evaluation process, the jury yesterday unveiled the twelve winners across the four categories.
Future Leader Award:
- Theresa (Kain) Merlino, McGladrey
- Leslie Parker, A.T. Kearney
- Lauren Stark, Slalom Consulting
- Maria Whitman, ZS Associates
The coming year the twelve female leaders will serve as true role models within their firm and the industry*, helping to further advance the case for more women in consulting – not just an ambition based on morality or ethics, but one that can build on solid financials. In a survey held among clients of management consultancies, nine out of ten clients said they would prefer to see more women in traditionally male dominated teams. And two thirds said that, if they had to choose between two consulting teams and all other factors were equal, they’d often or always hire the team that had more women.
Lifetime Achievement Award
In addition to the twelve awards, the jury also distributed a Lifetime Achievement Award, which went to Deloitte’s Diane Davies, who passed away in March 2015. Davies was recognised for her nearly three decades at Deloitte, serving as a strategy and operations consultant, as well as a mentor and role model to all of her colleagues, but particularly women at Deloitte. She also served as Deloitte Consulting’s Chief Talent Officer and on the Deloitte US and Global Board of Directors.
The ‘Women Leaders in Consulting’ will be recognised on November 12 at the St. Regis Hotel, New York.
source: http://www.consultancy.uk/news/2794/women-leaders-in-management-consulting-2015
Every year Consulting Magazine, a US-based magazine for the consulting profession, conducts research into the role and accomplishments of women in the industry. Over the years consulting firms have taken great strides in improving diversity and introducing women-friendly policies, all in all leading to a growing role of women in the profession. As it stand women make up about a quarter of the consulting profession, yet percentages differ across segments and firms. At KPMG for instance women make up 46% of the total workforce, while at rival PwC half of the graduates recruited globally in the past 12 months were women. In the more male-dominated domains such as strategy consulting, or IT / technology, the ratio of men to women is however significantly higher, both in terms of current shares as well as in terms of new entrants.
To shine a spotlight on women in the consulting industry that have realised major accomplishments for their clients and their firms, Consulting Magazine nine years ago launched the annual ‘Women Leaders in Consulting’ competition. This year the cases of dozens of female leaders were reviewed, with the jury highlighting that the quality of the nominations was higher than ever. Following a detailed evaluation process, the jury yesterday unveiled the twelve winners across the four categories.
Future Leader Award:
- Theresa (Kain) Merlino, McGladrey
- Leslie Parker, A.T. Kearney
- Lauren Stark, Slalom Consulting
- Maria Whitman, ZS Associates
The coming year the twelve female leaders will serve as true role models within their firm and the industry*, helping to further advance the case for more women in consulting – not just an ambition based on morality or ethics, but one that can build on solid financials. In a survey held among clients of management consultancies, nine out of ten clients said they would prefer to see more women in traditionally male dominated teams. And two thirds said that, if they had to choose between two consulting teams and all other factors were equal, they’d often or always hire the team that had more women.
Lifetime Achievement Award
In addition to the twelve awards, the jury also distributed a Lifetime Achievement Award, which went to Deloitte’s Diane Davies, who passed away in March 2015. Davies was recognised for her nearly three decades at Deloitte, serving as a strategy and operations consultant, as well as a mentor and role model to all of her colleagues, but particularly women at Deloitte. She also served as Deloitte Consulting’s Chief Talent Officer and on the Deloitte US and Global Board of Directors.
The ‘Women Leaders in Consulting’ will be recognised on November 12 at the St. Regis Hotel, New York.
source: http://www.consultancy.uk/news/2794/women-leaders-in-management-consulting-2015
Thursday, October 15, 2015
Polaris Consulting all set to be acquired by Virtusa Corp for Rs 2,310 cr
Polaris Consulting & Services, a provider of financial technology products, is in the final stages of being acquired by US-based Virtusa Corporation for Rs 2,310 crore, according to a media report, with a formal announcement expected to come by the month-end.
The founder of Polaris Arun Jain, who established the company two-decades back in 1993, will be exiting the company as Virtusa looks to buy a controlling stake in the Indian IT firm, a report in The Economic Times said. Virtusa, a global information technology services company with headquarters in Massachusetts, USA, was founded after Polaris in the year 1996 by Sri Lankan entrepreneurs Kris and Tushara Canekeratne.
Polaris is said to be in the final stages of the deal with Virtusa's founders valuing it close to $350 million (Rs 2,310 crore), at 18 per cent more than its current market valuation of $295 million (Rs 1,904 crore).
The sale process of Polaris Consulting is believed to have started six months back by Zurich-based global bank Credit Suisse, according to the report, following which the shares of the firm have risen as much as 30 per cent on the Bombay Stock Exchange over the period. Tech Mahindra, HCL Tech and Genpact are said to have been in the race too for the acquisition but Virtusa appeared as the frontrunner offering almost 20 per cent more than its current valuation, the report said.
Jain is likely to sell his 28.9 per cent stake in the company with existing PE investor The Rohatyn Group controlling about 19 per cent stake in the company. Investor Rakesh Jhunjhunwala holds 5 per cent stake in the company.
Emails sent to Polaris and The Rohatyn Group remained unanswered while going to press, the ET report says. Polaris' spokesperson could not be reached on his mobile. A Virtusa spokesperson was quoted as saying the firm does not comment on market rumours and makes announcement using appropriate channels.
What the deal means for Virtusa?
The US-based company currently has little access to the Indian market. The deal with give it a wider access in the fast emerging market of India, especially in the banking and financial services space in which Polaris has a stronghold. Virtusa post the acquisition will compete with the Indian offshore software companies.
The link between Virtusa and Polaris
Financial services conglomerate Citigroup brings in over 30 per cent of the revenues to Polaris Consulting being its single largest client. Interestingly, it also happens to be one of the main clients for Virtusa and is said to have played a key role in finalizing the deal, the report said.
see more at: http://www.businesstoday.in/current/deals/polaris-consulting-all-set-to-be-acquired-by-virtusa-corp-for-rs-2310-crore/story/224854.html
The founder of Polaris Arun Jain, who established the company two-decades back in 1993, will be exiting the company as Virtusa looks to buy a controlling stake in the Indian IT firm, a report in The Economic Times said. Virtusa, a global information technology services company with headquarters in Massachusetts, USA, was founded after Polaris in the year 1996 by Sri Lankan entrepreneurs Kris and Tushara Canekeratne.
Polaris is said to be in the final stages of the deal with Virtusa's founders valuing it close to $350 million (Rs 2,310 crore), at 18 per cent more than its current market valuation of $295 million (Rs 1,904 crore).
The sale process of Polaris Consulting is believed to have started six months back by Zurich-based global bank Credit Suisse, according to the report, following which the shares of the firm have risen as much as 30 per cent on the Bombay Stock Exchange over the period. Tech Mahindra, HCL Tech and Genpact are said to have been in the race too for the acquisition but Virtusa appeared as the frontrunner offering almost 20 per cent more than its current valuation, the report said.
Jain is likely to sell his 28.9 per cent stake in the company with existing PE investor The Rohatyn Group controlling about 19 per cent stake in the company. Investor Rakesh Jhunjhunwala holds 5 per cent stake in the company.
Emails sent to Polaris and The Rohatyn Group remained unanswered while going to press, the ET report says. Polaris' spokesperson could not be reached on his mobile. A Virtusa spokesperson was quoted as saying the firm does not comment on market rumours and makes announcement using appropriate channels.
What the deal means for Virtusa?
The US-based company currently has little access to the Indian market. The deal with give it a wider access in the fast emerging market of India, especially in the banking and financial services space in which Polaris has a stronghold. Virtusa post the acquisition will compete with the Indian offshore software companies.
The link between Virtusa and Polaris
Financial services conglomerate Citigroup brings in over 30 per cent of the revenues to Polaris Consulting being its single largest client. Interestingly, it also happens to be one of the main clients for Virtusa and is said to have played a key role in finalizing the deal, the report said.
see more at: http://www.businesstoday.in/current/deals/polaris-consulting-all-set-to-be-acquired-by-virtusa-corp-for-rs-2310-crore/story/224854.html
Wednesday, October 7, 2015
Better Investment Consulting Is Long Overdue
Every year numerous studies by S&P, Vanguard, Morningstar, and others report that the vast majority of active managers fail to outperform their passive counterparts. What explains active investing’s underperformance vs. passive investing over the last several years? And why do investors continue to hire active managers?
In his popular book What Investors Really Want, Meir Statman explains that investors want to play the investment game and they want to win. They believe their investment advisers can identify skillful active managers. Yet, unfortunately, history does repeat itself: Active managers consistently fail to earn their fees year after year.
What can change this pattern of repeated failure? Investors need to demand better due diligence to separate out the losers. Intermediaries must improve their manager research. The search for skill continues to be conducted with the same lazy tools that have never worked in the past and never will in the future. It’s like the allegory of the drunk and the streetlamp: The drunk loses his keys at night in a park across the street, but he looks for them under a nearby streetlamp because it’s easier to see.
Antiquated Evaluation Tools
The old performance evaluation tools are indexes and peer groups. These are awful barometers of success or failure. Indexes don’t work because many skillful managers don’t live in style boxes, nor do they hug indexes. Peer groups don’t work because they are loaded with biases and are comprised of losers since most fail to outperform their benchmarks. Beating the losers does not make a winner. Peer groups of hedge funds are exceptionally silly because hedge funds are unique, so by definition they can’t be grouped together: “Unique” means without peer. Hedge fund peer groups epitomize classification bias because the members don’t belong together. (For further details, see “The Compelling Case for Changing Hedge Fund Due Diligence.”)
Investment management consulting is a fungible credence good: a service that is difficult if not impossible to properly assess before or even after consumption. Credence good markets emerge when sellers are much more knowledgeable than buyers. This fact has propelled so-called “robo-advisers” into the limelight, because if you can’t tell the difference, you might as well buy the cheapest.
Clients (buyers) need to wise up. There’s a good reason why active managers selected by consultants fail to deliver value add: Consultants aren’t trying hard enough because they don’t have to. This laxity applies to advice-only consultants as well as outsourced chief investment officers (OCIOs). It would be better to not pretend at all. That’s why intellectually honest robo-advisers have given up on the search for skillful active investment managers.
see more at: https://blogs.cfainstitute.org/investor/2015/10/07/better-investment-consulting-is-long-overdue/
In his popular book What Investors Really Want, Meir Statman explains that investors want to play the investment game and they want to win. They believe their investment advisers can identify skillful active managers. Yet, unfortunately, history does repeat itself: Active managers consistently fail to earn their fees year after year.
What can change this pattern of repeated failure? Investors need to demand better due diligence to separate out the losers. Intermediaries must improve their manager research. The search for skill continues to be conducted with the same lazy tools that have never worked in the past and never will in the future. It’s like the allegory of the drunk and the streetlamp: The drunk loses his keys at night in a park across the street, but he looks for them under a nearby streetlamp because it’s easier to see.
Antiquated Evaluation Tools
The old performance evaluation tools are indexes and peer groups. These are awful barometers of success or failure. Indexes don’t work because many skillful managers don’t live in style boxes, nor do they hug indexes. Peer groups don’t work because they are loaded with biases and are comprised of losers since most fail to outperform their benchmarks. Beating the losers does not make a winner. Peer groups of hedge funds are exceptionally silly because hedge funds are unique, so by definition they can’t be grouped together: “Unique” means without peer. Hedge fund peer groups epitomize classification bias because the members don’t belong together. (For further details, see “The Compelling Case for Changing Hedge Fund Due Diligence.”)
Investment management consulting is a fungible credence good: a service that is difficult if not impossible to properly assess before or even after consumption. Credence good markets emerge when sellers are much more knowledgeable than buyers. This fact has propelled so-called “robo-advisers” into the limelight, because if you can’t tell the difference, you might as well buy the cheapest.
Clients (buyers) need to wise up. There’s a good reason why active managers selected by consultants fail to deliver value add: Consultants aren’t trying hard enough because they don’t have to. This laxity applies to advice-only consultants as well as outsourced chief investment officers (OCIOs). It would be better to not pretend at all. That’s why intellectually honest robo-advisers have given up on the search for skillful active investment managers.
see more at: https://blogs.cfainstitute.org/investor/2015/10/07/better-investment-consulting-is-long-overdue/
Friday, October 2, 2015
L.A. Law Enforcement Consulting Firm Will Be Consent Decree Monitor
Mayor Frank Jackson and U.S. Attorney Steven Dettelbach announced this morning that the L.A.-based Police Assessment Resource Center (PARC) has been selected to monitor Cleveland's implementation of police reform, outlined in the Consent Decree.
PARC's Vice President and Deputy Director Matthew Barge will lead the Cleveland team, which will include several national law enforcement veterans and Tim Tramble, the director of Kinsman's Burten, Bell, Carr Development Corporation.
PARC has been nationally recognized for their "cutting-edge" work (according to its application), and its President serves as the Independent Monitor in Seattle, a city, like Cleveland, in the midst long-term of police reform.
The City of Cleveland will pay PARC $4.9 million over the course of five years, significantly less than the most expensive proposal, which was reported last week at $13 million. The PARC-led team could stay on longer than five years, though, if the city fails to comply with elements in the Consent Decree.
PARC's Vice President and Deputy Director Matthew Barge will lead the Cleveland team, which will include several national law enforcement veterans and Tim Tramble, the director of Kinsman's Burten, Bell, Carr Development Corporation.
PARC has been nationally recognized for their "cutting-edge" work (according to its application), and its President serves as the Independent Monitor in Seattle, a city, like Cleveland, in the midst long-term of police reform.
The City of Cleveland will pay PARC $4.9 million over the course of five years, significantly less than the most expensive proposal, which was reported last week at $13 million. The PARC-led team could stay on longer than five years, though, if the city fails to comply with elements in the Consent Decree.
read more: http://www.clevescene.com/scene-and-heard/archives/2015/10/01/la-law-enforcement-consulting-firm-will-be-consent-decree-monitor
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