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McKinsey
& Company, Inc. is an American global management consulting firm that
focuses on solving issues of concern to senior management. McKinsey serves as
an adviser to many businesses, governments, and institutions, and is one of the
most prestigious consulting firms in the world.
History
McKinsey
& Company was founded in 1926 in Chicago by James McKinsey under the name
James O. McKinsey & Company. Previously, James McKinsey served as an
accounting professor at the University Of Chicago Booth School Of Business and
is considered the father of managerial accounting. Advocates for the concepts
introduced in McKinsey's book, Budgetary Control, were among McKinsey’s first
clients. The book founded the practice of managerial accounting.
Mr.
McKinsey hired Tom Kearney and Marvin Bower in the early 1930s. In 1935, In
1935, Marshall Field's became a client and in 1935 convinced McKinsey to leave
the firm to accept a temporary position and become its Chairman and CEO, in
order to help the company through a restructuring. After McKinsey left, the
remaining members of the firm agreed to merge with the accounting firm Scovell,
Wellington & Company in 1935, leading to the creation of McKinsey,
Wellington & Co.
Type
Incorporated Partnership
Industry Management consulting
Founded 1926
Founder(s) James O. McKinsey
Marvin
Bower
Headquarters 55 East 52nd Street
New
York City, U.S.
Key
people Dominic Barton (MD)
Services Management consulting services
Website www.mckinsey.com
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