PwC completes its acquisition of Booz & Company
PwC has announced the successful completion of its combination with Booz & Company. With the granting of all regulatory approvals for Booz & Company to join PwC, it is now officially part of the PwC Network. All closing conditions for the deal have been met.
Marking this occasion, Booz & Company has changed its name to Strategy& (pronounced Strategy and).
This new name, which will be used alongside the PwC name and brand, reflects the strength in strategy consulting that Booz & Company brings to the PwC Network and the benefits this deal will bring to all clients and stakeholders.
After a short grace period, Booz & Company can’t legally continue to use the Booz name following the change in ownership.
Welcoming the Strategy& team to the PwC Network, Dennis Nally, Chairman of PricewaterhouseCoopers International, said: “Today signifies an important step for PwC, our clients and stakeholders.
“Businesses are navigating unprecedented, disruptive threats and organisations increasingly want the right strategy and the ability to execute it.
“Together PwC and Strategy& meet this need – delivering superior value to our clients and stakeholders, attracting premium talent and helping businesses around the world build their capabilities on a global scale.
“This combination of PwC and Strategy& will see PwC lead the way in changing the landscape of the global consulting business.”
Suresh Kana, PwC Africa Senior Partner, said: “The addition of Strategy& increases the pool of talented people within the PwC Network. Strategy& deploys the best industry experts suited to a strategic challenge, on a global scale.
“Tapping into these global resources will enable PwC Africa to assist our stakeholders in solving important problems.”
Cesare Mainardi, Chief Executive Officer of Strategy&, said:“We are delighted to be joining PwC, the leading professional services network in the world, as it enables us to offer both our clients and our people a bigger, broader and better opportunity to connect strategy to impact.
“Strategy& brings a 100-year heritage of practical strategy advice to PwC’s broad and deep portfolio of expert advisory services. On day one, we can meet clients’ needs for a full menu of strategy-through-execution services, and a single point of access in delivering results.
“We have the footprint, the scale, the resources, and the proven capabilities to help global enterprises every step of the way from strategy to outcomes. It’s an exciting prospect.”
PwC Strategy&’s Board of Directors will be chaired by Tony Poulter, a PwC partner and global consulting leader. Cesare Mainardi will be CEO of Strategy&. He has been the CEO of Booz & Company for the past two years.
5 minutes with... Janthana Kaenprakhamroy, CEO, Tapoly
Founder and CEO of award-winning insurtech firm Tapoly, Janthana Kaenprakhamroy heads up Europe’s first on-demand insurance platform for the gig economy, winning industry awards, innovating in the digital insurance space, and leading with inclusivity.
Here, Business Chief talks to Janthana about her leadership style and skills.
What do you do, in a nutshell?
I’m founder and CEO of Tapoly, a digital MGA providing a full stack of commercial lines insurance specifically for SMEs and freelancers, as well as a SaaS solution to connect insurers with their distribution partners. We build bespoke, end-to-end platforms encompassing the whole customer journey, but can also integrate our APIs within existing systems. We were proud to win Insurance Provider of the Year at the British Small Business Awards 2018 and receive silver in the Insurtech category at the Efma & Accenture Innovation in Insurance Awards 2019.
How would you describe your leadership style?
I try to be as inclusive a leader as possible. I’m committed to creating space for everyone to shine. Many of the roles at Tapoly are performed by women and I speak at industry events to encourage more people to get involved in insurance/insurtech. Similarly, I always try to maintain a growth mindset. I think it’s important to retain values to support learning and development, like reliability, working hard and punctuality.
What’s the best leadership advice you’ve received?
Build your network and seek advice. As a leader, you need smart people around you to help you grow your business. It’s not about personally being the best, but being able to find resources and get help where needed.
How do you see leadership changing in a COVID world?
I think the pandemic has proven the importance of inclusive leadership so that everyone feels supported and valued. It’s also shown the importance of being flexible as a leader. We’ve had to remain adaptable to continue delivering high levels of customer service. This flexibility has also been important when supporting employees as everyone has had individual pressures to deal with during this time. Leaders should continue to embed this flexibility within their organisations moving forward.
They say ‘from every crisis comes opportunity’, what opportunities do you see?
The past year has been challenging, but it has also proven the importance of digital transformation in insurance. When working from home was required, it was much harder for insurers to adjust who had not embedded technology within their operating processes because they did not have data stored in the cloud and it caused communication delays with concerned customers at a time when this communication should have been a priority, which ultimately impacts the level of customer satisfaction. This demonstrates the importance of what we are trying to achieve at Tapoly in driving digitalisation in insurance and making communication between insurers and distribution partners seamless.
What advice would you give to your younger self just starting out in the industry?
Start sooner, don’t be afraid to take (calculated) risks and make sure you raise enough money to get you through the initial seed stage.