West Monroe Partners

West Monroe is a national management and technology consulting firm headquartered in Chicago, United States. [2] West Monroe provides professional consulting services to businesses across many industries, including consumer and industrial products, energy and utilities, financial services, healthcare, life sciences, private equity, retail, and software and high tech. Its capabilities include analytics and artificial intelligence, customer experience, cybersecurity, digital, mergers and acquisitions, and operations excellence. All employees share equity as part of the firm's Employee Stock Ownership Plan (ESOP).

West Monroe Partners, LLC
Private
IndustryManagement consulting
Banking
Credit Unions
Capital Markets
Private Equity
Insurance
Healthcare
Life Sciences
Energy
Utilities
Manufacturing
Distribution
Retail
Technology
Founded2002
HeadquartersChicago, Illinois
Area served
North America
Europe
Key people
Kevin McCarty (CEO)
Number of employees
1,369[1]
Websitewestmonroepartners.com

Office locations

West Monroe has seven offices in North America, including Chicago (headquarters), Dallas, Los Angeles, Minneapolis, New York City, San Francisco, and Seattle.

History

2002-2004: formative years

In April 2002, four former Arthur Andersen consultants met at Miller’s Pub in Chicago and founded West Monroe.[3] That group — which included Dean Fischer (Chairman of the Board Emeritus) and Kevin McCarty (currently CEO and Chairman of the Board) — established West Monroe Partners LLC, with the name deriving from Arthur Andersen's previous address on West Monroe Street in Chicago.[4] Dean Fischer became the company's first president and CEO.[5]

The firm began serving its first client, Equity Marketing Services, in June 2002, and went on to deliver business and technology consulting services to a variety of mostly Midwestern clients from its Chicago office.[6] In mid-2004, West Monroe hired its 50th employee and launched its first website.

2005-2009: expansion years

The years between 2005 and the end of the decade marked a period of expansion for West Monroe.[7] In 2005, the firm opened three new offices in Montreal (January), Seattle (October), and Columbus, Ohio (December).[8] During this year, the firm reached $10 million in revenue and hired its 100th employee, including members of West Monroe's first university recruiting class.[9] In 2006, the National Association for Business Resources named West Monroe one of its “101 Best and Brightest Companies to Work For” in Chicago.[10] Since then, it has garnered similar accolades locally in Chicago, Seattle, and Columbus, as well as nationally from Consulting Magazine and Vault.[6][11][12]

Expansion continued with the mid-2006 opening of a Toronto office and merger with LxLi, a consulting firm specializing in labor management and engineered labor standards.[13] In 2007, West Monroe opened an office in New York City (April) and one in Dallas (September).[14][15]

West Monroe established in 2007 a formal, 13-member Board of Managers. During this period, the firm started practices to serve specific industries; for example, the Energy & Utilities practice, which has worked with utilities across the country to plan and advance smart-grid strategies.[16][17] During the latter years of the decade, West Monroe also began to focus on multi-faceted business transformations.[18] The same year, West Monroe also welcomed its first intern class. All five members of the inaugural intern class are still at the firm today.[19]

2010-2017

In March 2010, West Monroe entered an international consulting alliance with BearingPoint, which has strong European roots.[20]

In April 2012, West Monroe celebrated its tenth anniversary in business. Later that year, in September, it named co-founder Kevin McCarty as president.[21] Dean Fischer retains the role of CEO. The firm added an office in Minneapolis in late 2012.[22]

At the end of 2012, West Monroe reorganized as an employee stock ownership plan.[23]

In October of 2013, West Monroe announced it had acquired On Point Consulting, a Minneapolis-based consulting firm focused on delivering Mergers and Acquisitions solutions[24]

In January of 2014, West Monroe announced it had acquired Madrona Solutions Group, a Seattle-based consulting firm focused on delivering customer relationship management and business intelligence solutions.[25] The same month it also announced the opening of its Los Angeles, CA office.[26]

In October 2014, president and co-founder Kevin McCarty was named as CEO. He replaced Dean Fischer, who retired and transitioned to the role of executive chairman of the board of managers.[27]

In October 2015, West Monroe announced it had acquired Etherios, a Salesforce platform. As part of the acquisition, the firm strengthened its presence in two markets, San Francisco, CA and Dallas, TX.[28]

In July of 2016, West Monroe announced it had acquired Invoyent, a Chicago-based healthcare consulting firm.[29]

2017-present

In 2017, West Monroe announced the acquisition of CAST Management Consultants, a financial services consulting firm based in Los Angeles.

In 2018, West Monroe added two new members to its Board of Managers, Barbara Duganier and Barbara Bennett, bringing the total number of outside board members to three.[30]

In the fall of 2018, West Monroe met a new headcount milestone, exceeding 1,000 employees.[31]

In January of 2019, West Monroe invested in an expanded leadership team by promoting three executives to newly formed C-level positions.[32]

In 2019, West Monroe acquired two companies: Waterstone Management Group, an advisory firm for private equity firms and Fortune 500 companies; and GoKart Labs, a digital product studio. The two transactions expanded West Monroe’s capabilities in software, high-tech, and digital transformation.[33]

In October of 2019, West Monroe signed a 12-year lease as the anchor tenant at 311 W. Monroe in Chicago’s Loop neighborhood. As the anchor tenant, West Monroe has naming rights and will call the building West Monroe HQ.[34]

Global alliance

In 2010, West Monroe announced a strategic consulting alliance with BearingPoint to expand their global market coverage and to better provide services to their international clients. Both firms offer business consulting services to help solve their clients’ most important and broader business issues. While BearingPoint has European roots, West Monroe is active in the North American management consulting market.[35]

Industry specialization

West Monroe maintains specialized capabilities in the following industries:

Competitors

West Monroe Partners’ competitors range from niche consulting firms with specific industry, functional, and technical expertise to the largest global management and technology consulting firms.

Recruiting

West Monroe has a team of more than 300 professionals with diverse skills: strategic and tactical, business and technology, functional and process, industry and market focused.[23] It recruits a mix of experienced personnel (approximately 67 percent of new hires) and entry-level consultants (approximately 33 percent of new hires).[36]

The firm uses a variety of methods to source talent, including employee referrals, social media and networking, staffing partnerships, and campus activities.

Awards and Recognition

West Monroe is consistently named as a best place to work by publications such as Great Place to Work and Fortune Magazine, Consulting magazine, Puget Sound Business Journal, Crain’s Chicago Business, Crain’s New York, Dallas Business Journal, and Minneapolis/St. Paul Business Journal.[37][38][39]

Publishing

West Monroe publishes a monthly newsletter for clients, as well as several industry-specific newsletters. These ongoing newsletters highlight key industry trends and issues facing C-level executives.

In addition, West Monroe authors multiple research studies and polls, white papers, perspectives, executive communications, and newsletters on a variety of topics.

gollark: "Rational" assuming what goals?
gollark: Virtue ethics bad, RNG ethics good.
gollark: You *could* still have a functional working one with entirely selfish people, I think. It would just be weirder and have more problems.
gollark: The thing about society is that it roughly lines up the incentives so even selfish individuals sometimes sort of do mutually beneficial things.
gollark: > It's the foundation of society.I don't really agree.

References
  1. https://www.westmonroepartners.com/About-Us
  2. "Company Overview of West Monroe Partners LLC". Bloomberg BusinessWeek. Retrieved 19 April 2013.
  3. Staff (1 June 2009). "Chicago's Best Places to Work". Crain's Chicago Business. Retrieved 19 April 2013.
  4. Staff (November 28, 2011). "In Brieft". Chicago Real Estate Daily. Retrieved 19 April 2013.
  5. "Top 25 Consultants of 2010". Top 25 Consultants of 2010. Kennedy Information. Retrieved 19 April 2013.
  6. Vault. "Vault Rankings 2013". Vault.com Inc. Retrieved 19 April 2013.
  7. Staff. "Inc Company Profiles". Inc 5000. Mansueto. Retrieved 19 April 2013.
  8. BusinessWire (14 August 2012). "West Monroe Partners Named one of Washington's Best Workplaces". Retrieved 19 April 2013.
  9. Staff. "West Monroe Partners Named Finalist for ITA CityLIGHTS Award". PressReleasePoint. Retrieved 19 April 2013.
  10. "Chicago's Best and Brightest Companies to Work For". National Association of Business Resources. Retrieved 19 April 2013.
  11. Staff Report. "West Monroe Partners". Best Firms to Work For. Retrieved 19 April 2013.
  12. Buchanan, Doug (30 September 2011). "Best Places to Work finalists announced". Business First Columbus. Retrieved 19 April 2013.
  13. "West Monroe Partners and LxLi Announce Merger Agreement". Information Management. 17 April 2006. Retrieved 19 April 2013.
  14. "West Monroe Partners Continues Growth With Sixth Practice Opening; Will Focus On Financial Services". PRNewswire. 5 May 2007. Retrieved 19 April 2013.
  15. "West Monroe Partners Opens Dallas Office". BusinessWire. 6 September 2007. Retrieved 23 June 2020.
  16. "Alameda Smart Grid" (PDF). PDF. Retrieved 19 April 2013.
  17. "The Smart Grid Journey: Embarking on Utility Transformation". Marcus Evans. Retrieved 24 April 2013.
  18. "West Monroe Drives Business Transformation Program for Prominent Dental Payer". West Monroe Drives Business Transformation Program for Prominent Dental Payer. Creds. Retrieved 19 April 2013.
  19. "5 internship dos and don'ts from West Monroe's inaugural intern class of 2007". 5 internship dos and don'ts from West Monroe's inaugural intern class of 2007. West Monroe. Retrieved 23 June 2020.
  20. "BearingPoint and West Monroe Partners in Global Alliance". Big 4. 15 April 2010. Retrieved 19 April 2013.
  21. "Kevin McCarty Promoted to President at West Monroe Partners". 4 May 2012. Retrieved 19 April 2013.
  22. "West Monroe Partners Opens Office in Minnesota". West Monroe. 4 December 2012. Retrieved 23 June 2020.
  23. "The Business and technology consultancy has restructured as an Employee Stock Ownership Plan trust". The Daily Herald. 5 February 2013. Retrieved 19 April 2013.
  24. "On Point Consulting". Crunchbase.
  25. "West Monroe Acquires Madrona Solutions Group". West Monroe. Retrieved 23 June 2020.
  26. "West Monroe Opens Los Angeles Office". West Monroe. Retrieved 23 June 2020.
  27. "Crain's Company Profiles". Crain Communications. Retrieved 19 April 2013.
  28. "West Monroe Acquires Etherios". West Monroe press release. Retrieved 19 April 2013.
  29. "West Monroe Acquires Invoyent". West Monroe press release. Retrieved 19 April 2013.
  30. "West Monroe Adds External Board Member to Advise During Significant Growth Phase". Press release. Retrieved 23 June 2020.
  31. "West Monroe named one of Chicago Tribune's Top Workplaces for 9th year in a row". Press release. Retrieved 23 June 2020.
  32. "West Monroe Promotes Three Executives to C-Level Positions". Press release. Retrieved 23 June 2020.
  33. "West Monroe Acquires Waterstone Management Group". Press release. Retrieved 23 June 2020.
  34. "West Monroe Inks 12-Year Lease as Anchor Tenant at 311 W. Monroe, Names Building 'West Monroe HQ'". Press release. Retrieved 23 June 2020.
  35. "BearingPoint and West Monroe Partners enter into Strategic Consulting Alliance". BusinessWire. 24 March 2010. Retrieved 19 April 2013.
  36. "West Monroe Partners". Glassdoor. Retrieved 19 April 2013.
  38. https://www.westmonroepartners.com/press-releases/west-monroe-named-to-crains-chicago-business-top-privately-held-companies-list
  39. https://www.prweb.com/releases/west_monroe_partners_named_to_2019_dallas_business_journal_list_of_100_best_places_to_work_in_north_texas/prweb16675561.htm
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