Global management consultancy Oliver Wyman grows revenues by 9% to $3.4 billion
Global strategy and management consulting firm Oliver Wyman has grown its global revenues by 9 percent over the past year to $3.4 billion.
In addition to Oliver Wyman, New York-headquartered Marsh McLennan is made up of insurance broking and risk management flag-ship Marsh, human capital consultancy Mercer, and reinsurance specialist Guy Carpenter.
Together, their combined revenues of $24.5 billion to the end of last year represents an 8 percent rise on the previous period, which in turn saw 10 percent growth on 2022 when the 150-year old firm surpassed $20 billion for the first time.
“Our fourth quarter results capped a terrific year for Marsh McLennan,” stated president and CEO John Doyle. “We delivered on our strategic objectives, generated excellent financial performance, and had the largest year of acquisitions in our history. We are well positioned for another strong year in 2025, reflecting our unique capabilities and the enduring value we bring to clients.”
While the bulk of Marsh McLennan’s revenues derive from risk & insurance services – at $15.4 billion last year – the contribution of Oliver Wyman continues to grow. The consulting firm has added more than $1 billion to its annual take from pre-pandemic levels, jumping from $2.1 billion in 2019 to $3.4 billion over the past five years, a period most recently marked by tough market conditions.
In an earning conference call, Doyle noted that the firm was seeing demand pick up again for Oliver Wyman’s services, as evidenced by its almost $1 billion fourth-quarter take, with chief financial officer Mark McGivney adding that the consultancy’s growth had occurred across all regions and segments, albeit without providing a geographic breakdown of Oliver Wyman’s figures.
In general, the United States and Europe remain the company’s powerhouse regions. China’s economic slowdown has seen global consultancy revenues slow in the Asia Pacific following sharp rises in the recent past, and while the sector in Australia is battling a number of headwinds, Oliver Wyman has been a notable grower in the country.
