Press Release

Bain & Company opens 2 new offices: in Istanbul to serve clients in dynamic Turkish markets and Washington D.C. to meet growing client demand in Mid-Atlantic Corridor; total number of offices reaches 48

3 June, 2012

Global business consulting firm Bain & Company today officially announced the opening of offices in Istanbul and Washington, taking the total number of worldwide offices to 48. The office in Istanbul is Bain’s 20th in Europe, establishing its official footprint in a region that the firm has served clients in for more than 30 years. Bain also opened a Washington D.C. office, the firm’s third in the mid-Atlantic corridor.

“Opening our first Turkish office is a testament to the increasing demand from our clients who are investing heavily in this area of the world,” said Bob Bechek, Bain & Company’s worldwide managing director. “Since Bain started working in Turkey, we have been advising a widening portfolio of clients in the region, accumulating extensive local knowledge and delivering an excellent record of results. Opening an office in Istanbul further demonstrates our long-term commitment to this country.”

Bain Partner Karaca Kestelli, a member of the firm’s Financial Services Practice, will lead the Turkish office with Roberto Fiorello, a partner in the firm’s Telecommunications, Media & Technology Practice. Kestelli has advised leading financial institutions for more than 16 years in Turkey, the Middle East and Australia. Fiorello’s 15 years of consulting experience includes client engagements with financial, telecommunications and high-tech companies. “Change-oriented Turkish companies are a healthy mixture of global players and local companies,” Kestelli said. “Bain can play to its strengths in Turkey from day one and will rapidly grow on the strength of our client relationships and the overall Bain network in the region while establishing new and deep relations with local executives.”

“Turkey is emerging as a key regional player – both as a magnet for foreign investment and a substantial investor in central and Eastern Europe, as well as the CIS countries,” added Olivier Marchal, regional managing director for Bain EMEA. “These factors all point to promising growth and expansion in the region for our clients and we look forward to Karaca’s leadership for the next chapter of growth for our firm.”

Bain’s Washington, D.C. office is being opened to meet growing client demand in the mid-Atlantic region. The office will be headed by veteran Bain & Company partner, and former chief executive of Princess Cruises and president of Teleflora, Phil Kleweno. Mr. Kleweno is a leader in Bain’s global Retail and Higher Education Practices. He specializes in developing top-line growth strategies for mid-sized companies, often those owned by private equity sponsors, in industries such as consumer and retail, hospitality, media and publishing, financial services and e-commerce. In addition to his work in the private and commercial sectors, Mr. Kleweno is a recognized expert in the higher education sector, most recently leading a comprehensive turnaround at a major multi-campus state university, helping to resolve entrenched and protracted budget and planning issues.

Dave Johnson, regional managing director of Bain’s operations in the Americas, said, “We look forward to Phil’s leadership in building upon our successful history of creating real results for Bain clients served in the greater Washington, D.C. market. Washington, D.C. is also an increasingly important destination for recruiting the talent Bain needs to retain and support the growth of our business.”

- Ends -