Copenhagen - April 6, 2020 – From today, Bain & Company and QVARTZ are formally operating under one name, forming a strategic management consulting powerhouse in the Nordic region. Bain Nordics offers high-end consulting services for multinationals, local corporations and fast-growing scale-ups in Denmark, Finland, Norway, and Sweden.
In late 2019, the two companies signed a binding agreement to integrate their Nordic businesses. Now both operate as the Nordic region of Bain & Company. The combined, New Bain Nordics boasts over 50 partners, and a total team size of approximately 450 professionals.
“Our Nordic relationships – our Nordic DNA – is of major importance to our clients,” says Hans Henrik Beck, Managing Partner and co-founder of QVARTZ. Beck continues “Now we combine the Nordic DNA of Bain's four Nordic offices and QVARTZ' three offices with truly global reach and knowledge.”
Dan Kuzmic, a Bain Director who has led Bain’s Nordic business since 2016 continues, “We offer our clients the best of both worlds: cultural fit and agility of a scale local Nordic consultancy, combined with the insight, processes, tools and reach of Bain’s global team creating a unique and winning formula in our markets.”
Beck and Kuzmic will now co-lead the New Bain Nordics through its integration and will set the team’s sights on leadership in the Nordic markets.
Number one in the Nordics
Over the past decade, both companies saw high growth built on similar values: Within 45 years, Bain has grown to become one of the three big strategy consulting firms worldwide. QVARTZ, within 15 years, grew to a consulting star in the Nordic region. Both companies’ successes relied on two basic values: To deliver material results, by working with and not for clients.
“Our corporate culture can be summed up like this: We are challengers, we have a sense of mission, we are culture fanatics, we strive for client impact, and we are team players,” Beck notes. Adds Kuzmic: “And now that we have joined forces we have a clear aim: We want to become no.1 in the Nordics. We have a perfect starting position, with a strong Nordic organization and a highly successful history in teaming up with our clients to achieve true results.”
Cultural insight plus international expertise
Together, Bain and QVARTZ make for a top consultancy with Nordic values and cultural integrity as well as global scope and reach. “Thinking and understanding the Nordic way was one of QVARTZ' major advantages,” says Beck. “And we will carry it over to Bain Nordics where our ways of thinking and working are already in place.”
Bain Global, on the other hand, will add depth in terms of tools, processes, and thought leadership – as well as broad consulting expertise spanning all industries. Also, clients will have access to Bain’s extensive network of consultants and experts around the globe. “Bain’s toolkit and intellectual property are indisputably first class. Also, Bain’s global footprint means our Nordic clients can get support in whatever market they need it. Our ‘best team for the purpose’ approach will add the expertise of over 1,000 partners and 250 expert advisors to our Nordic offering,” says Kuzmic.
Continues Kuzmic: “Combining our strengths we will stay relevant to our clients. In an increasingly changing world with new and emerging challenges they want the leading edge of insight and service from their consultants. Dealing with challenges from digitalization to pandemic preparedness require both global and local insights and expertise – and we offer it. The integration of QVARTZ Analytics and Vertical – the advanced analytics and digital innovation arms of QVARTZ will be a strong addition to Bain's digital capability in the Nordics, enabling us to push even harder on the digital transformation agenda."
Best place to work
Bain Nordics will continue to build its reputation as an excellent place to work. Both predecessor organizations had a “best place to work” status, not least for mothers and fathers. This can be seen in Glassdoor’s Best places to Work index: Since the index started in 2009, both companies ranked within the top five of consulting companies. And for five consecutive years, both companies ranked within the top three in Vault’s ranking for Firm Culture in Europe.
“Bain Nordics will stay focused on being a magnet for the best young and experienced talent in the industry. In the future, we will be able to offer unparalleled career opportunities in the Nordic countries and globally,” says Kuzmic.
Fast facts about the New Bain Nordics
- Founded April 2020, by integrating consulting firms Bain & Company and QVARTZ, incl. the two sister companies QVARTZ Analytics (founded in 2017) and innovation company Vertical (owned by QVARTZ since 2017)
- Four Nordic offices with 450 people: Copenhagen, Helsinki, Oslo and Stockholm
- Leadership of Bain Nordics: Managing Partners Dan Kuzmic and Hans Henrik Beck
- Bain Nordics office heads: Guy Brusselmans & Rune Wichmann (Copenhagen), Anders Roed Bruhn & Lars Jacob Bø (Oslo), Christine Frostmark & Johan Lemchen (Stockholm), Jani Kelloniemi (Helsinki)
- Can count on expertise and reach of a global leader: Bain has 58 offices worldwide with 10,500 people, situated in 37 countries
- Carries a well-established name: More than 60 percent of Global Fortune 500 companies have worked with Bain
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Since its founding in Copenhagen in 2002, QVARTZ extended its operations to include offices in Oslo, Norway, and Stockholm, Sweden, and grew to become the third largest strategic consultancy in the region, competing with the likes of McKinsey & Company and Boston Consulting Group.