NEW YORK—September 16, 2022— Bain & Company announced today that web3 and metaverse expert Richard Walker will join the firm as a partner in the Financial Services practice in the New York office and co-lead the global scaling of Bain’s web3 and metaverse services. As a leading thinker and practitioner in this space, Richard brings deep expertise in navigating how web3 has the potential to introduce new opportunities across a variety of sectors. He has deep experience having recently led web3 projects for global banks, regional banks, hedge funds, payments companies and digital asset natives.

Prior to Bain, Richard was practice head for blockchain and digital assets at another global business consulting firm. With nearly 30 years of consulting experience across the Americas and EMEA, much of his work has been serving major financial institutions and helping them with technology and operations strategies to understand and leverage the latest disruptive technology for competitive advantage.

“Web3 is a priority for our clients and has broad implications across sectors,” said Bain & Company’s Thomas Olsen, global co-lead of the web3 and metaverse practice. “Richard’s experience working with blockchain, digital assets and leading web3 projects for multiple financial institutions will help us scale our support to clients as they navigate the opportunities and challenges that web3 can present.”

While web3 has the potential to introduce new opportunities, it will also impact cost structures and profit pools. Tokenization, blockchain payment rails and decentralized finance (DeFi) are pushing financial institutions to rethink business models and market structures. Digital rights ownership (NFTs) will enable consumer brands to reimagine loyalty programs, engagement and brand experience. Moreover, the metaverse will change the way people engage with technology and commerce, propelling companies to rethink how they interact with customers in new virtual environments. 

“We are enthusiastic about helping our clients unpack the implications that web3 and the metaverse have on their industry and business,” said Bain & Company’s Gene Rapoport, global co-lead of the web3 and metaverse practice. “Richard has a long track record of helping financial institutions evaluate ways web3 technology could present opportunities and threats, and chart a course for long-term value generation.”

In addition to his client work, Richard will be an active member of the Veterans at Bain affinity group. He holds an undergraduate degree in Computer Information Systems from Chapman University in Orange, California.

For a complete list of Bain’s web3 leaders and services, click here.

Editor's Note: For any questions or to arrange an interview, please contact Dan Pinkney at dan.pinkney@bain.com or +1 646-562-8102.