Drawing on the capabilities and experiences of our heritage, we plotted our own strong and distinctive course.
We purposefully created a true partnership, with one-partner-one-vote at its core, to create the organizational bedrock for achieving lasting success together, as one firm.
What does a true partnership mean? Why is that different from a corporation? It’s about shared ownership and total responsibility, the freedom to decide and act in the best long-term interests of our clients and our firm.
“We clearly wanted a partnership culture, where you build governance around trust and comradeship, and family-type behavior, as opposed to a corporation where ownership is often placed outside the organization and people are looking in, appointing a board, appointing a CEO, and controlling the business through quarterly reporting. We wanted an organization that’s built on trust, stewardship and under partnership principles.
That partnership model was very, very important. As we took the plunge, we didn’t make a lot of money in the beginning, but we did manage to get 130 partners to believe. Basically, all those that had been managing directors in the old firm signed up, put some capital into the firm. I think we lost very few clients through this journey and we’ve lost very few people.
The business took a bit of a dip, but as soon as we were up and running again, the clients were there, the people were there and all the guys that had been leaders of the old firm were leaders of the new firm.”
“You need to have some sort of entrepreneurial attitude to be successful in a partnership, but this is a bit different from just doing that in order to grow your own business. We want to grow the entire firm and therefore we have a much broader perspective than just developing your own competence, your own people, your own practice.”
“We treat clients and people well. People trust BearingPoint. We are extremely fair, and we do not abandon ships. The quality and commitment of our people is really high. I remember one situation where a client had a very difficult 'go- live‘ on a production site that delivered equipment for their worldwide supply chain. Our people literally worked day and night to prevent a supply chain rupture, because of issues that actually were not our responsibility. Our people didn't say ‘This is not my fault’ – they just fought through and worked day and night. This is a typical attitude of BearingPoint. We stick and we fight and we take it very personally. We are truly part of the game, we really put our skin into play.”
“We as partners accept that we have a responsibility for all our employees’ careers. So we do not develop the partnership for personal maximum gain, but to offer career opportunities for younger people who are not yet partners. The consequence is that we require from partners constant subordination of personal interest and financial gain. We put maximum priority on collective success.
We are not a bunch of individuals. We are a group of partners who have decided to work together, to become successful together and to offer career opportunities for those who show that they have the right skills and capabilities.
This is the definition of a true partnership and it is a big difference from any company where the shareholders are either investment firms or, through IPO, a public company.
All partners of BearingPoint are shareholders of the parent company. So when a partner in Germany helps a French partner to win a project, they are working as one unified partnership.
We have one-partner-one-vote, whether you are a newly promoted partner or a very senior partner, and we vote for any strategic decision.
Both one-partner-one-vote and the unified partnership reinforce long-term stewardship. Building a firm that is not only strong now but gets progressively stronger over time.”
“We selected BearingPoint as our analytics partner because of their strong industry and marketing expertise, and their advanced HyperCube tool which we believe will provide LV= with a unique competitive advantage. Not only do we have a better understanding of the impact of spend across channels on our customers, we now also have an integrated process to plan our spend by working across all our internal teams and media agencies.”
Head of Marketing Analytics,