The new location of Bain & Company in the Philippines marks the company’s growing reach in the Southeast Asian region, the international business and management consultancy firm said on Thursday, June 23.
As part of the firm’s global expansion initiative, a private event that convened its local partners was also held alongside this announcement, driven by what Bain & Co. said as a “continued expansion of its client base” in the local and regional markets.
Bain & Co. managing partner for Southeast Asia Wade Cruse said that establishing a physical footprint in the Philippines was trigged by its double-digit growth and the country’s emerging economy highlighted by strong GDP and consumer growth.
“Beyond the underlying fundamentals, we have also seen increased investment activity through Covid-19, attracted by the pace of consumer change, increased digitalization, and a dynamic entrepreneurial environment,” he explained further.
Among the Fortune 500 companies, 60% are currently being served by Bain & Co. across 40 countries and 65 cities, supported by its 14,000 employees on a global scale. At home, the firm has presence in key sectors that include financial services, consumer products, retail, communications, media and entertainment, real estate, and advanced manufacturing services.
“For many years, we have had the ambition to establish Bain’s physical presence in the Philippines. We had already been serving local Philippine clients, multinational companies, and investors albeit from our other offices,” said Bain & Co. partner and Manila office head Patricia Buenaventura Nichol.
Nichol said a strong local presence led by a senior Filipino leadership team allows Bain & Co. to enhance its partnerships with clients, as well as further grow and develop local talent.
“It is our intent to bring in local, regional and global experts in key sectors to drive change at pace and we look forward to collaborating and supporting our business leaders and changemakers,” she explained.
Parallel to the company’s mission, the Manila office intends to work closely with business leaders as a way of helping its clients improve environmental, social, and governance (ESG), as well as digitalization and business generation.
The Manila office will be the fifth venture of Bain & Co. in Southeast Asia alongside Bangkok, Jakarta, Kuala Lumpur, and Singapore, and is expected to be a critical talent hub in the region.
“We are seeing a multitude of opportunities for our clients in Southeast Asia and given our deep understanding of the country’s most critical business issues, we are uniquely placed to handle clients’ management challenges and help them to achieve tangible, sustainable results,” said Jean-Pierre Felenbok, chairman of Bain & Company in the Philippines.
Mr. Felenbok concluded that the Philippine market poses potential, and with Bain’s global network at the ready, local clients will have access to the firm’s team of international experts.
