Oliver Wyman – Learning from the ‘Experts’

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The atmosphere is bound to be brimming with excitement when a stalwart from one of the biggest global consulting firms is slated to set foot on the campus. Such was the aura on the afternoon of 26th December, 2016, as Mr. David Bergeron, Partner, Oliver Wyman, was welcomed gleefully by the students of Jamnalal Bajaj Institute of Management Studies. Mr. Bergeron leads Oliver Wyman’s India business, and has worked in many geographies across the world during his stint of over 15 years at Oliver Wyman. Accompanying him was Ms. Anupama Jain, an alumna of JBIMS from the batch of 2011, and currently an Engagement Manager with Oliver Wyman, Singapore.

Ms. Anupama first talked about Oliver Wyman and its contribution to making the world a better place by using its expertise to deliver impactful solutions. The purpose of the Oliver Wyman group is to bring exceptional people together to create value by making lasting contributions. She remarked that the consultants at Oliver Wyman are not just that, but they are ‘experts’ and ‘delivery partners’. The open and non-hierarchical culture at Oliver Wyman encourages innovative thinking, which has enabled the firm to make great strides in rapidly changing environments.

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Next up for discussion was ‘Indian Banks: Tacking into the Wind’ – Oliver Wyman’s report on the evolution of the Indian banking sector, published in December 2016. The report covers the span of a quarter of a century since the liberalization in 1991, and explores the dynamics and the stagnancies in the banking sector since then. The banking sector has undergone a sea change from being a snail-paced, rough-hewn domain to a spirited, sophisticated one. It has grown from being a business-oriented space to a customer-oriented one. But, with the plethora of opportunities that have opened up over the years due to rapid innovations, the banking sector has also become plagued with problems such as incomplete access to credit and asset quality strains. This dichotomy makes the sector look lopsided in the face of the very same innovations, much of the reason for it being improper implementation of policies by the stakeholders. The report scrutinizes the progress, opportunities, failures, and threats encompassing the Indian banking sector and also comments on the road ahead. Mr. Bergeron gave the students an overview of the contents of the report and touched upon the major points in it.

Mr. Bergeron then engaged with the students in an insightful Q&A session wherein he addressed the queries from students. He was left impressed by the thought-provoking questions posed by the inquisitive students, and he responded with thoughtful answers, often laced with wit. The students had an enriching experience and left all the wiser.