Bain & Company selects Mohit Wadan as next ANZ managing partner

Global strategy consulting firm Bain & Company has appointed Mohit Wadan as its next managing partner for Australia and New Zealand, with Wadan to succeed Peter Stumbles after six years from the beginning of April.

Mohit Wadan has been with the Bain & Company since 2008, after having joined the firm’s Melbourne office from Accenture, and has most recently served as co-head of its performance improvement practice for the Asia Pacific.

Meanwhile, Stumbles has led the global management consultancy’s ANZ practice since 2019, and is credited with driving double digit growth and a doubling of Bain’s partner count over that time, as well as overseeing two key acquisitions.

“Mohit is an outstanding leader with a proven track record at delivering complex and large-scale transformation for our financial services clients,” stated Asia Pacific regional managing partner Satish Shankar, likewise in his role since 2019. “Mohit has also mentored many colleagues and contributed significantly to our culture, and I’m confident that he’ll take our business to new heights.”

Wadan has been a partner at Bain for at least eight years and primarily serves clients in the insurance, banking, and wealth & asset management segments in areas such as strategy, performance improvement, IT, and customer & marketing.

Wadan said it was an incredible privilege to step into his new role: “Bain is truly an exceptional firm, and over my 17 years here, I’ve had the opportunity to work alongside some of the brightest, most passionate, and capable individuals I’ve ever met. I’m excited about the opportunities that lie ahead, to grow, innovate, and continue making a positive impact for our clients and communities.”

Wadan also gave praise to the leadership of Stumbles, who previously headed Bain & Company’s Asia Pacific financial services practice and has now been with the consultancy for more than 25 years. During his tenure, the firm made two local acquisitions, that of AI and machine learning specialist Max Kelsen Consulting in 2023, and regional procurement consultancy ArcBlue in 2022 the year prior.

The firm didn’t explicitly state if Stumbles would remain or what role he would take on next (Bain has a policy of periodically rotating its senior leadership, with former bosses tending to stay on and return to client work), but Stumbles himself said he was very much looking forward to the years ahead supporting Bain’s clients while offering his congratulations to Wadan on LinkedIn.

Meanwhile, Shankar said of the outgoing managing partner: “Peter has made tremendous contributions to our firm over the last six years, which included steering the business through the challenging pandemic years. Under his leadership, Bain & Company has significantly grown its market-leading position in Australia and New Zealand and delivered transformative results for our clients.”