Bain names Peter Stumbles as lead for Australia and New Zealand

11 April 2019

Global strategy and management consultancy Bain & Company has appointed Peter Stumbles as its new Managing Partner for Australia and New Zealand, in what marks the firm’s 30th anniversary of operations Down Under.

Having launched its first Australian office in Sydney in 1989 (adding branches in Melbourne and Perth since), the global strategy and management leader Bain & Company has marked its 30th anniversary in the country with the appointment of Peter Stumbles as its new Managing Partner for Australia & New Zealand – replacing David Zehner after seven years in the role.

Formerly the firm’s Financial Services head for the Asia Pacific, the Sydney-based partner has been with Bain for two decades, joining the firm in 1999 following a Bachelor of Engineering degree with the University of Sydney. In addition to heading Bain’s regional financial services practice, Stumbles has also served as a leader in its global Performance Improvement and Organisation operations.

Stumbles will now be tasked with overseeing the growth, strategy, talent and operations of Bain’s Australia and New Zealand arm, which has a headcount of 250-plus. “I’m honoured and energised to be asked to lead and serve our partnership in Australia,” he said. “It is a privilege to be able to support our clients on their most important issues, as they look to transform their businesses to grow faster, delight their customers, and evolve their business models.”Bain names Peter Stumbles as new managing partner for Australia and NZAlong with deep knowledge of the financial services domain, including extensive experience in wealth management, life insurance, payments, and retail, business, and personal & commercial banking, Stumbles has also served clients across Australia, New Zealand, Asia and North America in the technology, telecommunications, private equity, retail and industrials sectors among others.

“Peter has been a trusted member of the Bain family and our clients for the past 20 years and so I’m thrilled for him as he takes on this role,” said Bain Global Managing Partner Manny Maceda. “Australia and New Zealand have been a key region for growth since we first opened there 30 years ago, and it’s inspiring to see how it has developed into an industry leading market around digital transformation, customer focus and innovation.”

Stumbles replaces David Zehner after seven years at the helm, with Zehner now taking on responsibility for the firm’s Consumer Products practice for the Asia Pacific. According to the firm, its Australia and New Zealand practice has doubled its revenue during his tenure and grown to include 36 local partners  – with the firm launching its Perth office shortly before he assumed the role. Zehner has been with Bain altogether for 23 years, making partner in 2010.

“It’s been an honour to lead the Australia & New Zealand practice for the past seven years. I’m incredibly proud of the reputation we’ve built for helping our clients achieve outstanding results and the growth we’ve achieved as a consequence,” Zehner said. “I’m thrilled to have Peter taking over at the helm, as he is a respected leader across the firm with a proven track record for helping our clients increase profits, build sustained value and deliver lasting results.”

Jean-Pierre Felenbok

The firm has meanwhile made a second senior appointment in the Asia Pacific, with near 40-year company veteran Jean-Pierre Felenbok taking on the Southeast Asian managing partner position vacated by Satish Shankar’s recent appointment to the APAC regional role. Felenbok joined Bain in London in 1981 before crossing to Paris as a founding member of the firm’s French arm. A partner since 1987, he has for the past six and a half years overseen the firm’s Jakarta office from its launch in 2013.

“Jean-Pierre is a trusted partner, who has always focused on delivering the best to our clients, teams and the firm, so it will be exciting to see him continue to build our already successful Southeast Asia region,” Maceda said of Felenbok’s promotion. “Jean-Pierre’s unparalleled knowledge of the firm, experience and leadership will be a pivotal building block for our long term goals and I congratulate him on this appointment.”


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Ian Watt leads Energy & Environment arm of L.E.K Consulting Australia

15 April 2019

Ian Watt has joined L.E.K Consulting’s as a partner and leader of the firm’s Australian Energy & Environment practice. Watt is based in Sydney.

“We are delighted to welcome Ian Watt to L.E.K Consulting,” said Nick Holder, who leads the firm’s operations in the Asia Pacific region and is country leader of the Australia business. “His experience working with utilities to successfully address waves of market disruption and regulatory complexity bolsters our ability to drive value creation for clients.” 

Watt joins from Strategy&, where he worked since 2010, initially with Booz & Company before transitioning to Strategy& through PwC's $1 billion acquisition of Booz in 2014. He brings over a decade of experience advising clients in the energy, utilities, mining and industrials sectors across Asia Pacific, Europe, and North America. His experiences span the utility value chain, and comprise a mix of growth strategy (strategic planning, go-to-market models), operational transformation (cost, business model, and performance optimisation) and innovation (design of new products and services). 

During his career at Strategy&, Watt worked from the firm’s offices in London, Sydney, and most recently Calgary – he relocated to Canada in 2016 to help launch and build the Strategy& firm in the country. Prior to his consulting spell, he held several technical an economic consulting roles in the engineering industry, having started his career in Mott MacDonald’s consultancy team in the UK.

Ian Watt leads Energy & Environment arm of L.E.K ConsultingAt L.E.K Consulting, which has over 1,400 professionals globally, Watt will lead the Australian Energy & Environment practice. His appointment comes at a time when the energy & utilities sector is facing major change, with market disruption and regulatory complexity taking hold. According to L.E.K. Consulting, “Primary energy suppliers, OEMs and utilities, among others, turn to L.E.K. to benefit from its experience gathered over decades of tackling major strategic and operational issues in the sector.”

The presence of large energy conglomerates and mining giants means Australia's energy & resources consulting industry is the 2nd largest globally, trailing just the massive market of the United States. Government data shows that the resources sector comprise 15% to 20% of the national economy and up to 60% of Australia’s exports. BHP Billiton (the fourth largest company by revenue in Australia) and Rio Tinto (revenue of $40 billion) are major players in the space, meanwhile beyond mining & resources, companies such as energy retailers (e.g. Alinta Energy, BlueNRG, Click Energy, etc) and energy generators (e.g. AGL, Origin and EnergyAustralia) are ramping up their spending on external consultants in a bid to successfully position themselves for future sustainable growth. 

Watt’s move brings the total of new partners at L.E.K. in Australia to three this year. Previously, Joe Sponholtz joined the Sydney office from rival consultancy Partners In Performance, while Melbourne-based Philip Wheeler was promoted internally to partner.

Last week, Bain & Company named a new leader for its Australia and New Zealand division: company veteran Peter Stumbles.