McKinsey suddenly puts its secretive $23-billion RIA under 'strategic review' with M&A shop; a spin-off or sale a possible outcome; it follows Nov. 30 London newspaper exposé
The New York super-consultancy retained Ardea Partners, a 2017 Goldman Sachs breakaway, to suss out its options for the in-house wealth manager and hedge fund company.
Author Oisin Breen January 30, 2025 at 4:05 AM
Brooke Southall and Keith Girard contributed to the editing of this article.
Vette
January 30, 2025 — 7:09 PM
Another likely motivator here is McKinsey's Dec 13 2024 , $650M settlement with the DOJ for McKinsey's role in the Purdue Pharma / Opioid issue. Presumably MIO is owned by the McK partnership and selling it off is a great way to raise the $650M vs. asking current partners to come out of pocket or take on debt...
Related Moves
Sleeping giant McKinsey & Co. hires Eric Clarke as it awakens to $9-trillion RIA business and plays catch-up
The New York City consulting giant quietly made the Orion founder and ex-CEO a McKinsey senior advisor two months after he stepped down last year.
