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The World’s oldest consulting firm, Arthur D Little, has this last week appointed Thomas Manning to head up its North American operations.
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| Consulting-Times E-zine
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ADL declared bankruptcy last year and then went through a tortuous auction process to salvage the business. Various big brand consultancies expressed an interest at the time, but in the end the firm’s non-U.S. assets and brand name were bought by executives backed by French technology and engineering consultancy Altran.
The U.S. assets were bought by the firm’s chief creditor, Cerbetus Capital Management. Manning joins as the consultancy faces the uphill task of persuading clients back into the fold – overcoming the stigma of bankruptcy at a time when consulting as a whole is in the doldrums. Most commentators now foresee only a gradual improvement in order books for the remainder of 2003 – with stronger growth coming at best in 2004.
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