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Bain & Company has appointed its first Asian leader in the consultancy’s 44-year history after electing Manny Maceda as the firm’s new global managing director.
Mr Maceda, who was born in the US but raised in the Philippines, will take over from Bob Bechek who has led the Boston-based consultancy for the past six years.
Mr Bechek will stand down as global managing partner in March after having served two three-year terms. The 58-year-old was last year named the best-rated chief executive in the US by careers website Glassdoor. Under his leadership the firm has recorded double-digit revenue growth, according to Bain, which does not publicly report its revenue figures.
Mr Maceda has run Bain’s “Full Potential Transformation” practice, which provides companies with strategic advice on areas such as adapting to the digital era. The 54-year-old, who is based in San Francisco, previously chaired the firm’s Asia-Pacific business and ran its performance improvement and its re-engineering practices.
He told the Financial Times he is unconcerned about potential risks posed to the firm from “macro forces” such as global regulation, the increased importance of digital business models and the changing political environment. “[These] create more opportunities than risks,” he said. “I don’t lose too much sleep over what the possible problems are.”
He said his biggest challenge will be helping the firm to continue to attract and retain talented staff who share its ethos. “Our clients tell us we have a different type of people — they are more empathetic. I could lose sleep over wanting to protect that advantage,” he said.
The father-of-four added that he will intensify the company’s focus on digital in the coming months. “What I have seen for some years now is that the definition of what transformation means is for companies to become leaders in digital, from their customer interface to their business models. I will double-down and emphasise that as something we should be known for,” he said.
Before joining Bain in 1988, Mr Maceda worked with DuPont, the US chemicals group, in its engineering plastics group. He received a masters in management from the MIT Sloan School of Management in Massachusetts and an undergraduate degree in chemical engineering from the Illinois Institute of Technology.