BearingPoint announces Matthias Loebich as its Managing Partner

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BearingPoint announces Matthias Loebich as its Managing Partner

2024-11-05 16:06 Last Updated At：16:40

AMSTERDAM--(BUSINESS WIRE)--Nov 5, 2024--

The partnership of the independent management and technology consultancy BearingPoint has elected Matthias Loebich to be its global Managing Partner. Matthias succeeds Kiumars Hamidian, who successfully headed the business since his appointment in 2018 and did not stand for re-election after two terms in office as planned. The new Managing Partner was elected by the BearingPoint Partners across the globe in a collaborative process based on the principle of One Partner - One Vote. The election process had been extended as Stefan Penthin decided not to take the position due to personal reasons and to continue as a Partner at BearingPoint. Matthias assumes his new role as Managing Partner with immediate effect.

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Matthias Loebich (52) has been with BearingPoint for 26 years and became a Partner in 2007. He has a proven track record in leading large transformation projects across different industries, working primarily in an international environment. Matthias was one of the founding Partners in the European management buyout in 2009, which established BearingPoint as an independent, Partner-owned management and technology consultancy. He has been a member of the firm’s global Management Committee since 2014 and in charge of BearingPoint’s worldwide consulting network as well as its joint venture Arcwide. Furthermore, he has been the regional leader of the firm’s North American and Asian practices. In addition to his role at BearingPoint, Matthias serves as Honorary President of the European Federation of Management Consultancies Associations (FEACO).

The cornerstones of Matthias’ 2030 agenda are empowering people and fostering genuine client orientation and global relevance by providing innovative products and services.

Matthias Loebich comments: “I am honored to be entrusted as the Managing Partner of our firm and am thrilled to be given the responsibility of contributing to writing the next chapter in the success story of BearingPoint. It is a privilege for me to take over from Kiu. His leadership has been instrumental in shaping our firm into the powerhouse it is today while delivering more for people, more innovation for our clients, and more for our planet.

“As I take on this new role, I’m excited about the journey ahead. I’m looking forward to further developing our firm along the strategic cornerstones of genuine client orientation, people empowerment, differentiation through innovative products, and leveraging global synergies. A key focus will be harnessing the power of our global presence and relevance to elevate the value we bring to clients. Our purpose, ‘Together, we are more than business,’ will remain our guiding principle as we move forward, building on the strong culture and values that Kiu has established.

“I look forward to working closely with our dedicated and talented teams across the globe, engaging with our great clients and network partners, and driving forward with the strategic vision that will take BearingPoint to the next level of its worldwide evolution while pushing the boundaries of what’s possible in consulting.”

Kiumars Hamidian comments: “Congratulations to Matthias Loebich! He is a globally well-respected senior leader with huge experience and knowledge across cultures inside and outside the firm, and I am confident that he will lead BearingPoint with the same dedication and vision that have been the hallmark of our success. Matthias’ deep international industry expertise and his leadership roles on a global as well as regional level for different markets around the globe make him exceptionally well-suited to lead BearingPoint into a prosperous future.”

Kiumars Hamidian, Managing Partner at BearingPoint since 2018, successfully guided BearingPoint through the pandemic and to new heights. Under his leadership, revenues rose to more than EUR 1 billion, and the number of employees increased to more than six thousand in 2023.

During Hamidian’s time in office, 14 acquisitions were delivered, a new subsidiary in India opened, and the US and Asia businesses expanded. In addition, the first joint venture, Arcwide, has been successfully established, and BearingPoint RegTech and BearingPoint Beyond (today flourishing as independent companies) have been successfully spun off. Moreover, BearingPoint established its purpose, “Together, we are more than business,” and embraced a people-centric culture.

After the handover phase to Matthias Loebich, Kiumars Hamidian will start his official early retirement phase in 2025.

About BearingPoint

BearingPoint is an independent management and technology consultancy with European roots and a global reach. The company operates in three business units: Consulting, Products, and Capital. Consulting covers the advisory business with a clear focus on selected business areas. Products provides IP-driven digital assets and managed services for business-critical processes. Capital delivers M&A and transaction services.

BearingPoint’s clients include many of the world’s leading companies and organizations. The firm has a global consulting network with more than 10,000 people and supports clients in over 70 countries, engaging with them to achieve measurable and sustainable success.

BearingPoint is a certified B Corporation, meeting high standards of social and environmental impact.

For more information, please visit:

Homepage: www.bearingpoint.com
LinkedIn: www.linkedin.com/company/bearingpoint
Twitter: @BearingPoint

Stock market today: World shares are mixed as investors eye the US election

2024-11-05 16:23 Last Updated At：16:30

World shares were mixed on Tuesday, with major benchmarks in Asia gaining more than 1%, as investors awaited the outcome of the U.S. presidential election and other potentially market-rattling events this week.

This week brings bring various potential flashpoints, among them Election Day in the United States. But the results may not be known for some time as officials count all the votes, and the uncertainty could roil markets.

Adding to the potential for volatility, the Federal Reserve will also be meeting on interest rates later this week. The widespread expectation is for it to cut its main interest rate for a second straight time.

The futures for the S&P 500 and for the Dow Jones Industrial Average were 0.1% higher.

In early European trading, Germany's DAX edged 0.1% lower to 19,125.18 while the CAC 40 in Paris shed 0.2% to 7,356.02.

Britain's FTSE 100 was down 0.1% at 8,179.73.

Share prices surged on Chinese markets as investors anticipated moves by Beijing to boost the world’s second-largest economy during a meeting of the Standing Committee of China’s National People’s Congress.

Hong Kong's Hang Seng jumped 2.1% to 21,006.97, while the Shanghai Composite index surged 2.3% to 3,386.99.

Officials are expected to endorse major spending initiatives to boost economic growth amid troubles for the country’s real-estate industry.

The official Xinhua News Agency reported that the lawmakers had reviewed legislation to raise ceilings on local government debt to replace existing hidden debts, part of a plan announced earlier to arrange debt swaps to help resolve the financial woes brought on by the pandemic and by a collapse in the property market in recent years. So far, no specific amount of funding for such efforts has been announced.

Elsewhere in Asia, Japan's Nikkei 225 index gained 1.1% to 38,474.90, reopening after a holiday on Monday.

South Korea's Kospi fell 0.4% to 2,576,88 after the country's military said North Korea launched multiple short-range ballistic missiles toward its eastern sea, continuing its weapons demonstrations ahead of the U.S. presidential election.

The S&P/ASX 200 in Australia dropped 0.4% to 8,131.80 as the central bank kept its benchmark interest rate unchanged.

On Monday, the S&P 500 slipped 0.3%, remaining near its record set last month. The Dow Jones Industrial Average fell 0.6%, while the Nasdaq composite slipped 0.3%.

The hope that’s propelled U.S. stock indexes to records recently is that the U.S. economy can remain resilient and avoid a long-feared recession, in part because of the coming cuts to rates expected from the Fed.

The broad U.S. stock market has historically risen regardless of which party wins the White House. And in 2020, U.S. stocks climbed immediately after Election Day and kept going even after former President Donald Trump refused to concede and challenged the results, creating plenty of uncertainty. A large part of that rally was due to excitement about the potential for a vaccine for COVID-19, which had just shut down the global economy.

A Trump victory would be less of a surprise to markets this time around than in 2016, when Treasury yields soared on expectations for tax cuts that could further inflate the nation’s debt or fuel a stronger U.S economy.

In the oil market early Tuesday, the price for a barrel of U.S. crude gained 27 cents to $71.74. On Monday, it rose 2.8% after Saudi Arabia and other oil producers said they would delay plans to increase the amount of crude they produced.

Brent crude, the international standard, advanced 23 cents to $75.31 per barrel. It rose 2.7% on Monday. The price of Brent is still down for the year so far, in part because of worries about how much demand will come from China given its economic challenges.

In currency dealings, the dollar rose to 152.36 Japanese yen from 152.10 yen. The euro climbed to $1.0886 from $1.0880.