Istanbul: Strategy consulting firm Bain & Company has opened its 47th worldwide office — in Istanbul, historic centre of commerce and today the economic base of one of Europe's most resilient economies.
The new office, Bain's 20th in Europe, establishes its official footprint in a region that the firm has served clients in for more than 30 years.
"Opening our first Turkish office is a testament to the increasing demand from our clients who are investing heavily in this area of the world," said Bob Bechek, Bain & Company's worldwide managing director.
"Since Bain started working in Turkey, we have been advising a widening portfolio of clients in the region, accumulating extensive local knowledge and delivering an excellent record of results. Opening an office in Istanbul further demonstrates our long-term commitment to this country."
Bain Partner Karaca Kestelli, a member of the firm's Financial Services Practice, will lead the office with Roberto Fiorello, a partner in the firm's Telecommunications, Media & Technology Practice.
Kestelli has advised leading financial institutions for more than 16 years in Turkey, the Middle East and Australia. Fiorello's 15 years of consulting experience includes client engagements with financial, telecommunications and high-tech companies.
"Change-oriented Turkish companies are a healthy mixture of global players and local companies," Kestelli said. "Bain can play to its strengths in Turkey from Day One and will rapidly grow on the strength of our client relationships and the overall Bain network in the region while establishing new and deep relations with local executives."
"Turkey is emerging as a key regional player — both as a magnet for foreign investment and a substantial investor in central and Eastern Europe, as well as the CIS countries," added Olivier Marchal, regional managing director for Bain EMEA. "These factors all point to promising growth and expansion in the region for our clients and we look forward to Karaca's leadership for the next chapter of growth for our firm."