Partner (business rank)

A partner in a law firm, accounting firm, consulting firm, or financial firm is a highly ranked position. Originally, these businesses were set up as legal partnerships in which the partners were entitled to a share of the profits of the enterprise. The name has remained although many of these entities are now corporations and equity is usually held by shareholders. Sometimes senior employees of the firm may have the title "partner" (e.g., "salaried partner") to indicate a profit sharing status. Salaried partners are distinguished from equity partners, who own the business.

See also

Partner

Partner or The Partner may refer to:

Books

Companies and brands

Sports and horse racing

Film and TV

Film

Chief executive officer

A chief executive officer (CEO in American English) or managing director (MD in British English) describes the position of the most senior corporate officer, executive, or administrator in charge of managing an organization. The CEO of a corporation or company typically reports to the board of directors and is charged with maximizing the value of the entity. Titles also often given to the holder of the CEO position include president and chief executive (CE).

Responsibilities

The responsibilities of an organization's CEO are set by the organization's board of directors or other authority, depending on the organization's legal structure. They can be far-reaching or quite limited and are typically enshrined in a formal delegation of authority.

Typically, the CEO/MD has responsibilities as a director, decision maker, leader, manager and executor. The communicator role can involve the press and the rest of the outside world, as well as the organization's management and employees; the decision-making role involves high-level decisions about policy and strategy. As a leader of the company, the CEO/MD advises the board of directors, motivates employees, and drives change within the organization. As a manager, the CEO/MD presides over the organization's day-to-day operations. The term refers to the person who takes all the decisions regarding the upliftment of the company, which includes all sectors and fields of the business like operations, marketing, business Development, finance, Human resources, etc. The CEO of a company is not necessarily the owner of the company.

Dominic Barton

Dominic Barton (born 1962) is a Canadian management consultant. He has been managing director of McKinsey & Co since 2009.

Early life

Dominic Barton was born in 1962 in Kampala, Uganda, where his father taught at a theology college and his mother was a nurse. He graduated from the University of British Columbia with a BA Honours in Economics and pursued an MPhil in Economics as a Rhodes Scholar at Brasenose College, Oxford University.

Career

Barton was one of six students from a high school class of 200, in Sardis, British Columbia, to attend college. After studying Economics at the University of British Columbia in Vancouver, Canada, he won a Rhodes Scholarship to attend Oxford University. He began his career as a currency analyst at Rothschild.

He joined McKinsey's Toronto office in 1986 and had a difficult time making partner, saying "It took me three times before I was elected a partner....I was working hard and I was rejected….it was a bit of a slap in the head." From then on, he said, "my bar will be higher than McKinsey's."

McKinsey & Company

McKinsey & Company is a private American worldwide management consulting firm headquartered in New York City. It conducts qualitative and quantitative analysis in order to evaluate management decisions. Eighty percent of the world's largest corporations are counseled by the firm, which is considered the most prestigious management consultancy. McKinsey publishes the McKinsey Quarterly, funds the McKinsey Global Institute research organization, publishes reports on management topics, and has authored many influential books on management. Its practices of confidentiality, influence on business practices, and corporate culture have experienced a polarizing reception.

McKinsey was founded in 1926 by James McKinsey in order to apply accounting principles to management. Mr. McKinsey died in 1937, and the firm was restructured several times, with the modern-day McKinsey & Company emerging in 1939. Marvin Bower is credited with establishing McKinsey's culture and practices in the 1930s based on the principles he experienced as a lawyer. The firm developed an "up or out" policy, where consultants that are not promoted are asked to leave. McKinsey was the first management consultancy to hire recent college graduates, rather than experienced managers.