Jon Moynihan

Jon Moynihan, OBE (born 21 June 1948) is Executive Chairman of PA Consulting Group, the global implementation-oriented consulting firm, with some 3,000 personnel operating in more than 35 countries.

Moynihan joined PA Consulting Group in 1992, as CEO. In 1997 The Wall Street Journal published an article giving an extensive review of PA’s turnaround, focusing on Moynihan’s role in that.The Wall Street Journal Europe (9 July 1997). Article by Shailagh Murray: [http://webreprints.djreprints.com/825380969108.html "British Consultancy Found Needy Client In Its Own Office - PA Group's Overhaul Offers Lesson in How to Survive Increasingly Tight Sector"] ] In 1999, London’s "The Sunday Times" published an article discussing PA’s further success, highlighting Moynihan’s contribution to that.] ]

Jon also chairs Ipex Capital [http://www.ipexcap.com/ Ipex Capital] , the demerged venture capital arm of PA, helping to bring leading-edge new technology capabilities to the market. To date, Jon has chaired all of PA's dozen or so ventures from inception through to disposition. Six of PA’s ventures have been sold to date, the most successful being Meridica Inc (maker of a novel drug inhaler), sold for $125m, and UbiNetics Ltd (3G mobile phone technology), sold for $132.5m.PA Consulting Group (12 November 2004). Press release: [http://www.paconsulting.com/news/press_release/2004/pr_121104_pfizer_meridica_complete.html "Pfizer completes acquisition of drug delivery technology venture from PA Consulting Group"] ] PA Consulting Group (23 May 2005). Press release: [http://www.paconsulting.com/news/press_release/2005/pr_2005_PA_3i_ubinetics_testing_business.html "PA Consulting Group and 3i announce sale of UbiNetics' testing business"] ] PA Consulting Group (28 July 2005). Press release: [http://www.paconsulting.com/news/press_release/2005/pr_20050728_pa_3i_sale_ubinetics.htm" PA Consulting Group and 3i announce sale of UbiNetics"] ] The Ipex portfolio includes Aegate, an innovative leader in the field of drug authentication, formed to provide a global solution to the burgeoning problem of counterfeit drugsFinancial Times (20 November 2006). Article by Andrew Baxter: [http://www.paconsulting.com/news/about_pa/2006/The+war+on+drugs+copycats.html "The war on drugs copycats"] ] [http://www.aegate,com/ Aegate] ; Aditon, providing a new way of creating and disseminating content on mobile phones, financed by advertisingMoMo London (10 January 2007). London Nominations, Short list: [http://mobilemonday.org.uk/2007/01/momo-golbal-peer-awards-london.html "MoMo Global Peer Awards"] ] [http://www.aditon.com/ AditOn] . ProcServe continues to be a wholly owned business of PA Consulting Group, offering e-procurement solutions to both the Public and Private SectorsFinancial Times (11 July 2007). Article by Andrew Baxter: [http://www.paconsulting.com/news/about_pa/2007/FT+ProcServe+story+1.html "From chaos comes the ‘eBay for business’ – The new order of corporate on-line purchasing"] .] [http://www.procserve.com/ ProcServe]

History

Moynihan was educated at Balliol College Oxford (BA and MA in Psychology and Philosophy - PPP), North London Polytechnic - now part of the London Metropolitan University (MSc in Applied Statistics), and Massachusetts Institute of Technology (MS in Business and Finance).

After leaving Oxford University, Moynihan worked for a year at Track Records, the management company for The Who and other rock bands. He then worked for some 18 months in India and Bangladesh, for War on Want and Save the Children. On his return to the UK, he worked at Roche Products Ltd, the UK arm of Hoffman-La Roche, as product manager for various anti-cancer, anti-epileptic, and anti-anxiety and insomnia drugs, including Valium and Mogadon.

After taking his degree at MIT, Moynihan worked first at McKinsey & Company in Amsterdam (1977-79), then at Strategic Planning Associates (which became Mercer Management Consulting, and latterly Oliver Wyman) in Washington DC (1979-81), and then as a partner at First Manhattan Consulting Group in New York, from 1981 to 1992.

Publications, references and articles by, to and about Jon Moynihan

Moynihan has been interviewed in and quoted by various publications, ranging from The Economist to the American Banker, Barrons and Newsweek. He has lectured on Strategy and on Leadership at Wharton; the University of Michigan; and Massachusetts Institute of Technology. He authored a series of reports on global trends in Managing for Shareholder ValueAvailable from PA Consulting Group: [http://www.paconsulting.com/insights/managing_for_shareholder_value/contact_us/ "Request Managing for Shareholder Value publications"] ] . He authored a 70-page handbook on trends in Banking M&A in the United StatesAvailable from First Manhattan Consulting Group [http://www.fmcg.com/ "First Manhattan Consulting Group"] ] .

Moynihan has written extensively on executive compensation and incentives, arguing that top executives are usually inappropriately incented and thus often over-rewarded, commencing with an article exploring the causes of this on the "Financial Times"' opinion page in 1993.Financial Times (22 April 1993). John Moynihan: [http://www.paconsulting.com/news/by_pa/1997/Slimming+programme+for+fat+cats.htm "Personal View: A slimming programme for fat cats"] ] However, in a letter to the "Financial Times" (FT) in 2007, he defended high level top executive reward when it is tied to high creation of shareholder value.Financial Times (20 June 2007). Article by Jon Moynihan: [http://www.paconsulting.com/news/by_pa/2007/FT+shareholder+value.html "Big bonuses match big returns for shareholders"] ]

"The Economist" wrote about PA's unique approach to top level compensation, and Moynihan's role in formulating that approach, in 1998, showing that PA’s approach, adopted by only some 10% of companies, led to superior creation of shareholder valueThe Economist (28 August 1998). [http://www.paconsulting.com/news/about_pa/1998/about_pa_199808280.html "An incentive scheme that works: Pay purview, How one knowledge-intensive company has overhauled its incentives"] ] . More recently he has written on the UK pensions crisis, for example in the FT in 2006 and 2007, arguing for more realistic analysis of the problem, and calling for more proactive approaches by regulators and the Bank of EnglandFinancial Times (20 January 2006). Article by Jon Moynihan: [http://www.paconsulting.com/news/by_pa/2006/The+pensions+black+hole.html"The pensions black hole may not turn out as deep as we fear"] ] Financial Times (26 June 2007). Article by Dr Ros Altmann, Professor Willem Buiter and Mr Jon Moynihan, Chairman of PA Consulting Group: [http://www.paconsulting.com/news/by_pa/2007/FT+letter+gilt+issuance.html "A new chance to raise gilt issuance"] ]

He has challenged the litigation culture in the US in a letter to the FT titled: ”When a lawsuit can descend into economic lunacy for shareholders".Financial Times (24 October 2006). Article by Jon Moynihan: [http://www.paconsulting.com/news/by_pa/2006/Economic+lunacy+for+shareholders.html "When a lawsuit can descend into economic lunacy for shareholders"] ]

He has written various articles relating to trends in the industry sectors of the various venture companies he chaired. See, for example, “It’s the Handset, Stupid”, a prescient call in "The Wall Street Journal" for products such as Motorola's RAZR and Apple's iPhoneThe Wall Street Journal Europe (24 May 2004). Article by Jon Moynihan: [http://www.paconsulting.com/news/by_pa/2004/240504_3G_Handset.html "Waiting for 3G: It's the handset, stupid"] ] . And in a letter to the FT he reviewed the negative consequences of the 3G mobile phone spectrum auctions during the 1990s, arguing that while large amounts were garnered for National Treasuries, the industry itself was badly damagedFinancial Times (28 November 2002). Article by Jon Moynihan: [http://www.paconsulting.com/news/by_pa/2002/by_pa_200211280.html "The high prices telecoms companies paid for 3G licences were irrational"] ] .

In a lengthy 2007 letter to the FT he reviewed the causes of the UK’s Northern Rock crisis, arguing that while Northern Rock had to carry much of the blame, UK regulators were also at faultFinancial Times (20 November 2007). Article by Jon Moynihan: [http://www.paconsulting.com/NR/exeres/B54DBBCD-01CB-4556-AACE-B74848F6DB13,frameless.htm?NRMODE=Published "Blame for liquidity crisis does not lie with Northern Rock alone"] ] .

In April 2003, the FT published an extensive report on UbiNetics, PA’s 3G Mobile Venture chaired by Jon MoynihanFinancial Times (16 April 2003). Article by Andrew Baxter: [http://www.paconsulting.com/news/about_pa/2003/about_pa_20030416.html"View from the top: Jon Moynihan of UbiNetics. Blue sky the other side of 3G"] ] .

A review of PA's successful Ventures programme, and Jon's role in it, was published in the FT in 2005Financial Times (1 September 2005). Article by Andrew Baxter: [http://www.paconsulting.com/news/about_pa/2005/Advisers+harness+home-grown+ideas.html "Advisers harness home-grown ideas. After the dotcom boom, PA Group is one of the few management consultancies continuing to run its own start-ups"] ] .

In 1999 he predicted the dot-com crash in a letter to "The Wall Street Journal", entitled “The Doomed Cult of Equities”The Wall Street Journal (26 January 1999). Article by Jon Moynihan: [http://www.paconsulting.com/news/by_pa/1999/by_pa_2003011999.html "The doomed cult of equities"] ] , and in 2001 was interviewed in the "Financial Times" as to how to manage in the coming downturnThe Financial Times ( 25 January 2001). Article by Michael Skapinker: [http://www.paconsulting.com/news/about_pa/2001/about_pa_200101260.html "Managing in a downturn: Young companies could face experience problems"] ] .

He contributed a still-referenced chapter, on Swap pricing and profitability measurement, to the first "Handbook of Currency and Interest Rate Risk Management"New York Institute of Finance, 1990.] .

He revealed details of PA Consulting's unique approach to leadership development in an interview with the FT in 2005Financial Times (16 December 2005). Article by Alison Maitland: [http://www.paconsulting.com/news/about_pa/2005/Top+talent+schooled+in+introspection.html "Top talent schooled in introspection. Leadership development - PA Consulting uses self-analysis to strengthen succession"] ] . He was quoted in "The Times" of London as having a distaste for brand advertising in the consulting industryThe Times (22 June 2000). Article by Des Dearlove: [http://www.paconsulting.com/news/about_pa/2000/about_pa_200006220.html "Fur flies over consultancies' ad spend"] ] .

He has worked for some years to assist the campaign for ‘opt-out’ legislation on organ donation, funding opinion polls on the matter and contributing to public debate on the issueBBC Radio 4’s 'Today' programme (19 December 2003). [http://www.bbc.co.uk/radio4/today/reports/misc/law_20031219.shtml "Future legislation: laws that would make Britain a better place to live."] ]

In 2007 the "Financial Times" wrote about Jon's hostile view regarding the pernicious influence of chocolate biscuits, and his successful and valuable campaign against themFinancial Times (29 May 2007). Article by Andrew Jack: [http://www.paconsulting.com/news/about_pa/2007/Jon+M+food+for+thought.html "Biscuit-free environment provides food for thought. PA Consulting reckons its ban has improved the quality of thinking at meetings"] ] A transcript from Jon's subsequent BBC radio interview on the same topic is availableBBC World Service - Europe Today programme (29 May 2007). [http://www.paconsulting.com/news/about_pa/2007/fruit+and+no+biscuits+policy.html "PA's 'fruit and no biscuits' policy. Summary of broadcast radio interview by Manuela Zaragoza with PA's chairman Jon Moynihan"] ]

Charitable and Voluntary activities, and other personal data

Moynihan is a Foundation Fellow of and, from 1995 to 2007, Chairman of the Campaign Board at Balliol College, which helped raise during his chairmanship some £36 million for the College. He is a founder member of the Dean's Council, Sloan School, MIT.

He was a member of the Dean's Business Advisory Group at the Said Business School from 1999-2006.

He is a Trustee of the Chelsea Festival. [http://www.chelseafestival.co.uk/ The Chelsea Festival]

He helped found, and was until recently Chairman of, The Helen Bamber Foundation, a charity headed by Helen Bamber that works with refugee victims of human rights violations. [http://www.helenbamber.org/ Helen Bamber Foundation] Jon was awarded the OBE in 1993.

Jon is a citizen of the United Kingdom and is married to [http://www.cfda.com/index.php?option=com_cfda_content&task=members_display&user_name=PatriciaUnderwood Patricia Underwood] , the Coty Award-winning hat designer and Board member of the Council of Fashion Designers of America.Modern Fashion Encyclopedia: entry for Patricia Underwood: [http://www.answers.com/topic/patricia-underwood "The outstanding characteristic of millinery designer Patricia Underwood's hats is they are, for the most part, completely unadorned"] ]

References

External links

* [http://www.paconsulting.com PA Consulting Group official website]
* [http://www.ipexcap.com Ipex Capital - Formerly the venture capital arm of PA Consulting Group]
* [http://www.procserve.com ProcServe - a wholly owned business of PA Consulting Group]