They deserve no special treatment
ANN CROTTY: The secret world of consultants
Bright light of disclosure is what consultants need
So, who knew Standard Bank was employing McKinsey? Presumably it was for some sort of strategic advice. But isn’t this the bank that had two CEOs? Each of whom was getting paid about R45m/year, with bags of share options? And the hugely expensive leadership of this group didn’t end there. Executive and nonexecutive directors and layers of management were very well paid. So what were they getting well paid for if not to provide strategic direction to their company? How much strategic direction can one company get? And are there enough people on hand to take all that direction?In a recent defence of Standard’s leadership policy, chairman Thulani Gcabashe waxed lyrical about the complexity of the bank’s operations and the absolute need for two CEOs. His argument sounded so compelling — why stop at two? Perhaps that’s where consultants come in; they provide scope for hordes of leaders. News about Standard Bank’s involvement with McKinsey would have remained hidden from sight were it not...
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