Bain: a confusion of names

Ann Crotty’s column (Boardroom Tails, August 31-September 6) took a stab at consultants, calling for greater insight and transparency into their fees.

Given the current state of affairs in SA, there is no issue with raising the flag on questionable or unethical behaviour and practices. The media have been doing much more than their bit on this front.

But broad, sweeping statements about an entire industry should not be made — to do so is short-sighted and disingenuous.

In her column, Crotty referred to Bain, but this is confusing for a reader since there are two Bains — consultancy Bain & Company and private equity firm Bain Capital. It makes little sense, since the column speaks of consultants taking over, yet Crotty wrongly cites as an example what the private equity firm (Bain Capital) is supposed to have done at Edcon to support her argument.

Of course, this confused reference might not have been picked up by everyone, but it is damaging for the firm (in this case, Bain & Company) that was incorrectly cited.

Finally, when individuals and firms don’t walk the straight and narrow, it should not be made an industry issue. Nor is there anything wrong with highlighting stories of success and impact; we sorely need those stories now.

head of external relations: Africa, Bain & Company