Consulting firm founder guided Romney’s career

BOSTON — William “Bill” Bain Jr., the founder of global consulting and private equity businesses bearing his name who helped drive the career of former Republican presidential nominee Mitt Romney, has died. He was 80.

Bain died Tuesday at his home in Naples, Fla., according to his obituary. His wife, Ann Dean Bain, said the cause was complications of Alzheimer’s disease.

He founded Bain & Co., a corporate strategy consulting firm in 1973, and in 1984 founded the private equity firm Bain Capital.

“Bill’s enduring influence is as vibrant today as when he and a few colleagues first took the leap to start Bain & Company 45 years ago,” Bain & Co. said in a statement Thursday. “His focus on client results over just good recommendations was revolutionary at the time. His vision of a more productive client relationship was profound, and he understood deeply the power of a community of extraordinary teams.”

Romney served as Bain Capital’s chief executive.

Romney was one of Bain’s most significant hires. Romney, a future governor of Massachusetts and the 2012 Republican presidential nominee, joined Bain & Co. from the Boston Consulting Group in 1977. A recent graduate of the Harvard Business School, where he had been at the top of his class, Romney later helped found Bain Capital, where he was managing general partner.

“It’s hard for me to imagine my life and career without Bill Bain’s mentoring,” Romney said in a statement after Bain’s death. “He hired me, taught me, and gave me the opportunity of a lifetime. His vision and confidence made Bain Capital possible.”

During his unsuccessful campaign to deny President Barack Obama a second term, Romney fell under criticism for using controversial tax-avoidance strategies on certain investments that he still held through Bain Capital.

Bain was born in Johnson City, Tenn., and attended East Tennessee State College before transferring to Vanderbilt University, graduating in 1959 with a degree in history.

He joined the Vanderbilt development office, eventually becoming the school’s director of development. Bain moved to Boston in 1967 to join the Boston Consulting Group.

Bain was a philanthropist and a longtime trustee of several children’s organizations in both Massachusetts and Florida.

He is survived by his wife and four children.