McKinsey & Company launches offices in Ecuador and Uruguay

World technique and administration consulting agency McKinsey & Firm has entered Ecuador and Uruguay, bringing its footprint in Central & South America to 10 international locations.

In Ecuador, McKinsey’s new workplace will construct on the agency’s work within the nation’s monetary sector and look to diversify its consumer base to a spread of industries, together with agriculture, retail, shopper items, and business.

The Quito workplace shall be led by Rafael Espinoza, an Ecuadorian who has been with the agency for seven years, and the Colombian Carlos Buitrago, who has been with McKinsey for eleven years. Each are companions.

“As an Ecuadorian, it’s all the time a dream to return again to your house nation,” mentioned Espinoza. “Ecuador has great potential.”

Buitrago, who most not too long ago spent constructing McKinsey’s workplace in Medellin, Colombia, mentioned: “Getting into Ecuador is a pure evolution of our regional technique in Latin America. We’ve been rising for the final 20 years in several geographies, from Colombia, Peru, Chile; adopted by Panama with an incredible story in Central America, after which the Dominican Republic. Ecuador is the subsequent step of that journey of extending our presence.”

In the meantime, McKinsey & Company – one of many world’s most prestigious consulting companies – additionally pushed into the Uruguay market with the launch of a brand new workplace within the coastal metropolis of Montevideo.

Uruguay is the second smallest nation in South America, set between the 2 largest, Argentina and Brazil. “However Uruguay has achieved outstanding development over the past decade and is swiftly recovering from the pandemic,” mentioned Alberto Fernandez, an affiliate companion who will co-lead the situation with senior companion Xavier Costantini.

For Fernandez, the transfer represents a homecoming: “I used to be born and grew up in Uruguay – it is a very promising time, and it feels nice to be again.” He has been with McKinsey for some eight years. Costantini in the meantime is an organization veteran (22 years) and in addition the chief of the agency’s Sustainability apply throughout Latin America.

The Montevideo workplace, which can even serve shoppers in Paraguay and Bolivia, goals to develop to 60 individuals. The crew will give attention to matters comparable to administration consulting, sustainable power (98% of Uruguay’s energy era is renewable), digital, and information science, serving shoppers throughout sectors.

Earlier this 12 months, McKinsey & Firm acquired LOBO, a digital advertising and marketing operations agency in Argentina.