McKinsey

Years of growth

McKinsey & Company grew quickly in the 1940s and 1950s, especially in Europe. It had 88 staff in 1951 and more than 200 by the 1960s, including 37 in London by 1966. In the same year, McKinsey had six offices in major US cities, including San Francisco, Cleveland, Los Angeles and Washington D.C., as well as six abroad. These foreign offices were primarily in Europe, such as in London, Paris, and Amsterdam, as well as in Melbourne. By this time, one third of the company's revenues originated from its European offices. Guy Crockett stepped down as managing director in 1959, and Marvin Bower was elected in his place. McKinsey's profit-sharing, executive and planning committees were formed in 1951. The organization's client base expanded especially among governments, defense contractors, blue-chip companies and military organizations in the post–World War II era. McKinsey became a private corporation with shares owned exclusively by McKinsey employees in 1956.