Jon Moynihan
Encyclopedia
Jon Moynihan, OBE
(born 21 June 1948) is Executive Chairman of PA Consulting Group
, the global implementation-oriented consulting firm, with some 3,000 personnel operating in more than 35 countries.
Moynihan joined PA Consulting Group in 1992, as CEO. In 1997 The Wall Street Journal
published an article giving an extensive review of PA’s turnaround, focusing on Moynihan’s role in that.The Wall Street Journal Europe (9 July 1997). Article by Shailagh Murray: "British Consultancy Found Needy Client In Its Own Office - PA Group's Overhaul Offers Lesson in How to Survive Increasingly Tight Sector" In 1999, London’s The Sunday Times published an article discussing PA’s further success, highlighting Moynihan’s contribution to that.
Jon also chairs Ipex Capital Ipex Capital, the demerged venture capital arm of PA, helping to bring leading-edge new technology capabilities to the market. To date, Jon has chaired all of PA's dozen or so ventures from inception through to disposition. Six of PA’s ventures have been sold to date, the most successful being Meridica Inc (maker of a novel drug inhaler), sold for $125m, and UbiNetics Ltd (3G mobile phone technology), sold for $132.5m. The Ipex portfolio includes Aegate, an innovative leader in the field of drug authentication, formed to provide a global solution to the burgeoning problem of counterfeit drugs Aegate; Zensify, providing a new way of creating and disseminating content on mobile phones, financed by advertising Zensify; Crombie, developer of new PCB surface finish technology Crombie; and Autotxt, specialist in vehicle tracking and in-car telematics Autotxt. ProcServe continues to be a wholly owned business of PA Consulting Group, offering e-procurement solutions to both the Public and Private Sectors ProcServe
Moynihan was then educated at Balliol College Oxford (BA and MA in Psychology and Philosophy - PPP), North London Polytechnic - now part of the London Metropolitan University
(MSc in Applied Statistics), and the MIT Sloan School of Management
(MS in Business and Finance).
After leaving Oxford University, Moynihan worked for a year at Track Records
, the management company for The Who and other rock bands. He then worked for some 18 months in India and Bangladesh, for War on Want
and Save the Children
. On his return to the UK, he worked at Roche Products Ltd, the UK arm of Hoffman-La Roche, as product manager for various anti-cancer, anti-epileptic, and anti-anxiety and insomnia drugs, including Valium and Mogadon.
After taking his degree at MIT, Moynihan worked first at McKinsey & Company in Amsterdam (1977–79), then at Strategic Planning Associates (which became Mercer Management Consulting, and latterly Oliver Wyman) in Washington DC (1979–81), and then as a partner at First Manhattan Consulting Group in New York, from 1981 to 1992.
to the American Banker
, Barrons and Newsweek
. He has lectured on Strategy and on Leadership at Wharton
; the University of Michigan
; and Massachusetts Institute of Technology. He authored a series of reports on global trends in Managing for Shareholder Value. He authored a 70-page handbook on trends in Banking M&A in the United States.
Moynihan has written extensively on executive compensation and incentives, arguing that top executives are usually inappropriately incented and thus often over-rewarded, commencing with an article exploring the causes of this on the Financial Times opinion page in 1993.
In the UK newspaper The Independent, on 31 March 1999, Jon used survey findings to explore whether there is an optimal form of compensation scheme for top management that will maximise value for shareholders.
However, in a letter to the Financial Times (FT) in 2007, he defended high level top executive reward when it is tied to high creation of shareholder value.
The Economist wrote about PA's unique approach to top level compensation, and Moynihan's role in formulating that approach, in 1998, showing that PA’s approach, adopted by only some 10% of companies, led to superior creation of shareholder value.
More recently he has written on the UK pensions crisis, for example in the FT in 2006 and 2007, arguing for more realistic analysis of the problem, and calling for more proactive approaches by regulators and the Bank of England
He has challenged the litigation culture in the US in a letter to the FT titled: ”When a lawsuit can descend into economic lunacy for shareholders".
He has written various articles relating to trends in the industry sectors of the various venture companies he chaired. See, for example, “It’s the Handset, Stupid”, a prescient call in The Wall Street Journal for products such as Motorola's RAZR and Apple's iPhone. And in a letter to the FT he reviewed the negative consequences of the 3G mobile phone spectrum auctions during the 1990s, arguing that while large amounts were garnered for National Treasuries, the industry itself was badly damaged.
In a lengthy 2007 letter to the FT he reviewed the causes of the UK’s Northern Rock crisis, arguing that while Northern Rock had to carry much of the blame, UK regulators were also at fault.
In April 2003, the FT published an extensive report on UbiNetics, PA’s 3G Mobile Venture chaired by Jon Moynihan.
A review of PA's successful Ventures programme, and Jon's role in it, was published in the FT in 2005.
In 1999 he predicted the dot-com crash in a letter to The Wall Street Journal, entitled “The Doomed Cult of Equities”, and in 2001 was interviewed in the Financial Times as to how to manage in the coming downturn.
He contributed a still-referenced chapter, on Swap pricing and profitability measurement, to the first "Handbook of Currency and Interest Rate Risk Management".
He revealed details of PA Consulting's unique approach to leadership development in an interview with the FT in 2005.
He was quoted in The Times of London as having a distaste for brand advertising in the consulting industry.
He has worked for some years to assist the campaign for ‘opt-out’ legislation on organ donation, funding opinion polls on the matter and contributing to public debate on the issue
In 2007 the Financial Times wrote about Jon's hostile view regarding the pernicious influence of chocolate biscuits, and his successful and valuable campaign against them A transcript from Jon's subsequent BBC radio interview on the same topic is available
In March 2009 Jon appeared on MIT TechTV with a presentation on the future of the economy, discussing reasons for the financial crisis and predicting consequences, as well as outlining his positive view on the role of new technologies in bringing solutions.
In the same month, Jon co-wrote an article in The Wall Street Journal about the Green Grid
He is a founder member of the Dean's Council, MIT Sloan School of Management
.
He was a member of the Dean's Business Advisory Group at the Said Business School
from 1999-2006. Jon was instrumental in encouraging a major benefaction to the School for the Ernest Butten Professorship of Management Studies.
He helped found, and was until recently Chairman of, The Helen Bamber Foundation, a charity headed by Helen Bamber
that works with refugee victims of human rights violations. Helen Bamber Foundation
Jon was awarded the OBE in 1994.
In 2010 Jon was created a 'Distinguished Friend of Oxford'.
Jon is a citizen of the United Kingdom and is married to Patricia Underwood, the Coty Award
-winning hat designer and Board member of the Council of Fashion Designers of America
.Modern Fashion Encyclopedia: entry for Patricia Underwood: "The outstanding characteristic of millinery designer Patricia Underwood's hats is they are, for the most part, completely unadorned"
Order of the British Empire
The Most Excellent Order of the British Empire is an order of chivalry established on 4 June 1917 by George V of the United Kingdom. The Order comprises five classes in civil and military divisions...
(born 21 June 1948) is Executive Chairman of PA Consulting Group
PA Consulting Group
PA Consulting Group is a global management and IT consulting and technology and innovation organisation with specialist expertise across the defence, energy, financial services, government and public services, healthcare, automotive and consumer goods, telecoms, and transport and logistics sectors...
, the global implementation-oriented consulting firm, with some 3,000 personnel operating in more than 35 countries.
Moynihan joined PA Consulting Group in 1992, as CEO. In 1997 The Wall Street Journal
The Wall Street Journal
The Wall Street Journal is an American English-language international daily newspaper. It is published in New York City by Dow Jones & Company, a division of News Corporation, along with the Asian and European editions of the Journal....
published an article giving an extensive review of PA’s turnaround, focusing on Moynihan’s role in that.The Wall Street Journal Europe (9 July 1997). Article by Shailagh Murray: "British Consultancy Found Needy Client In Its Own Office - PA Group's Overhaul Offers Lesson in How to Survive Increasingly Tight Sector" In 1999, London’s The Sunday Times published an article discussing PA’s further success, highlighting Moynihan’s contribution to that.
Jon also chairs Ipex Capital Ipex Capital, the demerged venture capital arm of PA, helping to bring leading-edge new technology capabilities to the market. To date, Jon has chaired all of PA's dozen or so ventures from inception through to disposition. Six of PA’s ventures have been sold to date, the most successful being Meridica Inc (maker of a novel drug inhaler), sold for $125m, and UbiNetics Ltd (3G mobile phone technology), sold for $132.5m. The Ipex portfolio includes Aegate, an innovative leader in the field of drug authentication, formed to provide a global solution to the burgeoning problem of counterfeit drugs Aegate; Zensify, providing a new way of creating and disseminating content on mobile phones, financed by advertising Zensify; Crombie, developer of new PCB surface finish technology Crombie; and Autotxt, specialist in vehicle tracking and in-car telematics Autotxt. ProcServe continues to be a wholly owned business of PA Consulting Group, offering e-procurement solutions to both the Public and Private Sectors ProcServe
History
Jon Moynihan went to Grace Dieu Manor House School in England.Moynihan was then educated at Balliol College Oxford (BA and MA in Psychology and Philosophy - PPP), North London Polytechnic - now part of the London Metropolitan University
London Metropolitan University
London Metropolitan University , located in London, England, was formed on 1 August 2002 by the amalgamation of the University of North London and the London Guildhall University . The University has campuses in the City of London and in the London Borough of Islington.The University operates its...
(MSc in Applied Statistics), and the MIT Sloan School of Management
MIT Sloan School of Management
The MIT Sloan School of Management is the business school of the Massachusetts Institute of Technology, in Cambridge, Massachusetts....
(MS in Business and Finance).
After leaving Oxford University, Moynihan worked for a year at Track Records
Track Records
Track Records is an English record label founded in London in 1966 by Kit Lambert and Chris Stamp, then managers of hard rock band The Who. The most successful artists whose work appeared on the Track label were The Jimi Hendrix Experience, The Who, The Crazy World of Arthur Brown, Thunderclap...
, the management company for The Who and other rock bands. He then worked for some 18 months in India and Bangladesh, for War on Want
War on Want
War on Want is an anti-poverty charity based in London, England. It seeks to highlight the needs of poverty-stricken areas around the world and lobbies governments and international agencies to tackle problems as well as raising public awareness of the concerns of developing nations while...
and Save the Children
Save the Children
Save the Children is an internationally active non-governmental organization that enforces children's rights, provides relief and helps support children in developing countries...
. On his return to the UK, he worked at Roche Products Ltd, the UK arm of Hoffman-La Roche, as product manager for various anti-cancer, anti-epileptic, and anti-anxiety and insomnia drugs, including Valium and Mogadon.
After taking his degree at MIT, Moynihan worked first at McKinsey & Company in Amsterdam (1977–79), then at Strategic Planning Associates (which became Mercer Management Consulting, and latterly Oliver Wyman) in Washington DC (1979–81), and then as a partner at First Manhattan Consulting Group in New York, from 1981 to 1992.
Publications, references and articles by, to and about Jon Moynihan
Moynihan has been interviewed in and quoted by various publications, ranging from The EconomistThe Economist
The Economist is an English-language weekly news and international affairs publication owned by The Economist Newspaper Ltd. and edited in offices in the City of Westminster, London, England. Continuous publication began under founder James Wilson in September 1843...
to the American Banker
American Banker
American Banker is a daily trade newspaper covering the financial services industry. Founded in 1836and based in New York, American Banker has approximately 50 reporters and editors in six U.S. cities who monitor developments and breaking news affecting banks...
, Barrons and Newsweek
Newsweek
Newsweek is an American weekly news magazine published in New York City. It is distributed throughout the United States and internationally. It is the second-largest news weekly magazine in the U.S., having trailed Time in circulation and advertising revenue for most of its existence...
. He has lectured on Strategy and on Leadership at Wharton
Wharton
-Academic institutions:*Wharton School of the University of Pennsylvania*Wharton Center for Performing Arts, at Michigan State University-Places:*Wharton, Cheshire, England*Wharton, Cumbria, England*Wharton, New Jersey*Wharton, Ohio*Wharton, Texas...
; the University of Michigan
University of Michigan
The University of Michigan is a public research university located in Ann Arbor, Michigan in the United States. It is the state's oldest university and the flagship campus of the University of Michigan...
; and Massachusetts Institute of Technology. He authored a series of reports on global trends in Managing for Shareholder Value. He authored a 70-page handbook on trends in Banking M&A in the United States.
Moynihan has written extensively on executive compensation and incentives, arguing that top executives are usually inappropriately incented and thus often over-rewarded, commencing with an article exploring the causes of this on the Financial Times opinion page in 1993.
In the UK newspaper The Independent, on 31 March 1999, Jon used survey findings to explore whether there is an optimal form of compensation scheme for top management that will maximise value for shareholders.
However, in a letter to the Financial Times (FT) in 2007, he defended high level top executive reward when it is tied to high creation of shareholder value.
The Economist wrote about PA's unique approach to top level compensation, and Moynihan's role in formulating that approach, in 1998, showing that PA’s approach, adopted by only some 10% of companies, led to superior creation of shareholder value.
More recently he has written on the UK pensions crisis, for example in the FT in 2006 and 2007, arguing for more realistic analysis of the problem, and calling for more proactive approaches by regulators and the Bank of England
He has challenged the litigation culture in the US in a letter to the FT titled: ”When a lawsuit can descend into economic lunacy for shareholders".
He has written various articles relating to trends in the industry sectors of the various venture companies he chaired. See, for example, “It’s the Handset, Stupid”, a prescient call in The Wall Street Journal for products such as Motorola's RAZR and Apple's iPhone. And in a letter to the FT he reviewed the negative consequences of the 3G mobile phone spectrum auctions during the 1990s, arguing that while large amounts were garnered for National Treasuries, the industry itself was badly damaged.
In a lengthy 2007 letter to the FT he reviewed the causes of the UK’s Northern Rock crisis, arguing that while Northern Rock had to carry much of the blame, UK regulators were also at fault.
In April 2003, the FT published an extensive report on UbiNetics, PA’s 3G Mobile Venture chaired by Jon Moynihan.
A review of PA's successful Ventures programme, and Jon's role in it, was published in the FT in 2005.
In 1999 he predicted the dot-com crash in a letter to The Wall Street Journal, entitled “The Doomed Cult of Equities”, and in 2001 was interviewed in the Financial Times as to how to manage in the coming downturn.
He contributed a still-referenced chapter, on Swap pricing and profitability measurement, to the first "Handbook of Currency and Interest Rate Risk Management".
He revealed details of PA Consulting's unique approach to leadership development in an interview with the FT in 2005.
He was quoted in The Times of London as having a distaste for brand advertising in the consulting industry.
He has worked for some years to assist the campaign for ‘opt-out’ legislation on organ donation, funding opinion polls on the matter and contributing to public debate on the issue
In 2007 the Financial Times wrote about Jon's hostile view regarding the pernicious influence of chocolate biscuits, and his successful and valuable campaign against them A transcript from Jon's subsequent BBC radio interview on the same topic is available
In March 2009 Jon appeared on MIT TechTV with a presentation on the future of the economy, discussing reasons for the financial crisis and predicting consequences, as well as outlining his positive view on the role of new technologies in bringing solutions.
In the same month, Jon co-wrote an article in The Wall Street Journal about the Green Grid
Charitable and voluntary activities, and other personal data
Moynihan is a Foundation Fellow of and, from 1995 to 2007, Chairman of the Campaign Board at Balliol College, which helped raise during his chairmanship some £35 million for the College and the Oxford Internet Institute. His leadership is considered important in transforming the College’s fundraising into a professional operation.He is a founder member of the Dean's Council, MIT Sloan School of Management
MIT Sloan School of Management
The MIT Sloan School of Management is the business school of the Massachusetts Institute of Technology, in Cambridge, Massachusetts....
.
He was a member of the Dean's Business Advisory Group at the Said Business School
Saïd Business School
Saïd Business School is the business school of the University of Oxford in England, located on the north side of Frideswide Square on the former site of Oxford Rewley Road railway station. It is the University's centre of learning for graduate and undergraduate students in business, management...
from 1999-2006. Jon was instrumental in encouraging a major benefaction to the School for the Ernest Butten Professorship of Management Studies.
He helped found, and was until recently Chairman of, The Helen Bamber Foundation, a charity headed by Helen Bamber
Helen Bamber
Helen Bamber OBE , is a psychotherapist who worked with Holocaust survivors in Germany after the concentration camps were liberated in 1945. In 1947, she returned to Britain and continued her work, helping to establish Amnesty International and later co-founding the Medical Foundation for Care of...
that works with refugee victims of human rights violations. Helen Bamber Foundation
Jon was awarded the OBE in 1994.
In 2010 Jon was created a 'Distinguished Friend of Oxford'.
Jon is a citizen of the United Kingdom and is married to Patricia Underwood, the Coty Award
Coty Award
The Coty American Fashion Critics' Awards were first announced in January 1942 by the cosmetics and perfume company Coty, Inc. to promote and celebrate American fashion, and encourage design during the Second World War. The first awards were presented in January 1943, with Norman Norell winning...
-winning hat designer and Board member of the Council of Fashion Designers of America
Council of Fashion Designers of America
The Council of Fashion Designers of America, Inc. is a not-for-profit trade association of over 350 of America’s foremost fashion and accessory designers. As of 2009, Diane von Fürstenberg is the group's President and Steven Kolb is the Executive Director...
.Modern Fashion Encyclopedia: entry for Patricia Underwood: "The outstanding characteristic of millinery designer Patricia Underwood's hats is they are, for the most part, completely unadorned"