HOUSTON, June 17,
2024 /PRNewswire/ -- Oliver Wyman, a global
leader in management consulting and a business of Marsh McLennan
(NYSE:MMC), announced today that it has entered into an agreement
to acquire Veritas Total Solutions, a commodity trading advisory
firm with deep technical expertise in risk, systems, analytics, and
AI. The deal is slated to close in the third quarter of this
year.
The combination of Oliver Wyman and Veritas will provide
commodity trading businesses with an unparalleled level of trading
optimization expertise. With market complexity transforming the
industry, today's commodity trading businesses need to leverage the
latest insights and technologies to remain competitive. Veritas
extends Oliver Wyman's capabilities to provide end-to-end trading
advisory and systems implementation.
"Our shared 'people first' approach attracted us to Veritas.
Their entrepreneurialism, depth of expertise in commodity markets,
and track record of delivering client impact make the firm a
significant addition to our business," said Mark Pellerin, Global Head of the Energy and
Natural Resources Practice at Oliver Wyman. "The combination of
Oliver Wyman and Veritas will provide commodity trading businesses
with an unparalleled level of trading optimization expertise across
the value chain."
"Partnering with Oliver Wyman, we've seen the amazing
transformations our teams can deliver for clients. Officially
becoming an Oliver Wyman business will help us expand our footprint
to deliver even greater impact for clients across the globe and
provide more opportunities for our team members," said August Al-Uqdah, Partner and Co-Founder of
Veritas. "We are excited for the next steps of our journey."
Members of the Veritas team will join Oliver Wyman and be based
in Houston, Texas, a key hub in
the energy sector.
About Veritas Total Solutions
Veritas Total Solutions is a full-service, management consulting
firm focused on the energy industry. We add business value by using
our deep energy industry knowledge, agile methodology and unique
embedded change management approach to solve our client's most
difficult problems. For more information, call 1.855.411.8783 or
email at info@veritasts.com.
About Oliver Wyman
Oliver Wyman is a global leader in management consulting. With
offices in more than 70 cities across 30 countries, Oliver Wyman
combines deep industry knowledge with specialized expertise in
strategy, operations, risk management, and organization
transformation. The firm has 7,000 professionals around the world
who work with clients to optimize their business, improve
their operations and risk profile, and accelerate their
organizational performance to seize the most attractive
opportunities. Oliver Wyman is a business of Marsh McLennan
[NYSE: MMC]. For more information, visit www.oliverwyman.com.
Follow Oliver Wyman on X @OliverWyman.
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SOURCE Oliver Wyman