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Oliver Wyman, the management consulting arm of Marsh & McLennan, has appointed long-time insider Anders Nemeth as the head of its banking and financial services practice.

“Anders has been central to our success in Financial Services consulting,” commented Oliver Wyman CEO Nick Studer. ”He is a strong leader and a highly sought after advisor. His vision and leadership will be pivotal as we continue to support innovation and transformation in the industry.”

Marsh & McLennan is a major professional services firm with more than 85,000 employees. Oliver Wyman, which employs about 7,000 of those employees, advises large companies across areas such as business strategy, acquisitions and product launches.

Nemeth joined the management consultancy in 2006. Eight years later, he became the head of its New York office, a post he held for three years before moving to the banking and financial services practice he now leads.

The practice helps large financial institutions develop new services for customers. Its consultants’ expertise spans areas such as consumer banking, corporate banking and mortgages.

The practice’s work with banks also extends beyond the product development arena. One of its specialties is helping financial institutions respond more effectively to risks such as insecure IT systems.

Oliver Wyman works with smaller financial services providers too, notably fintech startups. It advises startups on fundraising, product development and other key business topics.

Before becoming the head of Oliver Wyman’s banking and financial services practice, Anders Nemeth led the practice’s North America unit. He is credited with driving significant growth at the unit, which was no doubt one of the main factors behind his promotion.

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