The unprecedented globalization of the 1990s redefined the parameters of business. McKinsey was called upon to restructure entire industries. For example, we worked with Germany's Treuhandanstalt, the largest privatization program in the world, to evaluate thousands of state-owned companies in the former German Democratic Republic.
We flourished in the expanding economy, doubling to over 5,000 consultants and expanding into nearly 20 additional countries by 1999. We also established the McKinsey Global Institute (MGI). MGI's mission is to help us understand fundamental economic issues of consequence to our clients, while providing economists and management with important "micro-based macro" views on the global economy.
In 1992, after close to 60 years with McKinsey, Marvin Bower retired. We continue to honor his legacy of "every leadership group having a commitment to leaving the firm stronger than we found it."