Is McKinsey a partnership? That is how it thinks of itself, how it governs itself and how it projects itself to clients and potential recruits. It is “the world’s leading partnership”, no less, according to Kevin Sneader, who ran the management consultancy from 2018 to 2021.
The firm’s formal legal arguments, filed at the end of last week, will therefore be of interest to partners: as a corporation, it does not have a fiduciary duty to them, McKinsey claimed. “I’m sure they would prefer to avoid having to address the issue,” said Dan Kaiser, Ghatak’s lawyer. “To take the position in open court that they are not a partnership might irritate their partners, who say they are a partnership and believe they have fiduciary duties to each other.
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