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.
Sourced from: PR Newswire