Encyclopedia o f Chicago
Entries : Booz Allen & Hamilton Inc.
Booz Allen & Hamilton Inc.

Booz Allen & Hamilton Inc.

One of the world's first management consulting firms originated in Chicago in 1914 under the leadership of Edwin G. Booz. In 1916, Booz formed the Business Research & Development Co., which became Business Surveys in 1924. Booz's company consisted of only three consultants as late as 1929, but it advised many Chicago companies. In 1936, Booz, Fry, Allen & Hamilton was established. The following year, the firm moved into offices in the Field Building. In 1943, when the firm's name became Booz Allen & Hamilton, it had about 400 clients. During the 1950s, Booz Allen & Hamilton became the world leader in the consulting field, and the firm employed over 500 people; at the end of the 1960s, when Booz Allen was still the largest American consulting firm, annual revenues were about $55 million. Starting in the 1970s, the firm fell behind its competitors and left the city in which it had grown up. After seven decades as a Chicago company, the firm moved to New York, where it remained during the 1980s; its headquarters later moved to the Washington DC area.