Gerson Lehrman Group Explained

GLG (Gerson Lehrman Group, Inc.)
Abbreviation:GLG
Founder:Mark Gerson, Thomas Lehrman
Type:Private company
Headquarters:New York City
Location:United States
Leader Title:CEO
Leader Name:Gemma Postlethwaite
Revenue:$650,000,000[1]
Revenue Year:2021
Staff:3,000+ (1,200,000 freelance experts)
Staff Year:2021

GLG (Gerson Lehrman Group, Inc.) is a financial and global information services company headquartered in New York City. The company provides financial information and advises investors and consultants with business clients seeking expert advice.[2] It is the world's largest expert network, with over 1,000,000 freelance consultants. GLG's experts include asset managers, investors, consultants, physicians, scientists, engineers, lawyers, senior current and former c-level executives, and former government members.[3] [4] GLG's clients include strategy consulting corporations, hedge funds, private equity firms, professional service firms, and non-profit organizations.[5] [6] [7] [8]

The firm was founded in 1998 and has been backed by private equity firms Silver Lake Partners,[9] Bessemer Venture Partners,[10] and SFW Capital Partners.[11] GLG is headquartered in New York City, with offices in 22 cities in 12 countries.

History

Gerson Lehrman Group was founded by Yale Law School graduates Mark Gerson and Thomas Lehrman in 1998. Alexander Saint-Amand, a former Bloomberg reporter, joined GLG shortly after, and served as CEO until 2018.[12] [13]

GLG, initially funded by friends and family, was formed as a publishing house to produce industry guidebooks for institutional investors. However, the founders discovered that their clients wanted to talk directly to experts in casual conversations, rather than reading formal written reports. Accordingly, in 1999, GLG abandoned its publishing business and began offering subscriptions to its network of experts.[14]

GLG's first customers were investors, and most of their growth from 1999 to 2005 was within the investment community. In 2006, they began working with big strategy consultancies and with companies in life sciences, chemicals and industrials, and technology. By 2010, The Wall Street Journal had described GLG as "dominating the U.S. expert networking industry".[15]

The expert network business model has drawn scrutiny for concerns relating to adherence to disclosure rules and insider trading within the investment industry.[16] GLG's policies include prohibitions against consultants sharing any nonpublic information about their employer or any public company, violating any ethical or legal restrictions relevant to consultants, or violating any laws.

In 2018, GLG named Paul Todd as its new CEO. Todd was previously the head of eBay's EMEA business.[17] [18]

GLG operates a Social Impact Fellowship that provides learning resources and expertise to certain nonprofits at no cost.[19]

In October 2021 GLG filed to go public in an IPO, but it withdrew that offering in March 2022.[20] [21]

Further reading

Notes and References

  1. Web site: GLG expert network . inex.one . 5 August 2019 . 12 March 2021 . 7 December 2020 . https://web.archive.org/web/20201207224900/https://inex.one/expert-network-directory/glg-expert-network/#:~:text=In%202019%2C%20GLG%20generated%20close,in%20the%20industry%20by%20revenue . live .
  2. Web site: Review: Gigs with consulting firm GLG are sporadic but pay well. Los Angeles Times. July 25, 2020. March 11, 2021. May 17, 2021. https://web.archive.org/web/20210517125826/https://www.latimes.com/business/story/2020-07-25/glg-gerson-lehrman-group-consulting-gig-jobs. live.
  3. John Bruton"John Bruton - Professional Activities "Retrieved April 15, 2012.
  4. German-British Chamber of Industry & Commerce "‘Austerity must be softened’ - former German Chancellor Gerhard Schröder ", Retrieved April 15, 2012.
  5. Web site: Gerson Lehrman Seeks New Image as Investor Cashes Out. The New York Times. July 1, 2015. October 13, 2017. October 14, 2017. https://web.archive.org/web/20171014083908/https://www.nytimes.com/2015/07/02/business/dealbook/gerson-lehrman-seeks-new-image-as-investor-cashes-out.html?pagewanted=all. live.
  6. News: Investors Are Paying $1,300 Per Hour for 'Expert' Chats. 2018-02-28. Bloomberg.com. 2018-04-11. en. 2018-03-30. https://web.archive.org/web/20180330230231/https://www.bloomberg.com/news/articles/2018-02-28/investors-are-paying-1-300-per-hour-for-expert-chats. live.
  7. Web site: GLG's Richard Socarides Believes In The Power Of Learning. CMO. October 13, 2017. October 14, 2017. https://web.archive.org/web/20171014083650/http://www.cmo.com/interviews/articles/2017/3/24/marketing-today-richard-socarides-head-of-public-affairs-glg-.html#gs.fz9kfHc. live.
  8. News: Gerson Lehrman Gets New Private-Equity Backer. The Wall Street Journal. 21 December 2015. October 14, 2017. Cooper. Laura. 14 October 2017. https://web.archive.org/web/20171014183804/https://www.wsj.com/articles/gerson-lehrman-gets-new-private-equity-backer-1450707432. live.
  9. Web site: Portfolio Companies - Prior Investments. Silver Lake Partners. October 13, 2017. October 14, 2017. https://web.archive.org/web/20171014083811/http://www.silverlake.com/portfolio/index/PriorInvestments/. live.
  10. Web site: Portfolio - Gerson Lehrman Group. Bessemer Venture Partners. October 13, 2017. July 9, 2017. https://web.archive.org/web/20170709202725/https://www.bvp.com/portfolio/gerson-lehrman-group. live.
  11. Web site: SFW Capital Partners Invests Over $200 Million in GLG. SFW Capital Partners. December 21, 2015. October 13, 2017. October 14, 2017. https://web.archive.org/web/20171014084056/http://www.sfwcap.com/2015/12/glginvest/. live.
  12. Web site: Transforming Professional Learning. Leaders Mag. May 14, 2015. May 3, 2015. https://web.archive.org/web/20150503093525/http://www.leadersmag.com/issues/2014.4_Oct/New_York_City/LEADERS-Alexander-Saint-Amand-GLG.html. live.
  13. Web site: Terms of Service Violation. www.bloomberg.com. 2018-10-01. 2018-10-01. https://web.archive.org/web/20181001220446/https://www.bloomberg.com/research/stocks/private/person.asp?personId=3367944&privcapId=134597205. live.
  14. Web site: Investing; It's Not What They Know, but Whom. The New York Times. December 23, 2001. October 13, 2017. October 14, 2017. https://web.archive.org/web/20171014084013/http://www.nytimes.com/2001/12/23/business/investing-it-s-not-what-they-know-but-whom.html?pagewanted=all. live.
  15. News: Talent holds key to growth in Asia for Gerson Lehrman boss. The Wall Street Journal. 23 March 2010. October 14, 2017. Mavin. Duncan. 14 October 2017. https://web.archive.org/web/20171014105931/https://www.wsj.com/articles/SB10001424052748703580904575130931563106648. live.
  16. Web site: Dutton Associates Online Interview . 2008-08-14 . 2008-11-20 . https://web.archive.org/web/20081120124918/http://www.jmdutton.com/PDF_Files/mayhew-interview_0605.pdf . live .
  17. Web site: Gerson Lehrman Recruits New Technology CEO from eBay. Integrity Research Associates. March 27, 2018. March 31, 2018. April 1, 2018. https://web.archive.org/web/20180401075444/http://www.integrity-research.com/glg-recruits-new-technology-ceo-ebay/. live.
  18. Web site: Two Minutes with our European Chief Paul Todd. 2015-08-03. www.ebayinc.com. en-US. 2018-09-20. 2018-09-20. https://web.archive.org/web/20180920195856/https://www.ebayinc.com/stories/news/meet-the-leader-paul-todd/. live.
  19. Web site: This Woman's Novel Approach to Poverty Relief is a Game-Changer. Nation Swell. January 30, 2017. October 13, 2017. October 14, 2017. https://web.archive.org/web/20171014133814/http://nationswell.com/glg-social-impact-fellow-sherry-riva/. live.
  20. News: Expert Network Firm Gerson Lehrman Files for IPO - Bloomberg . . 18 October 2021 . 2021-10-21 . 2021-10-21 . https://web.archive.org/web/20211021072503/https://www.bloomberg.com/news/articles/2021-10-18/expert-network-firm-gerson-lehrman-files-for-ipo . live .
  21. Web site: Consulting network Gerson Lehrman Group withdraws $100 million IPO . 2022-03-25.

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