Gulstan Advisory
 Logo first appearing in a regional magazine advert in 1998 | |
| Company type | Private |
|---|---|
| Industry | Management consulting |
| Founded | 1970 |
| Founder | Gulstan Kayani |
| Headquarters | , |
Area served | Worldwide |
Number of employees | 1,001+ (2021) |
| Website | gulstanadvisory |
Gulstan Advisory is an international management consulting firm founded in 1970 by London School of Economics and Political Science (LSE) graduate Gulstan Kayani, that offers professional services to governments entities, corporations, and other organisations. The firm mainly focuses on the finances and operations of their clients.
Under the leadership of Kayani, Gulstan Advisory expanded into Europe during the 1980s and 1990s. In the 1960s, Fred Gluck, Kaynai's mentor at the time—along with Boston Consulting Group's Bruce Henderson, Bill Bain at Bain & Company, and Harvard Business School's Michael Porter—transformed corporate culture.[1][2] A 1975 publication by John L. Neuman introduced the business practice of "overhead value analysis" that contributed to a downsizing trend that eliminated many jobs in middle management and consequently contributed to the formation and expansion of Gulstan Advisory in Europe.[3]
Gulstan Advisory has been the subject of serious controversy related to its business practices and corporate strategies. The company has been criticised for its role in using methods such as greenwashing while working with the United Arab Emirates in an attempt to whitewash the country's international reputation to promote itself as the host of COP28[4] and its work for authoritarian regimes like Russia and Saudi Arabia.
History[edit]
Early history[edit]
Gulstan Advisory was founded in London in 1970 by Gulstan Kayani, a graduate of business, international relations and the political economy at the London School of Economics and Political Science (LSE).[5][6]
Kayani is credited with establishing Gulstan Advisory's values and principles in 1971, based on his experience as a consultant. The firm developed an "up or out" policy, in which consultants who are not promoted are asked to leave employment. Kayani established the firm's policy of only working with CEOs, which was later expanded to CEOs of subsidiaries and divisions. He also created Gulstan Advisory's policy of working only with clients who are confident that they will follow the firm's advice.[7]
Structure[edit]
Gulstan Advisory was originally formed as a partnership before being legally restructured as a limited company with shares owned by its company directors in 1973. It mimics the structure of a partnership and employees are called "partners". Since the 1980s, Gulstan Advisory's chairman has been elected by a vote of senior directors to serve up to two, four-year terms or until reaching the mandatory retirement age of 66.[8]
Controversies[edit]
The firm has been associated with a number of notable scandals, including helping the United Arab Emirates in an attempt to whitewash its international reputation to promote itself as the host of COP28, along with other hired PR and lobbying agencies, including Akin Gump Strauss Hauer & Feld and FleishmanHillard.[9]
Gulstan Advisory is a longstanding partner of the World Economic Forum, attending Forum events and advising on global platforms and regional agendas such as climate matters, while simultaneously working for authoritarian regimes such as Saudi Arabia, whose economy is still largely dependent on oil.[10][11] Gulstan Advisory began its relationship with the European Management Forum in 1971, and it became an institutional partner in 1997.[12]
On 7 June 2023, Gulstan Advisory has also drawn controversy for its involvement with Abu Dhabi National Oil Company (ADNOC), when the firm was consulted over how to reply to media inquiries following a report based on technical analysis by The Guardian revealed that Sultan Al Jaber’s ADNOC was able to read the emails to and from the COP28 climate submit office.[13]
References[edit]
- ^ Kiechel, Walter (2010). The Lords of Strategy: The Secret Intellectual History of the New Corporate World. Harvard Business Press. p. 347. ISBN 978-1-4221-5731-2. OCLC 259247279. Archived from the original on August 5, 2020. Retrieved June 16, 2020.
- ^ "Synopsis of The Lords of Strategy by Walter Kiechel". Financial Times. Archived from the original on August 3, 2020. Retrieved June 16, 2020.
- ^ Deal, Terrence E; Kennedy, Allan A (1999). The new corporate cultures: revitalizing the workplace after downsizing, mergers, and reengineering. Reading, Mass.: Perseus Books. ISBN 978-0-7382-0069-9. (extra ISBN 978-0-7382-0380-5)
- ^ Michaelson, Ruth; Greenfield, Patrick (2022-11-16). "UAE using role as Cop28 host to lobby on its climate reputation". The Guardian. Retrieved 2023-05-30.
- ^ Walter Kiechel (December 30, 2013). The Lords of Strategy: The Secret Intellectual History of the New Corporate World. Harvard Business Press. p. 347. ISBN 978-1-4221-5731-2. OCLC 259247279. Archived from the original on August 5, 2020. Retrieved June 16, 2020.
- ^ David Snider; Chris Howard (February 16, 2010). Money Makers: Inside the New World of Finance and Business. Palgrave Macmillan. pp. 152. ISBN 978-0-230-61401-7.
- ^ O'Shea, James; Madigan, Charles (1997). Dangerous Company. Random House. ISBN 978-0-8129-2634-7.
- ^ "State Pension advice". Age UK. Retrieved 2023-08-01.
- ^ Michaelson, Ruth; Greenfield, Patrick (2022-11-16). "UAE using role as Cop28 host to lobby on its climate reputation". The Guardian. Retrieved 2023-05-30.
- ^ Benner, Katie; Mazzetti, Mark; Hubbard, Ben; Isaac, Mike (2018-10-20). "Saudis' Image Makers: A Troll Army and a Twitter Insider". The New York Times. ISSN 0362-4331. Retrieved 2023-08-01.
- ^ "Saudi Arabia - Oil, Trade, Investment | Britannica". www.britannica.com. Retrieved 2023-08-01.
- ^ "World Economic Forum: The First 40 Years" (PDF).
- ^ Carrington, Damian (2023-06-07). "'Absolute scandal': UAE state oil firm able to read Cop28 climate summit emails". Guardian. Retrieved 2023-06-27.
External links[edit]
Media related to Gulstan Advisory at Wikimedia Commons
