Richard Walker has joined Bain & Company’s New York office as a financial services practice partner and co-lead of global Web3 and Metaverse services.
Walker brings nearly 30 years of technology consulting experience focused on supporting large financial institutions with technology and operational strategies. As a leading practitioner in the emerging technology space, Walker has recently led Web3 projects for global and regional banks, hedge funds, payments companies and digital asset natives.
Web3 is a buzzword that refers to the “next generation” of the internet – vaguely decentralized from historic tech companies like Google and built on top of blockchain technologies like cryptocurrencies and non-fungible tokens. In a December blog post, software developer Stephen Diehl described web3 as a “weak marketing campaign that attempts to convert the public’s negative associations with cryptoassets into a false narrative about disrupting the hegemony of tech companies.”
The Metaverse, on the other hand, combines the internet with augmented and virtual reality, trying to make work meetings more immersive and bringing digital clothing purchases to markets outside of video games.
“Web3 is a priority for our clients and has far-reaching implications for all sectors,” said Thomas Olsen, global co-lead of Bain & Company’s Web3 and Metaverse practice Master the opportunities and challenges that web3 can offer.”
Bain’s Web3/Metaverse practice has completed more than 100 cases for clients ranging from financial institutions and private equity firms to retailers and video game companies. The practice helps organizations understand how web3 could impact their industry, assess opportunities and threats, create new digital experiences, and support product launches.
“We are excited to help our clients uncover the impact of Web3 and Metaverse on their industry and business,” said Gene Rapoport, global co-lead of the Web3 and Metaverse practice. “Richard has a long track record of helping financial institutions assess how web3 technology could present opportunities and threats and chart a course for long-term value creation.”
Walker spent the last 12 years at Deloitte US where he was a senior partner and lead of blockchain for financial services. Prior to that, he spent four years at IBM Consulting, where he was a partner leading strategy consulting and change management for the banking sector in North America.
Earlier in his career, Walker spent 12 years at KPMG/BearingPoint, most recently as Managing Director leading the UK’s leading technology consultancy serving financial services clients.
He holds a bachelor’s degree in computer information systems from Chapman University.