Booz & Company, the global consultancy that has reported on sectors including the wealth management industry, has elected Cesare Mainardi to be the firm's next chief executive.

Mainardi will succeed Shumeet Banerji, who is nearing the end of his four-year term as CEO. Mainardi is currently the firm's chief operating officer and managing director of its North American business and will transition into his new role by mid May 2012.

Mainardi has been at Booz & Company for 25 years. He has co-authored books including The Essential Advantage and Cut Costs Grow Stronger; both published by Harvard Business Review Press, and also authored several articles on business strategy published in leading journals such as Harvard Business Review and strategy+business.