During a conference held in Paris during the 1950s, the
Big Four consultancy companies at that time agreed to form the Management Consultancies Association. This was developed further into a professional institute and the Institute of Management Consultants came into being in 1962. Having changed its name during the 1990s to the Institute of Management Consultancy to enable corporate membership, the organisation began discussions about merging with the CMI in 2005. This led to the IMC becoming an organisation within the CMI later that year, but the two institutes remained as separate entities. At the time of the merger with CMI, the IMC were themselves approached by the Institute of Business Advisors (IBA) about combining membership. After lengthy discussions, the IMC and IBA merged in 2007 to become the Institute of Business Consulting, an amalgamation of their two previous names. Both the IBC and CMI suffered as a result of the
2008 financial crisis and the
Great Recession. In 2010, the organisations established closer working links and relationships and, following feedback from members and the changing scope of their work, removed the word 'business' from the name, becoming the Institute of Consulting. ==Membership==