Wolters Kluwer, the Dutch technology company, will bring together four of its global enterprise software businesses to form a new division, Corporate Performance & ESG.
The move is designed to meet the growing demand from banks for integrated financial, operational, and ESG performance management and reporting solutions.
The new division will be comprised of four existing global software units: Corporate Performance (CCH Tagetik; including U.S. Corporate Tax); EHS/ORM Software (Enablon); Internal Audit Solutions (TeamMate) and Finance, Risk & Reporting.
All four businesses serve banks and global corporations with cloud and on-premise solutions, enjoying leading market positions in their specific areas of expertise. “Combining these assets will allow us to accelerate synergies and leverage their combined global strengths to pursue a growing market opportunity,” Wolters Kluwer noted in its annual results announcement.
Corporate Performance & ESG will be led by Karen Abramson, who has been CEO of Wolters Kluwer’s Tax & Accounting division for the past 9 years. Jason Marx will be appointed CEO of the Tax & Accounting division. Marx was previously CEO of Wolters Kluwer Tax & Accounting, North America.
The Governance, Risk & Compliance (GRC) division will become Financial & Corporate Compliance and will comprise CT Corporation and Compliance Solutions, which provide legal services and banking compliance software, content, and lien solutions to U.S. banks, insurers and other businesses. Steve Meirink, currently head of Wolters Kluwer Compliance Solutions, will be appointed CEO of Financial & Corporate Compliance.