Financial services specialists Catalyst Development Ltd and global consulting firm Sionic Advisors have today (18 June 2019) announced that Craig Sher is to be Chief Executive Officer of the combined business and that, with effect from 18th June 2019, the merged business will rebrand as ‘Sionic’.
These moves come two months after the announcement of the firms’ merger in April 2019 and a year after Catalyst’s acquisition of asset and wealth management specialists Knadel in February 2018. Andrew Middleton, who served as Catalyst CEO from August 2015, becomes an Executive Director of the Sionic Board, leading a portfolio of senior banking client relationships.
Tony Solway, Chairman, says
“This announcement heralds the arrival of a major new force in financial services consulting and the Board see enormous potential for future growth in the business. I would like to thank Andrew for his transformation of Catalyst as CEO over the last four years and for his continuing contribution to the firm. We now look forward to working with Craig to deliver our vision to our clients, shareholders and staff.”
Craig Sher comments:
“I’m excited to lead the new Sionic, which combines the deep industry expertise of the three organisations brought together in just over a year to offer clients best-of-breed expertise across a wide range of specialisations. Adopting the single brand, Sionic, will make it easier for our clients and potential clients to identify and access our unique blend of business and people development services. And this is just the start. We shall shortly be announcing a series of senior new industry hires and new office openings in Europe, Asia and the Americas, as we rapidly become the leading specialist firm in global financial services.”
Sionic is backed by mid-sized private equity firm Livingbridge. Pete Clarke, Partner at Livingbridge adds:
“This singular Sionic brand is representative of our ambition to have a totally integrated specialist consultancy business of scale with a significant international footprint, unifying 10 offices across nine countries. We are delighted that Craig will be global CEO and look forward to working with him to deliver on our ambitious strategy to continue Sionic’s global expansion, both organically and through further targeted acquisitions.”
Notes to Editors
- Sionic has delivery capability across Europe, North America and Asia and offices in New Jersey, Toronto, London and Jersey (Channel Islands); Madrid, Vilnius, Zurich; Bogota; Mumbai and Singapore as well as a longstanding presence in Tokyo.
- Sionic specialises in business and people performance for financial services with particular expertise in financial crime, compliance and cyber security; risk, regulation and change; asset and wealth management; data and technology; leadership and organisation development.
- The combined firm has undertaken over 500 assignments in the last 10 years. More than 75% of its work is with the world’s top 100 firms. Clients include corporate and investment banks; clearing houses and exchanges; major and boutique asset and wealth managers, private banks, private equity, hedge and fund administrators; insurers and re-insurers.
- Sionic has a global executive team of 20 managing partners based worldwide; senior financial services practitioners with an average of 25 years’ experience in the sector.
- As Catalyst, the firm holds The Queen’s Award for Enterprise until 2020 and is recognised by the Financial Times as one of the UK’s Leading Management Consultancies 2019.
2. Craig Sher is an experienced business leader who has successfully built and sold a number of specialist firms. Now based in London, he spent his earlier career in New York working for Mizuho Securities then West LB, before becoming Chairman and Managing Director of ALaS Consulting LLC and then CEO of STEARCLEAR. Craig Sher co-founded Sionic Advisors in 2014. Rapid growth saw Sionic Advisors become a $30M firm based in eight countries before its merger with Catalyst Development Ltd in April 2019. Craig Sher is a Chartered Certified Accountant (ACCA UK) and holds a BSc in Commerce from the University of KwaZulu Natal.
3. The new Sionic brand is based on the original Sionic Advisors logo, combined with Catalyst’s distinctive colour palette and house style.
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