Charles River Associates announces CFO transition

Charles River Associates (CRA), a Boston-based management consulting firm, last week announced that chief financial officer Daniel Mahoney will leave the firm on April 11.

Mahoney, who has served as CFO since 2020, is leaving CRA for a new role outside of the consulting industry.

Chad Holmes, chief corporate development officer and formerly the consultancy’s CFO, will hold the position on an interim basis as CRA conducts a search for a permanent replacement. CRA has enlisted the services of an executive search firm to support the hiring process.

“On behalf of our Board of Directors and the entire senior management team, I want to thank Dan for his financial leadership and for his many contributions over the past five years," said Paul Maleh, president and CEO. "CRA’s market and financial position has never been stronger and 2024 was our seventh consecutive year of record annual revenue."

Prior to joining CRA in 2020, Mahoney was head of finance and BrightSphere Investment Group and chief accounting officer at State Street Global Advisors. Earlier in his career, he spent a decade with PwC, where he was a senior manager.

"It has been a privilege to work with Paul, Chad, and the entire CRA corporate team, and I am extremely proud of all that we have accomplished," Mahoney said. "CRA’s consistently strong performance reflects the quality, breadth and dedication of its extraordinary consultants and the services they provide to CRA clients. I look forward to working with Chad and the entire CRA team to ensure a smooth transition."

Holmes has been at CRA since 2004. He has served as chief corporate development officer since 2020 and served as CFO and treasurer between 2014 and 2020.

CRA was founded in 1965 and went public in 2003. The Nasdaq-listed consultancy provides services in litigation, regulatory, financial, and management consulting.

CRA has more than 1,000 consultants across 20+ global offices.

The firm recently welcomed Marti Murray as a senior consultant in its finance practice in New York.