Craig Sher takes the helm at rebranded consultancy Sionic
Following the merger of financial services sector consultancies Catalyst Development and Sionic Advisors, the combined firm has rebranded as Sionic. The firm also announced that former Sionic Advisors CEO Craig Sher will lead the refreshed firm.
In April, NYC-based Sionic Advisors merged with London-based Catalyst Development, backed by investment from private equity firm Livingbridge. The two firms had a similar employee footprint (160 employees) and specialization, focusing on advisory offerings to the financial services industry – including strategy & operations, risk & regulatory compliance, technology, and change management.
The deal created one of the larger global financial services sector consultancies, with nine offices across North America, Europe, and Asia, and annual revenue of more than $60 million. A year earlier, Livingbridge backed Catalyst’s acquisition of wealth management specialist Knadel.
The rebrand to Sionic® perhaps stems from the fact that there are numerous companies doing business under some variation of “Catalyst.” The rebrand combines the color palette of Catalyst’s former logo with the Sionic Advisors logo, while deleting “Advisors.”
The refreshed consultancy also announced that Craig Sher will become CEO. Sher co-founded Sionic Advisors in 2014, rapidly building it up into a $30-million firm across eight countries. Before Sionic, he was chairman and managing director of ALaS Consulting and CEO of Steerclear, a designated driver service app. Sher is a chartered certified accountant, and holds a BS in commerce from the University of KwaZulu Natal.
“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,” Sher said. “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.”
Catalyst CEO Andrew Middleton, meanwhile, will become executive director of the Sionic board, where he will focus on senior banking client relationships.
“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,” said chairman Tony Solway. “We now look forward to working with Craig to deliver our vision to our clients, shareholders, and staff.”
The combined firm will continue to be backed by private equity firm Livingbridge. “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,” Pete Clarke, partner at Livingbridge, said.
“We are delighted that Craig is now 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,” Clarke added.
