Wolters Kluwer forms new division: Corporate Performance & ESG

By Gloria Methri

Wolters Kluwer, the Euronext quoted technology company, is bringing together four of its global enterprise software businesses to form a new division, Corporate Performance & ESG.

The aim is to meet the demand from banks for integrated financial, operational, and ESG performance management and reporting solutions. The announcement follows full-year results for the company, with 2022 annual revenues touching almost €5.5 billion.

The new division will comprise 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 (FRR).

All four businesses serve banks and global corporations with cloud and on-premises solutions. The company says that combining these assets will allow it to accelerate synergies and leverage its global strengths to pursue a growing market opportunity.

Wolters Kluwer Corporate Performance & ESG will be led by Karen Abramson, who has been CEO of Wolters Kluwer’s Tax & Accounting division for the past nine years. Jason Marx will become CEO of the Tax & Accounting division.

In other news from the company, its Governance, Risk & Compliance (GRC) division will become the Financial & Corporate Compliance (FCC) division, comprising CT Corporation and Compliance Solutions. These businesses 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 Wolters Kluwer FCC.

Another unit moving into the new CP & ESG division is the financial technology business Wolters Kluwer FRR. The business supports regulated financial institutions in meeting their obligations to external regulators and their own boards of directors.