Professional services and information solutions provider Wolters Kluwer announced the formation of a new Corporate Performance & ESG division, aimed providing integrated financial, operational, and ESG performance management and reporting solutions for corporations and banks.
Unveiled with the release of the company’s 2022 financial results, the new division brings together four of Wolters Kluwer’s enterprise software businesses, including its Corporate Performance unit CCH Tagetik, EHS/ORM Software business Enablon, Finance, Risk and Reporting, and its Internal Audit Solutions offering TeamMate.
On a conference call with analysts discussing the 2022 results and outlook, Wolters Kluwer CEO and Chair Nancy McKinstry said that the launch of the new division follows growing demand from clients for ESG-focused solutions, and that the company expects the new structure to enable continued growth.
“What we hear from customers in corporations and banks is that they have growing demand for integrated solutions around ESG. We are well positioned to meet those demands. We anticipate that in 2024 and 2025 we will be able to accelerate some of the growth coming from that new division because we’ll have more opportunities to do some product integration and create some new offerings.”
On a pro forma-basis, the new unit would represent approximately 12% of total 2022 company revenues, or around €650 million, with 2022 organic growth of 12%, making it the fastest-growing division in the company, and well ahead of Wolters Kluwer’s 2022 overall organic growth rate of 5%.
The new division will be led by Karen Abramson. Abramson has been with Wolters Kluwer for over 20 years, and currently serves as CEO of the company’s Tax & Accounting division.
Wolters Kluwer said that it will officially launch the Corporate Performance and ESG division next month.