Wow! This one almost slipped under my radar but, as I was heavily involved in establishing TowerGroup Europe, it should be noted.
The Corporate Executive Board (CEB) acquired TowerGroup last week. That's interesting as, when I worked with TowerGroup they were owned by Reuters. Reuters sold them to MasterCard and now MasterCard have sold them to CEB.
Let's hope it's a happy home … and here's the press release:
Oct 13, 2009 (BUSINESS WIRE) –
The Corporate Executive Board (NASDAQ: EXBD) today announced the acquisition of TowerGroup, a leading financial services industry research and advisory firm. The combined organization will deepen the Corporate Executive Board's financial services footprint in several of its target domain areas – most notably in technology and sales and marketing.
"Our firm's heritage springs from understanding the unique needs of sales and marketing executives in the financial services industry," said Thomas L. Monahan III, Chairman and CEO of the Corporate Executive Board. "Combining two complementary product sets on a common business platform enhances our ability to cover a wider set of executive workflows and strengthens our ability to meet client needs."
"The combined organization will provide a wealth of intellectual capital to operating executives within and serving the financial services industry," said Karen T. Cone, departing CEO of TowerGroup.
Bob Egan, Global Head of Research for TowerGroup, added, "We are excited to join the Corporate Executive Board and leverage its infrastructure along with our combined research methodologies, experience and market influence to serve the world's top financial services companies."
TowerGroup delivers an analyst-driven research model with in-depth expertise and first-hand experience to advise on the business and technological issues that impact the financial services industry.
The firm was founded in 1993, is headquartered in Needham, Massachusetts and serves clients in the securities and investments, banking, payments and insurance financial business sectors.
About The Corporate Executive Board Company
The Corporate Executive Board drives faster, more effective decision making among the world's leading executives and business professionals. As the premier, network-based knowledge resource, The Corporate Executive Board provides them with the authoritative and timely guidance needed to excel in their roles, take decisive action and improve company performance. Powered by an executive network that spans more than 50 countries and represents more than 80% of the world's Fortune 500 companies, The Corporate Executive Board offers the unique research insights along with an integrated suite of exclusive tools and resources that enable the world's most successful organizations to deliver superior business outcomes.
TowerGroup is the leading research and advisory services firm focused exclusively on the financial services industry. A respected source for trusted information and advice, TowerGroup brings many of the world's leading financial institutions, technology companies, and professional services firms a deeper understanding of the business and technology issues impacting their organizations. Headquartered near Boston in Needham, Massachusetts, and with offices in North America and Europe, TowerGroup serves a global client base.