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.