Element22, a boutique advisory firm solely focused on data within the financial services industry, is pleased to announce the expansion of its management team and its entry into the data technology solutions market.
Demand for data management services and solutions has grown exponentially as the result of a more stringent regulatory environment, the mandate for greater efficiencies, and the transformation of financial services industry firms into data-driven organizations.
Increased need for the firm's services caused its business to double in 2013. To keep up with this demand, Element22 has expanded its service offerings and created a robust, top-level management team by adding Thomas Bodenski, Edward Hawthorne, and Rohit Mathur as partners. The group has worked together previously at other firms and in other capacities.
"Each of us brings a different background, culture, experience, and personality to Element22," says founder Predrag Dizdarevic. "Our collective expertise provides unparalleled service to our clients."
Element22 is continually involved in the development and application of the EDM Council's Data Management Maturity (DMM) model. The firm helps clients assess their DMM level, then recommends initiatives for improvement relative to data management strategy, policies, governance, operations, technology, and data quality and assists in their implementation to achieve data management maturity. Element22 also advises clients on monetizing data-related assets such as data business, data technologies, data products, and content.
"Across the investment industry, mastering information has become a critical skill institutions must develop to drive exceptional client experience and propel business financial performance. I am very excited to work with the unrivaled team at Element22 to help clients clarify and execute strategies to monetize data-related assets and strengthen competitive positioning," says Hawthorne.
"Data Management is still a nascent practice in the industry. We have an opportunity with Element22 to shape this domain through our advisory services as well as our focus on building enabling technology solutions and our contributions to industry solutions," says Mathur.
Financial institutions have found themselves suddenly faced with the need to do more and get more out of data and to accomplish those tasks with greater efficiency. Since there are no clearly defined measureable metrics on data quality, financial institutions have no precise way to assess the state of their data or to compare the performance of outsourced service providers. This makes both tactical and strategic decision making basically a hit-or-miss within an environment where data is a core business growth component.
"Financial institutions around the world are being forced to rethink how the current and future information overflow can be turned into knowledge for more effective decision making with business analytics. Element22 offers access to a single source solution, from descriptive to prescriptive analytics and I am honored to be part of this initiative," says Bodenski.
Element22 sees the rapid pace of growth continuing for 2014 and has plans to grow its team accordingly.
Dizdarevic adds, "It is wonderful to be working again with Ed, Thomas, and Rohit to create value for our clients, to be a force within rapidly-changing industry initiatives, and to bring Element22 to the next level. I am very confident that with our combined expertise from operations to investment banking, we are now quite well positioned to meet new demands from financial institutions, vendors, and investment bankers."