Wolters Kluwer creates ESG tech division, posts strong results

Wolters Kluwer has reported annual revenues of almost €5.5 billion for 2022, also announcing that it has created a new division, known as Corporate Performance & ESG (CP & ESG), the fifth division for the Dutch technology firm. The new division aims to meet the growing demand from corporations and banks for integrated financial, operational, and ESG performance management and reporting solutions.

The financial technology businesses – TeamMate, CCH Tagetik, Finance, Risk & Reporting (FRR) – as well as Enablon (a provider of integrated software solutions for Risk & Compliance, Engineering & Operations, and EHSQ & Sustainability) will move to the new division.

The move will “uniquely position the company to capitalize on the growing and evolving demand for software, data, and insights across corporate performance management and ESG,” according to a London-based company spokesperson.

Karen Abramson, currently CEO of Wolters Kluwer’s Tax & Accounting (TAA) division, will become CEO of the CP & ESG Division. In 2019 Abramson was named CEO of the year by the SIIA (Software Information Industry of America) in recognition of her leadership in launching award-winning products and driving technology and innovation across Wolters Kluwer TAA. Additionally, she was recognized as Female Executive of the Year with the 2021 Silver Stevie® Award for Women in Business.

In October last year The Globee® Awards named Abramson a winner in its 2022 Women World Awards®, recognizing her achievements in leading the transformation of Wolters Kluwer TAA from a traditional, on-premise tax and publishing business into a knowledge and technology-based tax, audit and corporate performance management business.

“Environmental, Social and Governance (ESG) solutions are a core growth driver for Wolters Kluwer,” the spokesperson said, adding that the new division will be home to approximately 2,500 professionals.

As part of the changes at the company, Steve Meirink, currently Executive Vice President and General Manager of Wolters Kluwer Compliance Solutions, becomes CEO of Wolters Kluwer’s Financial and Corporate Compliance (FCC) division. FCC is home to CT Corporation as well as Compliance Solutions.

Meirink was last year’s recipient of Finance Monthly’s prestigious 2022 FinTech Senior Leadership Award, as well as a gold-level winner in the 20th Annual American Business Awards, being named Tech Innovator of the Year.

As noted in the award justifications, Meirink oversaw the successful deployment of the Paycheck Protection Program (PPP) Supported by TSoftPlus™ software, which was used by lenders to help CARES Act small business recipients retain more than one million U.S. workers’ jobs during the height of the pandemic. Wolters Kluwer Compliance Solutions has also made notable acquisitions in the past two years, acquiring the industry-leading eOriginal digital lending platform, and IDS, a leading provider of compliance software for U.S. banks, lenders, credit unions, insurers, and securities firms.