Financial services advisory firms merge to form Aite-Novarica Group

Two research and advisory firms, Aite Group LLC and Novarica Inc., have partnered to create a company that will advise financial services companies, the two groups said on Wednesday.

The combined company comprises 70 analysts and industry experts in North America and Europe and offers a library of more than 3,000 reports covering 16 years of technological innovation in financial services. It will host virtual and face-to-face conferences. The Aite-Novarica Group has hundreds of banks, insurers, payment service providers and investment firms among its customers and its areas of coverage include banking and payments, insurance, investments, cybersecurity and fraud.

Kurt Reisenberg, left, has been appointed CEO of the newly formed Aite Novarica Group. Matthew Josefowicz, former CEO of Novarica, is now Head of Research Councils for the Aite Novarica Group.

Kurt Reisenberg, former Executive Board member, will lead the combined company as CEO.

“We have a great opportunity to leverage the collective industry experience of our subject matter experts to advise financial services executives on making key decisions,” he said in a press release.

Prior to the merger, Novarica specialized in insurance, while Aite Group covered retail and payments, corporate and payments, asset management, capital markets and specialized areas such as fraud, anti-money laundering and cybersecurity.

“Our entire team looks forward to providing our CIO customers of insurers with additional insights from related financial services verticals and specialty areas such as fraud, anti-money laundering, and cybersecurity,” said Matthew Josefowicz, former CEO of Novarica, who now heads the research councils for the Aite Novarica Group.

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