Industry veterans Oliver Schofield and Malcolm Cutts-Watson have announced that they plan to merge their two consultancy businesses – RISCS and CWC – of which they are Managing Partner and Founder, respectively.
Founded by Schofield in 2012, Risk & Insurance Strategy Consultants (RISCS) is an independent consultancy that provides captive and alternative risk transfer (ART) strategic risk advice to brokers, underwriters, corporates and captives globally.
Cutts Watson Consulting (CWC), meanwhile, was formed in 2015 by Cutts-Watson and a group of captive practitioners, and similarly provides a broad range of advisory services in the ART space.
By combining their two entities, Schofield and Cutts-Watson intend to bring together the complementary skills and offerings of both firms, and to expand their global footprints to six regional hubs.
Under the terms of the merger, Schofield will serve as Chief Executive of the combined RISCS CWC, while Malcolm will assume the role of Non- Executive Chairman.
“We are delighted to be joining forces at such an exciting time for the industry,” said Schofield. “The ambitions of RISCS CWC have no limits. We are driven by serving our clients and we continue to have the desire to build a leading global captive and ART consultancy by being the place for people with an independent mindset to work.”
“This combination enables us to collectively broaden our offering, increase our footprint and grow our team,” he continued. “We will continue to be domicile, underwriter, captive manager and broker agnostic ensuring that we remain truly independent in our approach, our thoughts and the delivery of our solutions.”
Cutts-Watson also commented: “I have known and respected Oliver and his team for some time now. Feedback from the industry strongly evidences the value of objective advice, free of any conflicts. Bringing our two businesses together ensures clients have a viable choice of independent risk financing advisers. I and the team of consultants at CWC are excited about the start of the next chapter of growth.”
