Former BCG and Strategy& partner Thomas Achhorner joins additiv
Former BCG partner Thomas Achhorner has joined additiv, a Zurich-based provider of technology solutions to the financial services industry. Achhorner, who joins from Strategy&, assumes the role of Global Head of Solutions, taking responsibility for additiv’s Software-as-a-Service offering (SaaS) and leading a team of 20 product managers, consultants and experts.
Thomas Achhorner brings with him a wealth of experience from across the banking industry. In his most recent role he served as Head of Digital Financial Services at Strategy& – the strategy consulting arm of PwC. In the role, he spearheaded a range of initiatives that are re-shaping the Australian banking landscape. Prior to this, Achhorner worked just over a year for Witena, a Swiss interim management firm focuses on executives in the digital space, and over twenty years with The Boston Consulting Group (BCG) in Switzerland, Hong Kong, China and Australia, where he advised on major IT transformation, post-merger integration and digital business programmes.
Based in Zurich and Singapore, Achhorner will in his new role focus on developing additiv’s SaaS offering across banks, asset managers and insurance firms, as well as on the roll-out of a line of Robo Advisor products (ranging from retail to HNWIs segments). Additiv’s service portfolio includes services such as customer-bank-interaction models, digital marketing, sales, advice, service and performance management solutions, all implemented within the firm‘s proprietary Digital Finance Suite (DFS).
The firm is tapping into the growing ‘digital disconnect’ in the financial services industry, as players are struggling to realise their digital aspirations and their ability to meet client expectations in the face of compliance, regulation and cost reduction, including even the likes of the mighty Swiss banks. A recent report from BCG for instance found that delivering on the client experience is a key success factor for banks and wealth managers in their bid to ramp up profits, while another study, by EY, highlighted that digital and compliance are among the top three strategic priorities for banking executives globally.
“additiv has listened to the market. It understands the need for secure, compliant, easy-to-launch, cost efficient solutions. And it is delivering on those needs. This is what drew me to the company and it’s why I am proud to be leading our cutting-edge SaaS division, helping to maintain the innovation that has put additiv firmly on the map of the FinTech universe”, remarked Achhorner.
Michael Stemmle, CEO of additive, said he is delighted with the addition of the experienced management consultant, stating: “Thomas’ experience in C-level consulting, digitisation, and international business was the perfect formula for us. His experience is second-to-none and we’re confident he’ll be a great addition.”
The move is part of additiv’s wider expansion plans – in May the company, founded in 1998, received a capital injection of $21.3 million to fuel accelerated growth. With the funds, additive will in the coming months open offices in Frankfurt and London, Europe’s largest financial services hubs, and bolster its sales team to cater for growing demand in Europe, the UK and South-East Asia.
Last month another former partner at a strategy consulting firm joined a financial services player. Tim Welsh, who was a senior partner at McKinsey & Company and served the American consultancy for over 25 years, joined US Bancorp, US’ fifth largest bank, as Vice Chairman of Consumer Banking Sales and Support.
Related: Asian banking industry assets breaches $50 trillion barrier, top 30 banks.
