Wolters Kluwer announced that it intends to bring together four of its global enterprise software businesses to form a new division, Corporate Performance & ESG. This is to meet the growing demand from corporations and banks for integrated financial, operational, and ESG performance management and reporting solutions.

This new division will be comprised of the following global software units: Corporate Performance (CCH Tagetik; including U.S. Corporate Tax); EHS/ORM Software (Enablon); Finance, Risk & Reporting and Internal Audit Solutions (TeamMate).

All four businesses serve global corporations and banks with cloud and on-premise solutions and have leading market positions in their specific areas of expertise. Combining these assets will allow Wolters Kluwer to accelerate synergies and leverage their combined global strengths to pursue a growing market opportunity.

Corporate Performance & ESG will be led by Karen Abramson, CEO of Wolters Kluwer’s Tax & Accounting division for the past nine years. Jason Marx, currently CEO of Wolters Kluwer Tax & Accounting, North America, will be appointed CEO of the Tax & Accounting division.

The Governance, Risk & Compliance (GRC) division will become Financial & Corporate Compliance and will comprise CT Corporation and Compliance Solutions, which provide legal services and banking compliance software, content, and lien solutions to mainly U.S. businesses. Steve Meirink, Executive Vice President and General Manager of Compliance Solutions, will be appointed CEO of Financial & Corporate Compliance.

Wolters Kluwer’s Enterprise Legal Management unit (ELM), currently part of the GRC division, will be transferred to the Legal & Regulatory division for closer alignment with the Legal Software business.