Deloitte has completed its merger to incorporate Reformis into its UK business. The news sees 83 people join Deloitte, including new partners Paul McPhater and Brian Woodham.
Founded in 2003, Reformis is a UK headquartered business with additional offices in Australia and the US. Providing technology, business and change management consultancy services, the global business employs 67 people in the UK, alongside 11 people in the US and five in Australia.
Reformis is a specialist in providing and implementing data and technology solutions to the investment and wealth management market. However, as it looks to grow in the coming years, it has sought out a larger partner to help it realise those ambitions. To that end, Deloitte announced its intention to purchase Reformis’ business and assets in late 2022.
Now, the Big Four firm has completed a deal to bring together the two firms’ experts and respective market-leading capabilities, offering investment management clients an even broader range of technology services. Among the 83 employees that have joined across the UK, the US and Australia, the transaction sees two partners appointed from Reformis.
Brian Woodham is Reformis’ former Chief Executive Officer. Staying with the firm since 2006, he was promoted to the top role in 2019, and now hopes that the deal will help Reformis accelerate its current growth trajectory.
Woodham remarked, “Joining Deloitte marks a new chapter in Reformis’ 20-year history. During the transition and integration planning, it is evident that Deloitte shares our principles of collaboration, inclusion, accountability, and integrity. This means we are hitting the ground running and, as Reformis a Deloitte business, we will continue to help our investment management clients achieve their business goals by advising, designing, and delivering on technology and data solutions globally.”
Paul McPhater also joins as a Partner at Deloitte. The former Reformis Chair joined the firm in 2017, taking up his present role two years later. Prior to that, he spent time as a Managing Director with Markit, and COO and Head of Professional Services with Cadis Software.
Rob Cullen, Managing Partner for Consulting at Deloitte UK, added, “This is an important transaction that demonstrates our ability and willingness to invest in opportunities where there is a clear market demand. Given the ever-increasing importance of data and technology to the investment management industry, our clients will only benefit from the depth of talent and breadth of expertise that our combined investment management business, can now offer.”
