Williams succeeds Scott
Sommer, who will assume the role of board chairman and drive
the company's M&A strategy.
SCOTTSDALE, Ariz., May 17, 2024
/PRNewswire/ -- Cornerstone Advisors, a leading management and
technology consultancy for banks, credit unions, and fintech firms,
announced today that Steve Williams,
the company's long-standing president, has been appointed chief
executive officer. Williams succeeds Scott
Sommer, who co-founded Cornerstone with Williams and others
in 2002 and will now serve as Cornerstone's chairman of the
board.
As CEO, Sommer led the company's growth from eight to more than
200 professionals and was instrumental in its strategic acquisition
of six companies. As board chairman, Sommer will lead the firm's
strategic M&A efforts, oversee strategy, and remain active in
Cornerstone's governance.
"We set out in 2002 to become the nation's most respected
advisory firm for midsize banks and credit unions," Sommer said.
"Many clients that were with us in the early days are still with us
today. I couldn't be prouder of this incredible team of
professionals who have brought expertise on so many levels and
across so many banking disciplines to our enterprise. Further, I
couldn't be more confident in anyone I know to steer this company
into the future than my partner Steve
Williams."
As CEO, Williams will continue to lead the firm's growth and
thought leadership initiatives while remaining actively involved in
delivering Cornerstone's strategy, contract negotiation,
performance, transformation, and merger integration services.
"Serving as trusted advisors to banks, credit unions, and
financial technology firms has been our guiding purpose for over
two decades," Williams observed. "When we started this firm, the
average bank size was around $800
million. Today, it's over $5
billion. We've seen consolidation and the evolution of
banking as a tech-driven industry fighting against countless
competitors while working to meet ever-greater regulatory demands.
Scott and I look forward to working together to guide this
company's evolution in ways that position us to continue to provide
unmatched advisory services in a changing banking landscape."
For more than 20 years, Cornerstone Advisors has delivered
gritty insights, bold strategies, and data-driven solutions to
build smarter banks, credit unions, and fintechs. From technology
systems selection and implementation to contract negotiations,
performance improvement, vendor management, strategic planning, and
merger and acquisition services, Cornerstone combines its expertise
with proprietary data to help financial institutions thrive in
today's challenging environment. For more information, visit
www.crnrstone.com or connect with us on LinkedIn.
Media Contact:
Cate Pitts, Editorial Director
Cornerstone Advisors
(480) 425-5203
377802@email4pr.com
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SOURCE Cornerstone Advisors