Abacus Group Creates New Leadership Roles in Support of Record Growth

NEW YORK, Feb. 17, 2022 /PRNewswire/ -- Abacus Group, a global provider of IT services for alternative investment firms, today announced the appointment of two newly created senior roles in support of the company's continued record growth and commitment to product development and innovation.

Jonathan Bohrer, President

Bohrer has been with the company as Chief Financial Officer since 2014 and has been instrumental in the company's growth.

"Jonathan has been an exceptional CFO as well as a long-time trusted advisor," said Chris Grandi, CEO of Abacus Group. "He has taken the lead on all acquisitions we've closed in the last few years and has been instrumental in forming key industry partnerships. This appointment represents his unique contributions to the company and the impact he has on Abacus' success."

In the newly formed role of President, Bohrer will continue to oversee finance, operations, and human resources, as well as M&A, product management & software, and strategic partnerships. Bohrer will also now oversee marketing & communications. As CEO, Grandi will continue to drive the company's strategy and vision for growth, while directly leading the client services, technology, and sales teams.

Christopher Steele, Managing Director, Product Management & Innovation

Previously Managing Director, Software Services, Steele has been with Abacus since 2009. He oversees an in-house software team that created and continuously evolves Abacus' proprietary Client Portal software and over the last year took on an expanded role leading the company's product management initiatives.

"The majority of our new products and features tie directly into the ever-growing capabilities of our Client Portal, so it was a natural fit to move our product management under Steele's purview," said Bohrer. "His new title reflects his expanded responsibilities and focus on innovation when it comes to our product roadmap."

Bohrer's and Steele's appointments to these newly created roles marks Abacus' continued growth and development. During 2021, Abacus hired its 200^th employee and acquired ECHO Technologies IT services business, growing total employee headcount by 26%. The Abacus team in Dallas grew 58% in the past year and the New York team grew by 20%. Hiring for remote support, project management, and account management doubled. Significant investments in engineering, employee training, and business intelligence were made to support client end-user growth of 35%.

Abacus also continues to be recognized as a leader in providing IT services to the financial services industry. In 2021, Abacus was named to:

• Inc. Magazine's Inc. 5000 List of America's Fastest-Growing Private Companies
• Inc. Magazine's List of Fastest-Growing Private Companies in the NY-Metro Region
• Harrington Starr's List of Most Influential FinTech Companies
• Harrington Starr's Top 1% Workplace Awards as Best Technology Team
• ChanelE2E's Top 100 Vertical Market MSPs List
• ChannelE2E's Top 250 Public Cloud MSPs List
• Channel Futures' MSP 501 List
• CRN's Managed Service Provider (MSP) 500 List in the Elite 150 category
• CRN's Solution Provider 500 List and Fast Growth 150 List
• CRN's Next-Gen Solution Provider Leader List recognizing Tom Cole, Managing Director – UK & Europe at Abacus

About Abacus Group

Abacus Group, LLC is a leading provider of hosted IT solutions and service focused on helping alternative investment firms by providing an enterprise technology platform specifically designed for the unique needs of the financial services industry. The innovative and award-winning Abacus Cloud platform allows investment managers to source all technology needs as a service, offering the capacity to scale on demand to meet current and future cybersecurity, storage and compliance requirements. The company has offices in New York, NY; San Francisco, CA; Boston, MA; Dallas, TX; Greenwich, CT; Los Angeles, CA; Charlotte, NC; and London, England. For more information, visit www.abacusgroupllc.com.

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