Risk management: SIGMA7, a new giant enters the market

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The new Sigma7 Risk Management Services Platform aims to upgrade business risk management capabilities. The new company is formed by industry veterans with investment backing from Growth Catalyst Partners.

Risk management veteran Andrew Hersh, in partnership with middle-market private equity firm Growth Catalyst Partners (GCP), announced two days ago the launch of Sigma7, a risk management services company founded to support large organizations facing today’s dynamic complex risk environment.

Sigma7 will integrate the services of the leading companies specializing in risk services to create a complete platform to serve companies across all industries, risk domains and global locations. Three initial acquisitions have been finalized: Strategia Worldwide, specializing in risk management strategy, Paragon, a market leader in risk engineering services, and RWH Myers, experts in forensic accounting and loss recovery.

The foundational acquisitions give Sigma7 an installed customer base of over 300 major global enterprises and 150 employees operating in 9 countries on 5 continents. The new company intends to scale rapidly through acquisitions and organic growth, adding best-in-class capabilities and applying modern technologies to give businesses the real-time ability to visualize and quantify their exposures and to assess the effectiveness of their controls and hedges.

The total global market for risk management services is estimated at over $400 billion and is growing rapidly, outpacing the growth of general management consulting. An evolving risk landscape, including threats related to geopolitical volatility, cyberattacks and global health risks, is increasingly on the agenda of leaders and administrators.

Prior to founding Sigma7, Hersh held risk management consulting roles at leading companies including Lockton Companies, Aon and Marsh, and is an industry delegate to several public/private partnerships focused on national security and critical infrastructure. The company’s leadership also includes Chuck Bralver, co-founder of management consultancy, Oliver Wyman & Company, and General Sir Richard Shirreff, former deputy supreme commander of NATO and a globally recognized expert in security strategy and risk.

It should be noted that General Sir Richard Shirreff – co-founder of Strategia Worldwide – is the partner – alongside Canada-based firm Ciera Group – of the Mauritania-based firm Meen & Meen leaded by Mr. Hassana Mbeirick and which is in charge of the World Bank funded ongoing study for the Social and Environmental Strategic Assessment (SESA) of the oil and gas sector of Mauritania.

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