RegTech 100 company MetricStream, a provider of governance risk, and compliance solutions, has bolstered its team by hiring Mikael Hagstroem as president and CEO.
He will replace Shellye Archambeau who will join and continue to actively serve the company on MetricStream’s board of directors.
Prior to joining the RegTech, Hagstroem served as partner and COO of McKinsey Analytics, where he helped clients harness analytics to reshape their business models, modernize their organizations, and unlock competitive advantage and growth. He previously served as the EVP at SAS Institute, where he led more than 5,000 employees across 48 countries, and over 25 years grew a multibillion-dollar software business.
MetricStream executive chairman, Gunjan Sinha said: “We are delighted to welcome Mikael as the new President and CEO of MetricStream. Mikael’s background and experience leading global teams and building a successful global software solutions and analytics business will enable MetricStream to continue to lead with GRC. Shellye’s legacy of strong leadership will continue as she joins MetricStream’s board of directors where she will contribute valuable guidance and insight.”
With the GRC market at a ‘critical inflection point’, the company is looking towards next chapter in the market, which willl be marked by demands for significant investment and growth in the areas of intelligence and analytics, and the ability to provide sharper and proactive risk insights to drive business outcomes.
Founed in 1999, Palo Alto, California-based MetricStream provides a complete portfolio of Enterprise GRC Solutions, enabling customers to build a ‘holistic and highly efficient approach to GRC’.
It apps claims to improve business performance by strengthening risk management, corporate governance, regulatory compliance, vendor governance, and quality management for hundreds of thousands of users in dozens of industries, including financial services, healthcare, life sciences, energy and utilities, food, retail, CPG, government, hi-tech and manufacturing.
The appointment of Hagstroem comes just two months after MetricStream closed a $65m financing round led by Clearlake Capital Group. EDBI joined the round as a new investor, with existing investors Goldman Sachs, Sageview Capital, among others, also participating.
Last year, MetricStream was hand-picked by a panel of industry experts for the RegTech 100, a list of companies that every financial institution should know about in 2018. The RegTech 100 is part of the Global RegTech review – an essential, in-depth analysis of the global RegTech market.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
