4most announces that Mark Somers is to step down as Co-CEO

4most announces that Mark Somers is to step down as Co-CEO, having been a founder of the company in 2011

18 October 2022, London: 4most (or the “Company”), the UK’s leading independent credit risk analytics consultancy, today announces that Mark Somers has confirmed his intention to step down as Co-CEO.

In 2018 the business established an Employee Share Ownership Trust (ESOT) because the board believed that broad employee share ownership would protect the Company’s culture and values, encourage a forward-thinking recruitment model and drive the best client outcomes. At that time the Company established a management succession plan as Mark indicated that he wanted to pursue other interests once the business was more diversified. 4most is now the UK’s largest independent credit risk and actuarial consultancy with 100 clients and Mark believes the time is right for the Company’s leadership to move on to drive the next era of growth while he focusses on other personal interests and technical challenges.

Mark remains a supportive and significant shareholder of the Company and will continue as a director over the coming weeks as part of an orderly transition process.

Rob McDowell, who has been Co-CEO since 2019, will become CEO, with Craig Watters, formerly Operations Director after 10 years with the Company, becoming Chief Operating Officer and a board director. Having been in a senior leadership position for several years, Rob is ideally placed to continue implementing 4most’s successful growth strategy envisaged by the Company’s other founder Mark Sisson, who sadly passed away in 2020.

Jon Herbert, Chair, commented: “On behalf of everyone at 4most, I would like to thank Mark for the enormous contribution he has made to this business, helping build it into the UK’s largest independent credit risk and actuarial consultancy. It is thanks to Mark’s technical knowledge, leadership and his genuine commitment to putting in place a forward-thinking culture and set of values that has enabled 4most to grow into the business it is today. It has been a great pleasure to work with Mark and we all wish him well for the future.

Rob has been with 4most for over a decade and his strong operational track record, knowledge of the industry and outstanding leadership credentials mean he is ideally placed to take the business forward on its growth journey as CEO.”

Mark Somers said: “4most has come a long way since its founding in 2011, when we started with just 5 employees, and it is a real source of pride to see the industry-leading firm it has become today, with over 170 consultants, representation in 4 countries and a high-quality, diverse client base. This is a very difficult decision, but after 11 years, now is the right time for me to move on. As a people business, one of my key objectives since the very beginning was to create a great, diverse place for people to work. Moving to an Employee Share Ownership Trust has further enabled us to do this, strengthening our unique cultural values, allowing us to attract the best people and leaving the firm well placed to flourish. I am particularly pleased that Rob will lead the business as CEO and wish him, along with everyone at 4most, all the best on the journey ahead.”

Rob McDowell, CEO, said: “It has been a privilege to work closely with Mark for many years and I know first-hand how passionate he is about the long-term success of 4most. With Nicola Richards as CFO and Craig Watters stepping up to COO, we have a superb team in place. My focus will be on building on our successful growth strategy, expanding our service offering and, moreover, sustaining the unique culture and supportive working environment that we have, making 4most such a great place to work.”