Abacus Group Supercharges Expansion into MSSP Market with Key Senior Security Appointment

USA - English

• USA - English

NEW YORK, May 9, 2023 /PRNewswire/ -- Abacus Group, the leading Managed Security Services Provider ("MSSP") to alternative investment firms, today announced the appointment of Stu Solomon as Non-Executive Director. Solomon currently holds the role of President of Recorded Future, the world's largest intelligence company with over 1,600 clients across more than 70 countries.

Solomon's appointment reflects Abacus Group's sharp focus on security as a core tenet of its business strategy, with the company set to drive 20% top-line growth in 2023 by extending its cybersecurity offering. Solomon will provide an independent voice to the board, blending practitioner-based expertise with years of experience in the vendor landscape to give strategic insights from a business and technology perspective.

Solomon's appointment follows Abacus Group's milestone acquisition in January of Gotham Security and its parent company, GoVanguard, two boutique cybersecurity consulting companies. Abacus Group's expansion into the MSSP space meets the evolving regulatory and investor demands facing the alternative investment sector. To support this progression, Solomon will advise on new product development in the company's extensive suite of industry-leading cybersecurity services and products built for investment managers.

Prior to his current role at Recorded Future, Solomon served as Chief Technology Officer and Chief Strategy Officer for the multi-billion-dollar Global Security VAR and Integration firm Optiv and has run multiple large MSSPs and global services businesses. Solomon also helped to build out Bank of America's cybersecurity program as a Senior Vice President. His deep well of client knowledge and decades of experience growing business models at scale will help Abacus Group develop its holistic approach to cybersecurity by supporting the entire security program lifecycle, from technology components and appliances to policy and compliance practices.

Chris Grandi, CEO of Abacus Group, commented: "We are thrilled to welcome someone with the experience, caliber, and robust security expertise of Stu to the board. His insights will be an immense asset to Abacus Group as we continue to expand and diversify our portfolio of cybersecurity services. Alternative investment firms increasingly rely on outsourced providers to manage their technology and cybersecurity needs – and Stu's appointment will help us keep cutting-edge yet practical security at the center of all our services and products."

Stu Solomon, Non-Executive Director at Abacus Group, commented: "I have joined the board at a very exciting time in Abacus Group's growth journey. As the business continues to distinguish itself as an MSSP with leading-edge cybersecurity at the forefront of its offering, I look forward to helping Abacus Group meet the needs of the business and its rapidly growing customer base."

About Abacus Group
Abacus Group is a leading provider of hosted IT solutions and services 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; Miami, FL; and London, England. For more information, visit www.abacusgroupllc.com.

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