SCOTTSDALE, Ariz., USA, May, 2024 — Cornerstone Advisors, a prominent management and technology consultancy specializing in services for banks, credit unions, and fintech firms, announced the elevation of Steve Williams to the role of Chief Executive Officer (CEO). Williams, who has been serving as the company’s president, takes over from Scott Sommer, a co-founder of Cornerstone Advisors.
Steve Williams has been an integral part of Cornerstone Advisors since its inception in 2002, co-founding the company alongside Sommer and others. Under Sommer’s leadership as CEO, the company grew from a small team of eight to over 200 professionals and made strategic acquisitions of six companies. In his new role as board chairman, Sommer will oversee the firm’s strategic direction and remain actively involved in its governance.
Reflecting on the company’s journey and the transition, Sommer stated, “We set out in 2002 to become the nation’s most respected advisory firm for midsize banks and credit unions. Many clients that were with us in the early days are still with us today. I couldn’t be prouder of this incredible team of professionals who have brought expertise on so many levels and across so many banking disciplines to our enterprise. Further, I couldn’t be more confident in anyone I know to steer this company into the future than my partner Steve Williams.”
As the new CEO, Williams is poised to continue driving the firm’s growth and thought leadership initiatives. He remains committed to enhancing Cornerstone’s offerings in strategy, contract negotiation, performance transformation, and merger integration services. “Serving as trusted advisors to banks, credit unions, and financial technology firms has been our guiding purpose for over two decades,” said Williams.
“When we started this firm, the average bank size was around $800 million. Today, it’s over $5 billion. We’ve seen consolidation and the evolution of banking as a tech-driven industry fighting against countless competitors while working to meet ever-greater regulatory demands. Scott and I look forward to working together to guide this company’s evolution in ways that position us to continue to provide unmatched advisory services in a changing banking landscape.”
About Cornerstone Advisors:
Founded in 2002, Cornerstone Advisors has carved a niche in providing cutting-edge management and technology consulting services to the banking sector. With over 20 years of experience, Cornerstone Advisors offers a range of services including technology systems selection and implementation, contract negotiations, performance improvement, vendor management, strategic planning, and merger and acquisition services. The company is committed to helping financial institutions navigate the complexities of the market and thrive in a challenging environment.
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