WTW buys AI-powered Scottish fintech Butterwire

Global broker  WTW (Willis Towers Watson) has bolstered its climate risk analytics capabilities with the acquisition of a data analytics, artificial intelligence (AI) and machine learning platforms provider.

Glasgow, Scotland-based financial analytics company Butterwire will become a part of  WTW’s Climate and Resilience Hub.

Butterwire software incorporates  WTW’s proprietary Climate Transition Value at Risk (CTVAR) methodology, which quantifies the anticipated impact on equity and fixed-income valuations of aligning with the goals of the Paris Agreement. The company also provides the platform underpinning the STOXX Climate Transition Indices (CTI), launched by  WTW in 2021 to help investors, governments and companies manage climate transition risk, capture opportunities in their portfolios and work towards Net Zero targets.

David Nelson, senior director, climate transition analytics, Climate and Resilience Hub at  WTW, said: “We are delighted that the highly talented Butterwire team is joining  WTW. They have been working closely with our team for a number of years, and bring proven capabilities that open significant opportunity. This acquisition enhances our ability to bring clients best-in-class products and solutions to help them achieve a climate-resilient future.”

Raphael Fiorentino, CEO and founder of Butterwire, said: “ WTW is a world leader in risk management and this vote of confidence leads us to the next stage of our evolution. I’m hugely excited by the potential that WTW’s acquisition of Butterwire brings and look forward to continuing our work alongside colleagues within the Climate and Resilience Hub, which has already achieved an unrivalled breadth and depth of climate expertise and capabilities.”

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