Rockland, MA – March 25, 2024– Cutter Associates, a leading provider of consulting services and research for asset managers, asset owners, public funds, and other investment companies around the world, announces that former CEO John Clark is leaving the firm, after staying on to help ensure a smooth transition for the firm’s new CEO, Cindy Castellano, CFA.

Cutter has experienced tremendous growth under John’s leadership, first as Head of Consulting and then as CEO. Under his direction, the firm expanded into APAC, opening an office in Sydney. “John has been invaluable to Cutter over the past 25 years, as he successfully guided our firm and countless clients through challenges and industry change,” said Cindy Castellano, CEO of Cutter Associates. “He has been a mentor and role model for many of us and will be missed, but I am excited about what lies ahead for Cutter as we continue to grow our consulting client base as well as our research membership in APAC, EMEA, and North America.”

Cindy Castellano formerly served as head of Cutter’s Client Facing practice, helping firms strategize and implement effective marketing and distribution practices before accepting the CEO role in April 2023. “We knew Cindy was the right person to assume the CEO role and take Cutter to the next level,” said Kazuya Kobayashi, Senior Managing Director at the firm’s parent company, NRI. “She has the vast industry experience and deep knowledge needed to guide the firm and successfully execute the strategic initiatives and goals we’ve set for the years to come.”

The firm offers a wide range of consulting services, including operating model design, system implementation, business process redesign, strategic assessments, vendor selection, and client reporting and portal assessments. Areas of expertise include enterprise data, alternative investments, operations and accounting, performance, compliance and risk, and outsourcing. In addition, exclusive insights and events are available to over 7,000 investment management industry professionals from nearly 200 member companies around the world through Cutter’s research membership.

About Cutter Associates

Cutter Associates LLC serves the operational, technology, and client experience needs of the global asset and wealth management industry, providing companies with the tools and services they need to be successful. With deep industry and domain experience and expertise, Cutter Associates provides independent research, exclusive members-only events, process benchmarking, a global consultancy, and a vast peer network. Headquartered in Rockland, Massachusetts, and owned by Tokyo-based NRI Group, Cutter Associates has subsidiaries in Canada and the United Kingdom and offices in London and Sydney. For more information, visit us at and connect with us on LinkedIn.

About NRI

Founded in 1965, NRI is a leading global provider of consulting services and system solutions, including management consulting, system integration, and IT management and solutions for the financial, manufacturing, retail, and service industries. Clients from all layers of these individual industries partner with NRI to tap NRI’s research expertise and innovative solutions across the organization to expand businesses, design corporate structures, and create new business strategies. NRI has over 16,000 employees in more than 100 offices globally, including New York, London, Tokyo, Hong Kong, Singapore, and Australia. NRI reports annual sales above $4.9 billion. NRI is rated “A” by S&P Global Ratings Japan. For more information, visit

For more information or to get in touch with a Cutter Associates representative in your region, contact us at [email protected].

Media Contact:

Jennifer Murray

Cutter Associates

[email protected]

(781) 223-5251

Whether developing operational strategies that drive meaningful value, or evaluating, selecting, and implementing systems, Cutter is here to help.