News Release Details

Banking Economist Strengthens Marakon’s Offering in the Financial Services Sector

BOSTON--(BUSINESS WIRE)--Oct. 7, 2016-- Charles River Associates (NASDAQ: CRAI), a worldwide leader in providing economic, financial, and management consulting services, today announced that Patrick Foley has joined Marakon, a management consulting practice at CRA, as a senior advisor. Mr. Foley has more than 30 years of experience advising on strategy, providing economic analysis, and forecasting in the financial services sector.

“It is a pleasure to welcome Patrick Foley to CRA and Marakon,” said CRA's President and Chief Executive Officer Paul Maleh. “His experience as a financial services economist and strategist gives him a unique understanding of how the economy impacts the performance of businesses which makes him a strong addition to the Marakon team.”

“As we expand Marakon’s management consulting offering in core sectors including financial services, it is a pleasure to welcome Patrick,” says Neal Kissel, Marakon’s Managing Director in London. “He brings a wealth of practical experience to help our financial services clients manage challenging issues.”

Most recently, Mr. Foley was Chief Economist and Group Strategy Director for Lloyds Banking Group where he advised senior management and the Board on economic developments and strategic issues. This year, he led a major Board review of likely future financial services market trends and their impact on bank competitiveness and profitability. He designed the organic growth strategy that turned around Lloyds TSB from an ex-growth position in 2002 to a market leader five years later. Mr. Foley also led negotiations on several potential acquisitions and managed the successful divestment of Abbey Life and a number of overseas businesses.

Previously, Mr. Foley worked for Schroders and the Confederation of British Industry. He has written numerous articles for Lloyds Bank publications, outside journals, and contributed to a number of books on issues including on inflation and exchange rate economics. He holds a BSc and MSc in Economics from the London School of Economics and Political Science.

About Marakon
Marakon specializes in strategy and helping CEOs and their leadership teams achieve winning performance and stronger organizations. Marakon has been working with business leaders for more than 30 years and has built a reputation for working with a client portfolio that has consistently outperformed its peers. Its consulting teams combine deep sector experience and functional knowledge. Marakon’s approach is underpinned by value creation as the common denominator for decision making, a rigorous process based on a deep set of facts, and the assessment of alternative strategies as a mechanism to build leadership team commitment to the best path forward. More information is available at http://www.marakon.com and on LinkedIn.

About Charles River Associates (CRA)
Charles River Associates® is a global consulting firm specializing in litigation, regulatory, financial, and management consulting. CRA advises clients on economic and financial matters pertaining to litigation and regulatory proceedings, and guides corporations through critical business strategy and performance-related issues. Since 1965, clients have engaged CRA for its unique combination of functional expertise and industry knowledge, and for its objective solutions to complex problems. Headquartered in Boston, CRA has offices throughout the world and celebrated its 50^th anniversary in 2015. Detailed information about Charles River Associates, a registered trade name of CRA International, Inc., is available at http://www.crai.com. Follow us on LinkedIn, Twitter, and Facebook.

Statements in this press release concerning the role of Patrick Foley, the Company’s litigation and strategy consulting offering, including in finance, any future business Patrick Foley may generate for the Company, the future business, operating results, and financial condition of the Company and statements using the terms “strengthens,” or “expands”, or similar expressions are "forward-looking" statements as defined in the Private Securities Litigation Reform Act of 1995. These statements are based upon management's current expectations and are subject to a number of factors and uncertainties. Information contained in these forward-looking statements is inherently uncertain, and actual performance and results may differ materially due to many important factors. Such factors that could cause actual performance or results to differ materially from any forward-looking statements made by the Company include, among others, the failure to generate engagements for us; dependence on the growth of our litigation or strategy consulting practice, including in finance; the potential loss of clients; the demand environment; global economic conditions; foreign exchange rate fluctuations; and intense competition, as well as other potential factors that could affect our financial results are included in our periodic filings with the Securities and Exchange Commission, including risks under the heading “Risk Factors.” We cannot guarantee any future results, levels of activity, performance or achievement. We undertake no obligation to update any forward-looking statements after the date of this press release, and we do not intend to do so.

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Source: Charles River Associates

Charles River Associates
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Charles River Associates, 617-425-3620
media@crai.com
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