Professional services firm Alvarez & Marsal has launched a European cyber practice and appointed Wayne Grundy, formerly of Raytheon, as managing director.

A&M has seen increasing demand from European companies for support in addressing cyber security issues, at a time when the EU is urging businesses to declare publicly when they have suffered serious cyber attacks.

Wayne Grundy, managing director and head of A&M’s European cyber practice, said: “Cyber attacks are now a probability, rather than a possibility, and not just for those companies in obvious sectors such as defence, e-commerce or console based gaming. Recent events have shown that cyber breaches can compromise the data of millions, and regulators will punish those corporates with insufficient security measures in place. Companies must now begin to target their spending on the areas that are most critical to the protection of the brand. Cyber security is not just the responsibility of the IT department; it is a business risk that needs to be addressed by the most senior decision makers in the business.”

Grundy has 16 years’ experience working within internet security internationally. Prior to working at Raytheon UK as CIO he spent more than eight years at BAE Systems, where he created a new technology ‘e-capability’ business unit to revolutionise the way military aircraft were supported and operated, through innovative use of internet tools and techniques, to provide fleet management and supply chain visibility.

Grundy has also worked at McKinsey & Company and has experience of leading international cyber security programmes, and developing e-commerce strategies for companies in defence, insurance, media, sport and chemicals.

Al Lakhani, managing director and head of A&M’s Cyber Practice in New York, commented: “We are growing our cyber security strategy capabilities, in addition to our interim management expertise, where we assume the responsibility of Chief Information Security officer, to help businesses take the right steps towards effectively tackling these concerns around the growing threat of cyber security. We welcome Wayne, who joins a growing group of cyber experts at A&M and brings a wealth of knowledge in this area and a proven track record in building and leading international cyber security programmes.”

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