LOS ANGELES, Oct. 11, 2018 /PRNewswire/ -- Cetera Financial Group® ("Cetera"), a leading network of independent firms supporting the delivery of objective retail financial advice, today announced the formation of its new Board of Directors, following the firm's selection in July of Genstar Capital as its strategic partner to accelerate Cetera's growth and success. Three of the new Board members – Ben Brigeman, Gary Michel and Hal Strong – bring long and successful track records of leadership in various segments of the financial services world to the Cetera Board, having served in senior executive positions for large, well-known financial services firms as well as innovative technology companies, respectively. The Board also includes two highly-respected Genstar executives and Cetera's Chief Executive Officer, Robert "RJ" Moore.
Robert "RJ" Moore, Chief Executive Officer of Cetera, said, "We are privileged to have assembled a Board of Directors of such exceptional talent and leadership experience, and we look forward to working with them to drive Cetera's ongoing success. With the war for talented and experienced leadership continuing to intensify throughout the financial services space, the addition of these five exceptional executives to our team immediately brings Cetera a deeper level of operational insight and strategic guidance than we have ever had before. Even more importantly for the advisors we serve and the clients they support, each of our new Board members shares our commitment and passion for delivering on our vision of the Advice-Centric Experience, a model for the future of professional financial guidance that places the focus squarely on advice, as opposed to products or sales. We look forward to continuing to expand our Board with additional professionals of the highest caliber of skills and expertise in the future."
In addition to Mr. Moore, the members of Cetera's new Board of Directors include:
- Ben Brigeman, Chairman of the Cetera Board and former Executive Vice President for Charles Schwab & Co., as well as former Head of Schwab's Individual Investor (Retail) business. Mr. Brigeman serves on Genstar Capital's non-employee Strategic Advisory Board and is a Member of the Board of Directors for Ascensus, Apex Group, and Institutional Shareholder Services. He is also President and CEO of Brigeman Enterprises; Board Member of Surgical Theater, LLC; and Chairman of the Advisory Board for Stratos Wealth Partners.
- Gary Michel, former Chief Financial Officer of TravelClick, a former Genstar portfolio company. Before joining TravelClick, Mr. Michel was CFO of Register.com, a provider of web services to small and mid-sized businesses. He is also a member of Genstar's non-employee Strategic Advisory Board.
- Hal Strong, former Vice Chairman of Russell Investments. Mr. Strong also served as Russell's Chief Operating Officer, CFO, Head of Alternative Investments and Head of Investment Banking during his 18-year career at the company. Mr. Strong serves on Genstar's non-employee Strategic Advisory Board and is a Member of the Board of Directors of Altegris, Apex Group, ISS, Mercer Advisors, and Strategic Insight.
- Tony Salewski, Managing Director of Genstar Capital. Prior to joining Genstar Capital in 2007, Mr. Salewski served as the Chief of Staff for Barclays Global Investors ("BGI"), where he executed strategic initiatives for that firm's Executive Committee. Before his time at BGI, Mr. Salewski was an Associate at Hellman & Friedman LLC.
- Sid Ramakrishnan, Vice President of Genstar Capital. Mr. Ramakrishnan originally joined Genstar in 2012 and went on to serve as Chief of Staff to the CEO at AssetMark, a former Genstar portfolio company, and led corporate strategy for the company. Prior to joining Genstar, he worked in the investment banking division of Morgan Stanley.
Tony Salewski, Managing Director of Genstar Capital, said, "The partnership between Genstar Capital and Cetera is off to an exciting and productive start, with the formation of the new Board of Directors serving as another key milestone. Genstar takes a unique, long term growth-oriented approach to its investments in the financial services sector, and the composition of the new Cetera Board fully reflects that perspective. In Ben Brigeman, Gary Michel and Hal Strong, the Board includes a trio of highly-experienced leaders with decades of combined expertise in guiding financial services companies toward the successful realization of their strategic growth goals. On behalf of Genstar and the Board, we look forward to working alongside Cetera's talented executive team to bring the company's compelling vision of the Advice-Centric future of the advisory profession to fruition."
Mr. Moore concluded, "Genstar's longstanding track record of exceptional performance and unwavering commitment to growth has made it a highly desirable destination for the brightest and most accomplished executives looking to transition into strategic advisory board roles. Genstar's affiliated Strategic Advisors are second to none, and having access to such accomplished and talented individuals played a significant role in our decision to select Genstar during our capital structure review process. We are eager to begin the next chapter in Cetera's growth with our new Board of Directors."
About Cetera Financial Group®
Cetera Financial Group ("Cetera") is a leading network of independent firms empowering the delivery of professional financial advice to individuals, families and company retirement plans across the country through trusted financial advisors and financial institutions. Cetera is the second-largest independent financial advisor network in the nation by number of advisors, as well as a leading service provider to the investment programs of banks and credit unions.
Through its multiple distinct firms, Cetera offers independent and institutions-based advisors the benefits of a large, established broker-dealer and registered investment adviser, while serving advisors and institutions in a way that is customized to their needs and aspirations. Advisor support resources offered through Cetera include award-winning wealth management and advisory platforms, comprehensive broker-dealer and registered investment adviser services, practice management support and innovative technology. For more information, visit cetera.com.
*"Cetera Financial Group" refers to the network of independent retail firms encompassing, among others, Cetera Advisors, Cetera Advisor Networks, Cetera Investment Services (marketed as Cetera Financial Institutions), Cetera Financial Specialists, First Allied Securities and Summit Brokerage Services. All firms are members FINRA / SIPC.
About Genstar Capital
Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for 30 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar currently has approximately $10 billion of assets under management and targets investments focused on targeted segments of the financial services, software, industrial technology, and healthcare industries.
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SOURCE Cetera Financial Group