DALLAS, July 17, 2012 /PRNewswire/ -- Placemark Investments, an industry leader in developing custom UMA platforms and the provider of the most flexible UMA platform, UMA Marketplace, announced today that they are expanding their Executive Management Teams by hiring long-time investment industry veteran, Erik Preus, CFA as Executive Vice-President.
Adding Mr. Preus to the Executive Management team will enable Placemark to expand the distribution of UMA Marketplace within the many different segments of the financial advisor marketplace. UMA Marketplace connects independent advisors to investment managers through a cost-effective, open-architecture platform with complete integration to custodians and technology providers. Mr. Preus will be located in Minneapolis.
"We are pleased to bring Mr.Preus' significant experience in executive leadership and management of both strategic relationships and sales to Placemark. We believe that his knowledge and previous experiences will complement the Placemark Executive Management Team well, and his initiatives will contribute to the growth of UMA Marketplace as we look to expand our distribution into the independent advisory space," stated Lee Chertavian, Chairman and CEO of Placemark Investments.
For the past six years Mr. Preus was President at RBC Funds and Head of Strategic Relationships for RBC Global Asset Management. His prior positions at RBC included Chief Operating Officer at Voyageur Asset Management and Director of Investment Consulting Services at RBC Dain Rauscher. Before RBC, Mr. Preus held positions at PIMCO Allianz/Nicholas Applegate, Delaware Capital Management, and American Express Retirement Services. Mr. Preus is a graduate of the United States Air Force Academy. He also holds an MBA from the University of Dayton and an MA from the University of Hawaii.
Erik Preus, CFA said, "I have had the privilege to work with Placemark over the years from both a sponsor and an investment manager perspective, and I have always had a tremendous amount of respect for the organization. I am excited to join the team, help grow the firm and expand the distribution of UMA Marketplace."
About Placemark Investments
Placemark Investments, which manages $8 billion in assets, develops wealth management solutions, including Unified Managed Account programs for registered investment advisors (RIAs). Placemark's UMA Marketplace platform is the most flexible UMA solution available to RIAs, allowing advisors to create custom solutions for their clients utilizing any combination of mutual funds, ETFs, and managed account strategies. UMA Marketplace offers a full suite of services and is integrated with leading custodial platforms, performance reporting vendors, and research providers to the wealth management industry.
SOURCE Placemark Investments