People Moves Roundup | Chief Investment Officer

Jérôme Nommé to Join KKR as Head of France

KKR announces the appointment of Jérôme Nommé as a Mmmber, effective September 1.

Based in Paris, Jerome will lead private equity investing in France and represent KKR working with KKR’s specialized teams across all investment platforms, including infrastructure, real estate and credit.

Jérôme joins KKR from Sun Capital, where he was a managing director. At Sun Capital he led the sourcing and execution of multiple investments across Western Europe. Before joining Sun Capital in 2011, Jérôme was a Partner at EY in Paris in the corporate finance team, working with clients on a range of M&A engagements.

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Johannes Huth, member and head of KKR EMEA, said “We’re delighted to welcome Jérôme to the team at KKR. Jérôme’s investment expertise and track record will make him an invaluable addition to our leadership team in Europe, which uniquely combines deep sector expertise with local market knowledge.”

Robeco appoints Mark den Hollander as Chief Financial & Risk Officer

Robeco Institutional Asset Management B.V. (Robeco), announces today that Mark den Hollander has been appointed chief financial and risk officer (CFRO), and a member of Robeco’s executive committeeand statutory director, effective immediately.

He will be responsible for business control and finance, the financial and operational risk management teams, fiscal affairs, legal affairs, compliance and the investment restrictions team.

Den Hollander has over 25 years of experience in the asset management industry: he held several positions at NN Investment Partners (formerly known as ING Investment Management) (2009-2018) and ABN AMRO Asset Management (1993-2009). His most recent position at NN Investment Partners was CFRO. Before that, he served as CRO (2012-2016) and Managing Director and Head of Investment Solutions (2009-2012).

PineBridge Appoints Henrique Francisco Chief Technology Officer

PineBridge Investments announced the appointment of Henrique Francisco as chief technology officer. In this role, he will lead the firm’s global team of IT professionals, and work closely with firm leaders to define and drive the firm’s IT strategy. He is based in New York and reports to PineBridge COO Michael J. Karpik.

Francisco has over 20 years of experience in leading large global technology functions across a range of financial services, including investment management and fund services. He was most recently Head of Distribution and Client Technology at OppenheimerFunds Inc. in New York, where he was responsible for technology-driven solutions for the sales, digital marketing, digital client channel, client and product reporting, and transfer agent business lines.

“Henrique brings an ideal combination of technical expertise and business acumen to the role,” said Karpik. “I am confident that he will drive innovation that creates efficiencies, supports our growth, and continues to improve our clients’ experience.”

Multi-Asset Class Portfolio Management Technology Leader Solovis Continues Record Revenue Growth in 1H2019, Adds New Chief Operating Officer

Solovis, a multi-asset class portfolio management, analytics and reporting platform for limited partners, asset owners and allocators, continued to achieve record growth and company expansion in the first half of 2019.

So far this year, the company has achieved back-to-back record quarterly revenue, launched its Solovis Predict application and added a fintech industry veteran as its COO.

Solovis also continued to strengthen its executive team. After appointing two new executives in 2018 to expand its sales and marketing functions, Solovis recently added industry veteran, Ron Pruitt, as its new chief operating officer.

Prior to Solovis, Ron served as EVP of Product Management at Envestnet, which he joined following its acquisition of Placemark Investments, a company he co-founded in 1999.

“Our growth in the first six months of this year demonstrates our laser focus on transforming how the institutional investment industry leverages technology to achieve strategic goals,” said Josh Smith, CEO and co-founder of Solovis. “Our ability to aggregate, model and analyze multi-asset class portfolios at a strategic level is unique in the industry and fills a big gap for limited partners.”

Roe, Eisen join County Bancorp, Inc. (Nasdaq: ICBK) Board of Directors
County Bancorp, Inc. announced the addition of Patrick Roe and Jacob Eisen to its board of directors. Both will also serve on the board of directors of Investors Community Bank, a wholly-owned subsidiary of County Bancorp, Inc.

Roewas appointed to the CBI and ICB boards of directors in February 2019 and his current term will expire in May 2022. He served as the president of First Community Financial Partners, Inc., a publicly traded bank holding company located in Illinois, from 2011 to 2017. Additionally he served as chief operating officer and chief executive officer for the company, as well as one of its directors.

Prior to joining First Community Financial Partners, Inc. and First Community Financial Bank, Roe served as chief executive officer and president of First Community Bank of Homer Glen & Lockport in Illinois. He also was in banking for 9 years before joining the Illinois-based Heritage Bank in 1984, where he served as president and a director.

Eisenwas appointed to the CBI and ICB boards of directors in April 2019 and his current term will expire in May 2020. He brings more than 17 years of diversified financial services experience to CBI.

Eisen currently serves as chief operating officer and a director of ConnexPay, an innovative business-to-business payments company, which is venture-capital backed. Earlier in his career, he served as head of the financial services practice for a boutique global investment bank with more than $3 billion in assets under management, and as head of capital markets for a broker-dealer specializing in community and regional banks.

“We believe that Patrick’s and Jacob’s combined financial services experience will be of significant benefit to our bank and holding company.” said Tim Schneider, President of County Bancorp, Inc. and CEO of Investors Community Bank. “Both have extensive qualifications that bring value to the strategic operations of the bank and will contribute to our long-term success.”

Rhode Island’s general assembly has passed a bill that requires nongovernmental pension plans with 200 or more members that are not covered by the Employee Retirement Income Security Act of 1974 (ERISA) to comply with ERISA reporting requirements.

The legislation is intended to close a loophole that prevented church pensions from having to provide financial information to plan members. The bill now goes to Gov. Gina Raimondo.

ERISA requires private pension plans to send members a letter each year outlining the health of their plan. However, pension plans administered by religious organizations are exempt from ERISA and Governmental Accounting Standards Board (GASB) reporting standards. As a result, many members of so-called church plans complained they were often unable to access information regarding the financial health of their pensions.

The legislation was sponsored by Senate President Dominick Ruggerio, and House Majority Leader K. Joseph Shekarchi.

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“All Rhode Island workers and retirees deserve to know the truth about the health of their pension plan,” Ruggerio said in a statement. “Too many hard-working caregivers and health professionals, who spent their careers serving their communities, have been hurt by a lack of transparency. We must ensure that this never happens again.”

The legislation was in direct response to the collapse of the St. Joseph Health Services of Rhode Island pension fund, which went into state receivership in 2017, leaving approximately 2,700 current and retired workers of Our Lady of Fatima and Roger Williams hospitals with a loss of benefits.

The workers filed class-action lawsuits that accused the Roman Catholic bishop of Providence and hospital operator Prospect CharterCare of conspiring to mislead state regulators and commit fraud. The suits said that Bishop Thomas Tobin and the operators of Our Lady of Fatima Hospital vastly underfunded the hospital’s pension plan, and then conspired to conceal that fact from regulators and participants.

“This is common-sense legislation that provides members of church-run retirement plans the same level of transparency afforded to members of private pension plans, to help them know how their pension funds are doing,” said Shekarchi. “Disclosure will help ensure that members’ retirement savings is not imperiled by mismanagement and that those in charge cannot easily obscure negligence or misconduct.”

Tags: church, ERISA, Pension, Religion, Rhode Island