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Foley Becomes CFO, CAO At Butterfield Fulcrum


Sean Foley has been promoted at fund administrator Butterfield Fulcrum and wealth management reporting firm FORS Limited to chief financial officer and chief administration officer.

Foley was previously group financial controller for Butterfield Fulcrum.

While Butterfield Fulcrum and FORS are run separately, they were recently brought together to offer more comprehensive outsourcing solutions for the alternative investment management and trust industries.

"We are delighted to expand Sean's role within the new entity, providing continuity to our team," said Glenn Henderson, chief executive officer of Butterfield Fulcrum. "He will be responsible for the integrity of the companies' financial information systems, as well as a key part of the executive team at Butterfield Fulcrum and FORS."

 

Matthews Names Hartley Chief Financial Officer

David A. Hartley has joined Matthews International Capital Management, an asset management firm that specializes in Asia, as chief financial officer.

A 25-year veteran of the financial services industry, Hartley was previously chief accounting officer at Invesco, responsible for corporate accounting and financial reporting to Invesco's senior managing directors and board of directors. Before that, he was chief financial officer of Invesco's institutional and global divisions. He joined Invesco in 1991.

Hartley began his career at KPMG in London in 1982 and five years later joined the firm's Atlanta office, where he worked as a senior manager in the international auditing practice.

"We are extremely pleased to welcome David to our management team," said William Hackett, chief executive officer of Matthews. "As Matthews seeks to expand its global footprint, I am confident that David's broad financial experience and global expertise will serve the firm well."

Hartley said he decided to join Matthews because it is "a leader in investing in Asia and is extremely well-positioned for growth. I look forward to working with the Matthews team to help the company execute its strategy and meet its short- and long-term goals."

 

F-Squared Names Carey President of Retirement

F-Squared Investments has appointed Bill Carey president of its newly formed retirement solutions unit.

F-Squared said that Carey "has a long and distinguished career within the defined contribution and retirement segments," pointing to his position as president of Fidelity Investments' 401(k) business and as head of institutional retirement at Bank of America.

In his new role, Carey is responsible for F-Squared's customized, private-labeled target-date strategies and funds, as well as collective trust funds and other investment solutions.

Under Carey's direction, F-Squared will seek to partner with financial services firms that have a product and distribution commitment to the retirement market, and then develop additional customized, private-labeled target-date offerings.

"We plan to offer firms a next-generation solution that can provide financial services and investment firms an immediate and differentiated entrée into the retirement market and the $2 trillion in assets expected to be allocated to target date funds by 2015," Carey said.

He added: "While target-date funds are here to stay, the failure to meet client expectations of asset protection in 2008 exposed some flaws with so-called 'first-generation' target-date funds. The next-generation solution needs to be able to protect client assets during severe market downturns. F-Squared's investment offerings and unique business model is the perfect platform to deliver such a solution."

Howard Present, chief executive officer of F-Squared, noted that clients had been asking the firm to move into the retirement market for nearly two years. F-Squared took its time to find the perfect candidate to take the helm, Present said.

"We believe we found that leader in Bill Carey. Bill understands and is in tune with the market, has already built a multi-billion-dollar business, and knows how to leverage F-Squared's product capabilities and business model to build out a world-class retirement company."

 

Deloitte Expands Governance, Risk Team

Deloitte has expanded its asset management services' governance, risk and regulatory practice with the hiring of Jeannie Lewis and Bryan Morris, and the promotion of April Lemay to head of the team.

Lewis, a 20-year veteran of financial services, she joins Deloitte from Driehaus Capital Management, where she was an assistant general counsel from 2007 to 2010. From 1988 until 2007, Lewis was with the Chicago office of the Securities and Exchange Commission in various capacities, with increasing supervisory responsibility including associate regional director for the Inspection Management Examination Program.

Morris brings more than 12 years of industry experience and joins Deloitte as a partner from the Securities and Exchange Commission, where, since 2007, he served as a professional accounting fellow in the Office of the Chief Accountant, Division of Investment Management.

From 2006 to 2007, Morris was an assistant chief auditor in the Public Company Accounting Oversight Board's Office of the Chief Auditor.

Lemay has more than 14 years of financial services experience and joined Deloitte in 1996, specializing in operational efficiency, regulatory compliance and internal control consulting services.