Chairperson Awards 2023 Featuring:
Welcome to the Chairperson Awards 2023 CEO Monthly is proud to announce the launch of the Chairperson Awards 2023! Returning for the third consecutive year, this programme will shine a light on the dedicated Chairpeople whose flexibility and ingenuity has driven the expansion of business across the globe for yet another year. Many industries grappled with various challenges during the pandemic, including financial instability, operational restrictions, workforce shortages, and supply chain disruptions. Companies have been forced to reinvent themselves and embrace new technologies and business practices in order to stay competitive in the post-covid era. The Chairperson is a key figure in shaping the identity of a company, whose influence extends across leadership, strategy, culture, and values. The role of the Chair has evolved alongside this changing corporate landscape, in response to societal shifts that place increasing importance on sustainability, transparency, and ethical responsibility. Respondents in a 2021 survey of Chairpeople by the Savannah Group noted that board leadership has expanded in recent years and now encompasses non-traditional issues such as ESG agendas and D&I strategies. Today’s consumers look to support companies that match their social values, holding business leaders accountable for strategic decisions, and as such the modern Chairperson must take on a more visible role and act as a public representative for their company. Sofi Parry, Senior Editor Website: www.ceo-review.com AI Global Media, Ltd. (AI) takes reasonable measures to ensure the quality of the information on this web site. However, AI will not assume any legal liability or responsibility for the accuracy, correctness or completeness of any information that is available through this web site. If errors are brought to our attention, we will try to correct them. The information available through the website and our partner publications is for your general information and use and is not intended to address any particular finance or investment requirements. In particular, the information does not constitute any form of advice or recommendation by us or any of our partner publications and is not intended to be relied upon by users in making or refraining from making any investment or financial decisions. Appropriate independent advice should be obtained before making any such decision. Any arrangement made between you and any third party named in the site is at your sole risk and responsibility.
4. EnviroWave Enterprise Solutions: Most Innovative Environmental Services Chairman 2023 6. Bethebestyoucanbe Ltd: Yorkshire Coach & Mentor of the Year 2023: Kevin Kerley 7. Red Design Group: Best Retail & Hospitality Design Chairman 2023: Roy Tavenor 8. Gatwick Airport: Aviation Chairperson of the Year 2023 (UK): Holly Jubb 9. CPP Investments Welcomes Designation of Dean Connor as Chairperson of its Board of Directors 10. R&T Deposit Solutions Announces Strategic Investment from GTCR and Appointment of Susan Cosgrove as Executive Chairperson Contents
CEO MONTHLY / CHAIRPERSON AWARDS 2023 4 Sep23270 Most Innovative Environmental Services Chairman 2023 EnviroWave Enterprise Solutions -Houston (TX) USA helps companies to develop and drive projects, challenge the status quo, and implement transformation. The company provides its services in industries such as energy, renewables (green hydrogen, green ammonia, methanol), utilities (water, wastewater, waste management, cogeneration), and infrastructure for all types of projects, from concept design to commissioning and operations for diverse contractual options. Here we interview EnviroWave Enterprise Solutions’ Chairman and Chief Executive Officer, Constantin Ionesco as he wins a title in the Chairperson Awards 2023. “Solutions and Strategic Planning for a Better Tomorrow.” To start, please tell us more about EWES. How much experience do you have in the industry and what do you offer to your clients? “We have over 63 years of expertise to offer to clients’ projects, strategy, and development. Our transformational company offers high standards of services, always adding value to your projects through safety, reliability, strategy and innovation, management of change, continuous improvement, high standards of engineering, and lean and agile project delivery. “We dedicate all our business and its commitment to sustainable development, to our clients, and to making their businesses stronger in all aspects, from strategy and development to projects execution, completion, and commissioning – to grow their future by having all our know-how and deep industry expertise at their full disposal, as well as worldwide resources and long-term relationships. “We value our clients’ needs and are the onestop-shop of choice for our clients’ requirements in over 22 countries.” How about your leadership style? What has driven you to success, and how do you find balance in such a fastpaced environment? “A CEO should have a clear direction in which they want to steer their business. Ambition and optimism are good things when grounded in reality, and the head of a company needs to believe in those goals. Being able to inspire others to buy into your vision is an important tool in leadership. It is for me very important to listen and explain. I want open discussions and alignment. Another important quality is adaptability. I have learned during my career around the world, how to adapt to different cultures and environments. It is equally important to adapt to changes in your industry, sector and business that can have a profound impact on your strategy, priorities, and the decisions you must make. “One of my objectives is to convince people to join our team and bring novel and smart ideas. I love working with people that are smarter than me and from whom I can learn every day. “Inspiring trust and being trusted is essential for me. Stakeholders must have faith in your ability to lead and your decision making, and you need to feel confident in delegating to company teams and to those you work with. “I learned that a trusting CEO has more time to focus on the big picture and benefits from a positive working environment where staff capability is recognized. “I’m a firm believer in teamwork and in allowing all employees, partners, and subcontractors to have a real life / work balance. This is the only way I’m convinced a company can become strong and sustain growth and profitability. Family is valuable – my wife (a 35 years’ global veteran in environmental services) and my two boys are of greatest importance for me and they ensure the equilibrium I need to be successful in my business endeavours. “Another important thing is physical activity, for example, I’m an avid swimmer at a Masters club (The Woodlands Masters Swim Club) and I swim 2500 yards in 1 hour every day. It allows me to eliminate all the stress of a long workday and make the difference between what’s important and what’s urgent, as an example.” How has your career and experience helped you to grow over time? “There is no school for CEOs – except the school of experience. Chief executives must learn on the job how to lead a company, and they must learn while every stakeholder is watching. After a 32 years career and holding executive positions in major companies, managing up to $3bln, I know what I excel at, what I want to do, and maybe what I don’t want to do is just as important. Only experience can bring this. “Experience has shown me what it means to be really agile and fast in decision making, to be able to help and support efficiently clients that have real and immediate needs. This is done through allowing teams to think, innovate, and decide. I care about people and their safety and success; they are the most important asset of any company that really wants to succeed. I believe in evolving from individual excellence to team and processes excellence. Have the talent of convincing people who don’t think they can work together, finally work together efficiently, constructively, and profitably. With time I learned not to let ego get in the way, but still
CEO MONTHLY / CHAIRPERSON AWARDS 2023 5 Mar23134 have great pride in what I have achieved.” Tell us more about your industry at present. Are there any particular issues/ changes that are affecting it, and how do you combat these issues? “Two things are threatening the world, wrote Paul Valery, the order, and the disorder.” “Companies around the world are passing through an authority crisis since the beginning of the 2000’s. We all believed for a longtime that authority meaning was power over others, titles and positions, things that made authority to be hated. The relationship to work is broken, bruised and lost its importance. At the beginning of the 90’s 60% of the OCDE people were finding work as a fundamental element of their existence. 30 years after they’re only 22%. “Today’s workers do not recognize themselves anymore in the phrase: “work is life”. We need to relearn, through work, to vibrate, emancipate ourselves, create relationships, the OCDE countries are particularly concerned by this. This erosion of authority and leadership in companies is also visible in the civil society. The web and digital have turned everything upside down. “We need to bring back the human and mentorship values, the need to have new generations driven by the dream of achieving new heights. COVID and remote work have massively accelerated the loss of identity and work relationships, creating a false religion of autonomy. Humility is equally essential, knowing how to surround yourself by people more talented and gifted than yourself is paramount.” “I see the world changing especially in the context of Energy transition. There is room for innovation and new ideas. I see many points which were not of interest 10-15 years ago being on the forefront of the industrial landscape now. A lot of new developments are on the table, the key question is how many of these initiatives will be executed and what percentage of these will have a positive and profitable outcome. “As there is a sense of urgency, I also observe much more collaboration across industrial segments. The big question is how the subsidies are distributed, as innovation is something that small companies are well aware of, and unlike large companies, they often have less to lose and a more entrepreneurial, agile decision making, no internal politics, risk-taking culture meaning they are more likely to really push the envelope when it comes to innovation. “New technologies like machine learning, AI and IoT will affect somehow, sooner rather than later, our industry and many others. We already use a lot of data analytics for our decision making, and it’s a tremendous help for an agile, fast-track and also a good decision making.” With regards to the future of your business, where do you see EWES in 2024 and beyond? What are the next steps in your own career? “We will become an important company in the energy transition, mainly on the green hydrogen and ammonia, globally. In the beginning of 2023, we published a patent to produce green hydrogen and ammonia and we are in discussions with multiple organizations globally, for future cooperation on the subject. We are confident that we will finalize some of them very soon, allowing us to start multiple projects around the world. “We are also supporting different initiatives in diverse segments, and all have a common objective develop and deliver efficient, costeffective solutions to existing and future challenges listed by the United Nations. As a company we are really proud of the support we have provided to all our clients and start-ups and of all the projects we have launched. “Mentoring the next generation of leaders and CEOs is an extremely important mission for me. I consider that, after 35 years career at executive level, we have a moral obligation to do this, mainly as a small business, as we realize that many big corporations are absent on this important mission. I had the chance to have a handful of mentors at the beginning of my career, I’d like to do the same for young talent wanting to put their imprint on the future of the industry. “I will also finalize major cooperation agreements on our green hydrogen and green ammonia patent and projects that we have imagined through our readily deliverable feasibility study. This means we will be part of the front runners to finalize some very meaningful operations and projects in the green energy space globally.” Company: EnviroWave Enterprise Solutions Email: constantin.ionesco@ ewesllc.com Web Address: www.ewesllc.com Photo taken by Matthieu Ionesco – Founder of MVISION PRODUCTIONS, Houston
CEO MONTHLY / CHAIRPERSON AWARDS 2023 6 ulti-award-winning Kevin Kerley, Founder of Bethebestyoucanbe Ltd, has 18 years of experience working at an executive level within the hospitality industry and over two decades of entrepreneurial experience founding and growing a multimillion-pound facilities company that he exited through sale in 2019. Kevin explains, “Entrepreneur led businesses are a speciality ranging from £2m to £280m including PLC`s, working on threeto-five-year strategy, scale-up, team building, exit strategy, succession planning, personal development and inner work.” As Kevin moved through promotion to new businesses and roles every two years during his corporate career, he gained valuable experience regarding a wide range of business topics and acquired strong financial acumen. Founding his own business, Kevin enjoyed the rapid growth that eventually led to employing over 500 staff. He was the architect of the unique quality control systems, management structure and exit strategy and finally was put in place as CEO and stepped up to company chairman. Ten years ago, Kevin became Chairman of the Academy for Chief Executives, where he ran two peer-to-peer groups of CEOs and business leaders and started coaching and mentoring. Trained as a Master NLP practitioner, Kevin is consistently embarking on personal development and working with a range of mentors to increase his skill set, self-awareness, and perspectives. Kevin states, “The coaching success is largely down to the chemistry between the coach and the coached. Once an enquiry is received, an initial complimentary oneto-one is set up. Thus, establishing the outcomes that the client was looking for and allowed the parties to discuss if the chemistry and fit are right.” Once the terms, chemistry and fit are agreed upon, the coaching process will begin monthly for as long as there is a requirement, ranging anywhere between 12 months to 3 years and beyond. Regarding his leadership approach, Kevin explains, “I am a firm believer of constant positive reinforcement. I encourage team members to step outside their comfort zone, offering motivation, empowerment and regular reviews of improvement and the learning taken along the way. Moreover, Yorkshire Coach & Mentor of the Year 2023: Kevin Kerley Bethebestyoucanbe Ltd was founded by Kevin Kerley, who was recently recognised within the Chairperson Awards 2023. BTBYCB specialises in coaching and mentoring CEO’s and business leaders through individualised meetings, senior team, and board strategy retreats that help accelerate their growth and business growth. team members are boosted to set goals by visualising techniques to focus the mind and exceed targets.” Overall, the coaching industry has transformed because of Covid-19 and with the popularity of Zoom, Teams, Skype, and other platforms, much of the coaching has moved online. Kevin explains, “This has enabled worldwide coaching, increasing the geographical area that you can operate in, which has resulted in new clients from as far afield as Canada.” However, for Kevin, the biggest challenge faced while running BTBYCB has been the 2008 recession and its economic downturn. Kevin states, “Managing a company and continuing the scale-up objectives and ensuring security for all employees and successfully managing not to have to make redundancies was difficult, hugely challenging but ultimately very satisfying.” With Kevin living a two-centred life with a second home in Spain, he has hosted leadership summits twice a year in Spain, starting in May 2022. These are be run in collaboration with expert leaders over two days. Being in the fortunate position of having enjoyed an interesting and fulfilled career to date, Kevin wishes to continue to be of service to CEOs and business leaders through coaching and nonexecutive roles. Kevin explains, “Helping a business to thrive and leaders to develop is hugely satisfying and personally rewarding.” Furthermore, Kevin is also exploring work with the homeless alongside a local organisation specialising in taking people with multicomplex needs off the streets and reintegrating them into communities. Kevin has now completed over 2600 hours of 121 coaching of CEOs and Executives, and has even written a digital marketing book, Essential Digital Marketing for SMEs, which can be downloaded for free from his website. The future looks incredibly bright for Kevin, his team, and his clients. For Kevin and his team members at BTBYCB, the philosophy is simple, “Great leaders make other great leaders and empower people to achieve greatness beyond their beliefs. The key to success is a lifelong investment in the personal development of self and others.” All of which can be taught, discussed, and achieved by choosing BTBYCB and all its services. Sep23067 M Company Name: Bethebestyoucanbe Ltd Contact Name: Kevin Kerley Web Address: www.bethebestyoucanbe.co Contact Email: [email protected]
CEO MONTHLY / CHAIRPERSON AWARDS 2023 7 Mar22259 Best Retail & Hospitality Design Chairman 2023: Roy Tavenor Set in its pursuit of being an international design global player, RED Design Group has been consistently raising the bar throughout the industry. Following its recent ranking within VMSD Magazine’s global Top 25 Retail Designers, this ambitious collective is now aiming higher than ever before. But just how did it reach this point? Below, we explore this very question, and how Roy Tavenor has played an integral role in elevating RED Design Groups to all new heights. Join us as we venture through Roy’s story, and the part that it plays in his current endeavours. First, let us introduce you to RED Design Group – a collective built around the disciplines of architecture, interior design, and branding. As specialists in the retail and hospitality industries, RED Design Group serves a variety of highly esteemed clients, namely international retailers, shopping malls, hotels, resorts, dining precincts, bars, and restaurants. Throughout all of its collaborations, RED Design Group has managed to demonstrate a synergy with its profession that has led to some of the most revolutionary projects to this date. It recognises the intricacies that partner the design field, and has adapted to be the very best version of itself for the sake of its clients. As one of the Co-Founders of RED Design Group, Roy Tavenor is largely responsible for the international growth of the firm. What was once a small, Australian-centric creative agency quickly became a global entity that found itself operating in China, Indonesia, The UK, Turkey, Philippines, Taiwan, Vietnam, and the like. Through establishing such practise-defining connections, RED Design Group was truly able to flourish in a way it never had before. Roy’s launch of RED in Vietnam was one of the pivotal driving factors – as a result of its rapidly growing market, it provided an offshore presence that would change the structure of RED Design Group forever. This, in conjunction with the expansion of its services, allowed RED Design Group to really start making its mark on a larger scale, Of course, Roy’s background is essential when considering the global growth of RED Design Group. Initially, Roy had started his career as a sales executive and brand manager with Unilever before he eventually made the leap to retail in the late seventies. After spending fifteen years in corporate marketing roles within South Africa, he eventually recognised the potential to set up his own marketing consultancy. It was at this time that Roy, alongside his family, finally settled on the decision to emigrate to Australia, and undertook said venture in 1994. From this point, Roy spent the majority of his time in partnership with Clemenger Advertising Agency, before earning a position as Myer Department Stores’ CMO. However, at the age of 50, Roy earned himself the opportunity to compile all that he had learnt in the ways of branding, retailing, and marketing to forge a new pathway for himself. And thus, RED Design Group was born. Created from a deep understanding of both consumers and branding – a product of Roy’s Unilever FMCG experience – RED Design Group was able to deliver services that practically didn’t exist within the market at the time, granting it a unique edge in an already bustling sector. Through building a methodology that revolves around truly listening to both its clients and their customers, it was able to develop an extensive, personal approach that would gradually redefine the industry as time went on. As a student of retail history and strategy, and an author of a book regarding retail trends, Roy has defined himself as a one of the industry’s thought leaders. He possesses an incomparable eye for the needs of clients on a global scale, and is beyond eager to spread the influence of RED Design Group to every inch of the globe. Whether this manifests through its new, 360° Reality technology, or its plans to invite younger team members into the management of the business, RED Design Group is on the pathway to further greatness – a pathway that has been inspired by the leadership of its visionary Chairman, Roy Tavenor. Contact: Roy Tavenor Company: Red Design Group Web Address: https://www. redgp.com/ Aug23682
CEO MONTHLY / CHAIRPERSON AWARDS 2023 8 Located near Crawley, West Sussex, London Gatwick Airport is the UK’s second largest airport, serving as a hub for a range of short and long-haul point-to-point services. Having joined four years ago as a Data Protection Executive, Holly Jubb is currently the airport’s Data Protection Officer and Co-Chair of its first Business Resource Group: Equal Plane. Here, we dive into her incredible work. For many years, it has been a well-known fact that certain industries lack diversity and female leaders. Unfortunately, this inequality is particularly prevalent in aviation. As a result, a group of women came together to form Equal Plane, aiming to remove barriers, provide support, and promote the talents of women at all levels of the business. Passionate about driving gender equality in her place of work, Holly stood up to take the position of Co-Chair of Equal Plane alongside her colleague Amanda Jakes. Since then, three other Business Resource Groups have been established as part of London Gatwick’s efforts to increase inclusivity and diversity across the business, each focused on racial ethnicity, disability, and Pride, which promotes LGBTQ+ matters. Equal Plane is constantly working to develop initiatives in order to achieve its goals. Together, the team choose a workstream to focus on, using feedback from colleagues across the business whilst taking into account their own priorities and passions. For example, with 20% of London Gatwick’s staff being in the menopausal age bracket, Equal Plane identified that providing proper support to these individuals may minimise their required sick leave, alleviating stress on their team. For this reason, the group ran sessions to educate managers on how to support menopausal staff members, enacted changes to uniforms for when women were suffering from hot flushes, created welfare areas where women could have a break when needed, set up menopause support groups, and more. With a leadership team comprised of individuals in various roles across the business, Equal Plane’s projects are led by the member whose skills and interests are best aligned with the desired outcome. The group strives for its initiatives to have as much visibility in the business as possible, so it leverages newsletters, networking events, and communication channels. In her leadership of Equal Plane, Holly draws on her experience as a Data Protection Officer, which has involved building a brand, bringing people along on the journey, and opening their eyes to ideas that they may have never considered before. She explains, “Bringing people on a DE&I journey is similar. It is essentially a hearts and minds project; you must be collaborative and inclusive. You need to put a lot of work into communicating why this is useful to all staff and why this is nothing they need to be frightened of.” Holly is passionate about the fact that Equal Plane serves as a valuable development opportunity for women across the business, enabling them to gain experience on a leadership team where they can present to executives and run events. As well as this, she hopes for the group to be a safe space for people who have had negative experiences in the past, enabling them to come together and make positive changes for others in similar positions. “I am so proud of the work that Equal Plane has done around the business, making tangible improvements for the women at London Gatwick,” Holly comments. “I will continue to work on it as long as I am at London Gatwick, and I take so much pleasure in knowing that I have had a small impact on making the airport a fantastic place to work for women.” For her excellent work as Co-Chair of Equal Plane, Holly Jubb has been named Aviation Chairperson of the Year in the Chairperson Awards 2023. In the future, she and her team intend to continue their work, with their priorities for 2024 including financial education programmes for women and focussing on the returning from maternity leave experience particularly in support of their female colleagues in the more operational roles in security. Contact Details Contact: Holly Jubb Company: London Gatwick Airport Web Address: www.gatwickairport.com Aviation Chairperson of the Year 2023 (UK): Holly Jubb
CEO MONTHLY / CHAIRPERSON AWARDS 2023 9 CPP Investments Welcomes Designation of Dean Connor as Chairperson of its Board of Directors Canada Pension Plan Investment Board (CPP Investments) is pleased to welcome Dean Connor as Chairperson of its Board of Directors, effective October 27, 2023. Mr. Connor will succeed Heather MunroeBlum, CPP Investments’ Chairperson since 2014, whose final term as Chairperson and Director expires in October. Dr. Munroe-Blum was the third Chairperson of CPP Investments and has served on the Board since 2010. During her tenure, Dr. Munroe-Blum oversaw significant growth and development of the organization, as the CPP Fund grew to $575 billion and remained resilient through global disruptions, including the pandemic. “I thank my fellow Directors – past and present – for the privilege of serving alongside them for the past 12 years,” said Dr. Munroe-Blum. “Since its inception nearly a quarter of a century ago, CPP Investments’ reputation as a Canadian success story has been hard earned. This success was built on the generations of employees, senior leaders and Directors who have all contributed their expertise and commitment as custodians in service of a truly enduring organization. It has been my tremendous privilege to serve as Chairperson of CPP Investments, and to count myself as one of many to contribute to this great institution.” Dean Connor was appointed to the Board in 2021 and has more than four decades of global experience in financial services and executive consulting. Between 2011 and 2021, Mr. Connor served as President & CEO of Sun Life Financial Inc., a leading financial services company. Prior to this, he held senior roles with Sun Life, including Head of Canadian Operations and Chief Operating Officer. Mr. Connor previously had a 28-year tenure with a human resource consulting firm, where he rose to be President for the Americas, a position he held until 2006. Mr. Connor qualified as a Fellow of the Society of Actuaries and the Canadian Institute of Actuaries. He holds an Honours Business Administration degree from the Ivey School of Business at Western University. Mr. Connor currently serves as Chair of the Board for the University Health Network in Toronto and as a member of the Ivey Advisory Board. He was named Canada’s Outstanding CEO of the Year for 2017, Ivey’s Business Leader of the Year for 2018 and one of the Top CEOs in the World for 2019 by the Harvard Business Review. “Dean’s long history of leadership, coupled with his extensive global experience in financial services makes him ideally suited to be an effective Chairperson for CPP Investments,” said Dr. Munroe-Blum. “The Board unanimously agrees that Dean’s excellent reputation as a leader on our Board, his commitment to strong corporate governance and his extensive global experience will allow him to help lead the Board in its oversight duties in an exemplary fashion, helping guide CPP Investments as it grows to become a trilliondollar fund.” “I am deeply honoured to assume the role of Chairperson and to build on Heather’s outstanding leadership,” said Mr. Connor. “I look forward to working closely with my fellow Directors, President & CEO John Graham, and his management team as CPP Investments continues to deliver on its purpose to provide a foundation upon which 21 million contributors and beneficiaries can build their financial security in retirement.” CPP Investments is internationally recognized as a leading example of sound pension plan management. It is independent of the Canada Pension Plan, operates at arm’s length from federal and provincial governments and is guided by an independent, highly qualified, professional Board of Directors. CPP Investments’ Board of Directors comprises 12 independent, qualified professionals including individuals with proven financial ability or relevant work experience as required by the Canada Pension Plan Investment Board Act. Aug23493 Succeeds Dr. Heather Munroe-Blum who retires after nine years as Chairperson
CEO MONTHLY / CHAIRPERSON AWARDS 2023 10 Aug23234 Mar22259 R&T Deposit Solutions Announces Strategic Investment from GTCR and Appointment of Susan Cosgrove as Executive Chairperson With the support of GTCR and Estancia Capital Partners, R&T will continue to deliver innovative solutions to banks, broker-dealers, wealth management firms and other financial institutions R&T Deposit Solutions, a leading provider of tech-enabled liquidity management, deposit funding, and securities-based lending programs, announced today that it has received a significant investment from GTCR, a leading private equity firm. Following the investment, GTCR owns 50% of R&T with the remaining 50% retained by existing shareholders, which include Estancia Capital Partners (“Estancia”) and R&T’s founding team and employees. In conjunction with the investment, Susan Cosgrove will join R&T as Executive Chairperson. Susan will work closely with CEO Joe Jerkovich and other members of management. The appointment of Ms. Cosgrove as Executive Chairperson and the investment by GTCR are intended to further support and sustain the Company’s high rate of growth in its depository network offering while broadening the Company’s product offerings and augmenting technology infrastructure. In particular, the investment will focus on strengthening R&T’s position as a leading, innovative provider of deposit management solutions supported by a client-oriented delivery model and strong leadership and technical capabilities in deposit, liquidity and cash management. As part of the transaction, R&T shareholders are making substantial investments in R&T’s technology, infrastructure, and personnel. Ms. Cosgrove will join R&T effective October 1, 2023 as its Executive Chairperson, working full-time with other members of management to deepen the Company’s client relationships, broaden product offerings and expand technology infrastructure. Ms. Cosgrove is an exceptionally wellrespected leader in financial and securities technology, with over 30 years of experience in clearing, liquidity management and collateral optimization, including more than 20 years at The Depository Trust & Clearing Corporation (DTCC). She most recently served as President, Clearing & Securities Services at DTCC, leading all DTCC clearing and securities services businesses, including Equity Clearing and Settlement, Fixed Income Clearing, Wealth Management Services & Asset Services and Institutional Trade Processing. Previously, Ms. Cosgrove served as the Chief Financial Officer for DTCC, leading the Global Finance, Treasury, Procurement, Real Estate and New Initiative functions. Prior to her CFO role, she held several executive-level positions at DTCC, including General Manager of Settlement and Asset Services and General Manager of DTCC’s Equity and Fixed Income Clearing Services. Ms. Cosgrove also served as a member of DTCC’s Management Committee, Management Risk Committee, Investment Management Committee and as Chair of the Institutional Trade Processing Board of Managers. Ms. Cosgrove commented: “I am honored to have the opportunity to join Joe Jerkovich and the rest of R&T’s management team to build further on the Company’s success. The Company is already known for its exceptional depth and relevance with the industry’s leading banks, broker-dealers, wealth management firms and other financial institutions. This investment provides an opportunity to further enhance R&T’s technology platform and mission-critical operational capabilities, while delivering additional value to customers through product innovation.” Collin Roche, Co-CEO and Managing Director at GTCR, stated: “We are thrilled to partner with Susan Cosgrove, Joe Jerkovich and the broader R&T management team to sustain the growth at R&T and further increase the value delivered to customers. The Company’s leadership has demonstrated an exceptional commitment to growth by prioritizing a client-first focus. We share these values of customer-alignment and innovation, which are critical in serving sophisticated financial institutions with complex needs.” Mr. Roche continued: “We also are very enthusiastic to partner with our friends at Estancia Capital Partners to jointly support management in this next phase of the Company’s journey. GTCR and Estancia share a long-term orientation and are highly aligned in our focus on further investing in growth at R&T.” “Since our initial investment in 2021 we have worked closely with the R&T management team to accelerate the Company’s growth. GTCR’s investment is a testament to the hard work of the R&T team and the value proposition they deliver to customers,” stated Takashi Moriuchi, Co-Founder and Managing Director at Estancia. “Together with GTCR and Susan Cosgrove, our enthusiasm for the Company’s prospects has never been greater.” Mike Hollander, Managing Director at GTCR, continued: “As a result of this new investment, R&T will expand on its leading range of clientfocused solutions for cash management, liquidity, and securities-based lending. We believe that R&T is wellpositioned to accelerate its already strong growth trajectory and we have tremendous conviction in the caliber and capabilities of R&T’s leadership team. Along with our new partners at Estancia, we look forward to supporting Susan, Joe, and the broader R&T management team as they lead the Company into its next phase of growth.” “This investment represents a significant milestone in the growth and evolution of our company,” said Mr. Jerkovich. “Through this new investment, the appointment of Susan and our partnership with GTCR and Estancia, our business will be even better positioned to execute on our strategy and provide clients with innovative solutions and industry-leading technology. I look forward to working closely with Susan, GTCR, and Estancia on this next phase of our journey.” Keefe, Bruyette & Woods, a Stifel Company, served as financial advisor to R&T relative to the transaction and Dechert LLP served as the Company’s and Estancia’s legal counsel. Piper Sandler & Co. and J.P. Morgan Securities LLC served as financial advisors to GTCR and Simpson Thacher & Bartlett LLP served as GTCR’s legal counsel. Aug23682
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