executives said the Denver firm has grown so much over the last five years that they are now putting in place a new corporate structure. The newly unveiled structure aligns the duties of the executive team with the current business lines and the overall strategic direction of the firm. ALPS president Ned Burke
, who has been with the firm since 1991, now serves as CEO of ALPS Holdings
"Since we have grown substantially over the last five years and expanded our product offerings, it made sense to add a somewhat traditional corporate structure to the holding company and subsidiaries while still maintaining our unique culture," Burke said.
takes the title of president of ALPS Fund Services
and Tom Carter
serves as president of ALPS Distributors
and ALPS Advisers
. May and Carter were previously managing directors.
ALPS offers asset servicing, management and gathering services. It has roughly $40 billion in assets under administration and provides distribution services to more than $240 billion in client assets.
Company Press Release
DENVER, Nov 07, 2008 (BUSINESS WIRE) -- ALPS Holdings, Inc., today announced a new corporate structure that aligns the responsibilities of the executive team with the current business lines and the overall strategic direction of the company.
Three primary business lines have been established under ALPS Holdings, Inc. (AHI)
-- Asset Gathering - ALPS Distributors, Inc.(ADI)
-- Asset Management - ALPS Advisers, Inc.(AAI)
-- Asset Servicing - ALPS Fund Services, Inc.(AFS)
"Since we have grown substantially over the last five years and expanded our product offerings, it made sense to add a somewhat traditional corporate structure to the holding company and subsidiaries while still maintaining our unique culture," said Ned Burke, Chief Executive Officer of ALPS Holdings, Inc. "We fully expect all of our major business lines to grow significantly over the next several years," he added.
Our New Roles and Focus
-- Ned Burke -- CEO, ALPS Holdings
Ned Burke will act as CEO of AHI, using his 24 years of industry experience to guide the strategic direction of the overall organization. He will focus on achieving the company's financial goals including future strategic acquisitions. Ned has been with ALPS for 17 years joining the company in 1991 after beginning his career with Fidelity Investments and Pioneer Funds Distributors.
-- Jeremy May -- President, ALPS Fund Services
Jeremy May has been named President of AFS. Jeremy will be responsible for the strategic direction and growth of AFS as well as continuing AFS leadership position as the top ranked mutual fund service provider in North America. Jeremy will also be responsible for the growth initiatives and ongoing operations of the recently created hedge fund servicing division of AFS, ALPS Price Meadows (APM). APM is also an industry-leading service provider for alternative investment funds. Jeremy has been with ALPS for 13 years, joining the company from Deloitte in 1995.
-- Tom Carter -- President, ALPS Distributors and ALPS Advisers
Tom Carter has been named President of AAI and ADI. Tom will dedicate his attention to product development and asset gathering for the adviser and other ALPS distribution partners. The focus of the adviser and distributor will continue to be in closed-end fund development, exchange-traded fund management and development, alternative investment strategies, and the growth of assets under management in all areas. Under Tom's direction, AAI and ADI will continue to look for opportunities and partnerships to deliver unique investment products to the financial adviser community. Tom has been with ALPS for 14 years, specializing in the ETF business 13 of those years and joined the company from Deloitte in 1994.
About ALPS Holdings, Inc. (TM)
ALPS Holdings, Inc. is a Denver-based company that provides a comprehensive suite of asset servicing, asset management and asset gathering solutions to the investment management industry. ALPS has approximately $40 billion in assets under administration and provides distribution services to over $240 billion in client assets. For more information, visit www.alpsinc.com.
ALPS is a registered trademark or trademark of ALPS Holdings, Inc.(TM) in the United States and other countries. All other brand names, product names or trademarks belong to their respective holders.
SOURCE: ALPS Holdings, Inc.
Armie Margaret Lee
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