Jack McDonald, former executive vice president of Conifer Securities LLC, has been promoted to President and CEO replacing Phil Stapleton, founder of the firm, who will become chairman.
McDonald, who joined the firm in 2005, will manage all aspects of the firm’s operations and continue to build out the infrastructure in anticipation of further growth. Stapleton will remain deeply involved in the business and focus primarily on the firm’s expansion plans.
“Jack has the respect and support of everyone at Conifer and I am confident that he will successfully lead the firm forward,” says Stapleton.
“I am honoured to be leading our organization at such an exciting time in our evolution. We enjoyed solid growth in 2007 and I am looking forward to our prospects in 2008 and beyond,” adds McDonald.
Conifer recently opened an outsource trading desk in New York and have exceeded $5 billion in assets under administration.
“Given the dynamic and demanding marketplace we serve, we see tremendous opportunity to provide valuable, client-focused solutions to our partners. We are particularly bullish on our administration and trading functions and will continue to allocate resources to these efforts,” says McDonald.