Ultimus Fund Solutions, a provider of services to mutual funds and investment advisers, has promoted Gary Tenkman to President of the firm.
Tenkman will continue to report to Bob Dorsey (pictured), and Mark Seger, the Co-Founders and Co-CEO’s of Ultimus. Seger previously held the role of President and will now share CEO duties with Dorsey.
“Gary has been a great addition to our executive management team since he joined the firm and I am pleased to have him in this new role,” says Dorsey. “I appreciate the vision that Gary has brought to the company thus far and look forward to pursuing our continued growth.”
As President of Ultimus, Tenkman will focus on maintaining the firm’s service oriented culture, strengthening client relationships, growing the existing business, and overseeing the day-to-day operations of the firm. Tenkman most recently served as the firm’s COO and has been with the firm since 2014. During his tenure, the firm has more than doubled in size with over 170 employees, 90 clients and in excess of USD60 billion in assets under administration, making it one of the largest independent providers in the US mutual fund industry. Tenkman has over 25 years of financial services industry experience, including most recently in various leadership positions at a global custodian bank in their fund services division.
“Ultimus is a leader in the US mutual fund servicing space and I’m excited to not only be part of a great team but to also continue to help us grow and provide value to our clients as we move forward,” says Tenkman. “We possess an incredible depth of industry knowledge at Ultimus and are well positioned for additional growth.”
In 2017, Ultimus hired industry veterans Bill Tomko, Director of Fund Servicing, and Dina Tantra, Director of Fund Administration and Compliance, adding to its executive team and providing additional bench strength. Both Tomko and Tantra will continue to report to Tenkman in his new role.
Seger says: “As we have grown, Bob and I wanted to make sure we kept an emphasis on our client centric model. Putting Gary in this position absolutely reinforces that. It also allows both Bob and I to devote more time to long-term strategic initiatives.”
Dorsey says, “We are excited about the future at Ultimus and are glad to have Gary’s leadership as we move forward.”