Wednesday, March 12, 2008
A New Fund Site Stacks Management with Sell-Side Execs
News summary by MFWire's editors
, a freshly launched website providing information on mutual funds, ETFs and other investment vehicles, has tapped a president. Gregory Webster
, a former HSBC
executive, will be in charge of product development, acquisitions and licensing deals at Fund.com. Webster was previously president and CEO of the North American retail and wealth management units of HSBC. Earlier, he was president of Guardian Life subsidiary Park Avenue Securities.
Webster is the second sell-side executive hired for Fund.com's management team, the first being Ray Lang
, who became CEO in January. Lang was formerly with BNY Capital Markets.
Company Press Release
Fund.com Inc. (www.fund.com) (OTCBB: FNDM), an Institutional and Consumer financial services company focused on the $22.6 trillion investment fund market, announced today the appointment of Gregory H. Webster as President, effective immediately. Mr. Webster has been in the wealth management and securities business for over twenty years, including as President and CEO of the North American retail brokerage and wealth management divisions of HSBC PLC, one of the largest banks in the world, where he was responsible for approximately $32.5 billion of client assets. He also served on the Board of Directors of HSBC Asset Management (Americas).
Mr. Webster's appointment comes after the January appointment of Ray Lang as CEO, formerly with BNY Capital Markets, a subsidiary of Bank of New York, the $1 trillion U.S. bank.
"Fund.com shareholders will benefit from Greg's deep asset management experience and his accumulated professional knowledge about all aspects of funds and fund management," said Ray Lang, CEO of Fund.com. "With Greg's contributions, Fund.com will establish itself as the authoritative online source for information about the growing complex fund management sector."
"I am thrilled to be joining such an innovative and visionary business," said Mr. Webster. "I believe my experience in the financial community will not only enhance Fund.com's business vision, but make it actionable and a leader in the financial services sector."
In his new role, Mr. Webster will oversee product development, acquisitions, licensing deals and partnerships along with the overall business development of Fund.com Inc.
Prior to joining HSBC, Mr. Webster served as the President of Park Avenue Securities, LLC, a wholly owned subsidiary Guardian Life Insurance of America, where he was responsible for securities operations of an investment firm with over 3,422 registered representatives and 135 NASD branches in 50 states. Prior to this he was the Chief Operating Officer of NYLIFE Securities, Inc., a subsidiary of New York Life Insurance Company, an organization comprised of 100 NASD branch locations and over 7,600 registered representatives.
Fund.com Inc. (www.fund.com) (OTCBB: FNDM) is a financial services information publisher focused on the $22.6 trillion investment fund market. As an online media company, Fund.com is establishing a destination website of personal finance channels, including mutual funds, hedge funds, money market funds, exchange traded funds (ETFs), closed end funds, commodity funds and other types of pooled investment vehicles. Our mission is to provide investment information on both traditional and leading edge products to a new generation of investors. We seek to generate pay-for-performance online advertising revenue by connecting motivated investors with financial product providers.
For product providers (e.g., ETF issuers), we offer asset-based licensing agreements for our Index content, including the proprietary EQUITIES® Hedge Fund Index, earning recurring fees as a percentage of Indexed assets under management. Our online lead generation is highly complementary to our licensing business by assisting the growth of index-linked assets of our clients. Our affiliation with a print platform established in 1951 assists in making us an authoritative source of investment information and an effective online advertiser.
Safe Harbor Statement
This news release contains various forward-looking statements which consist of any statement other than a recitation of historical fact and can be identified by the use of forward-looking terminology such as "may," "expect," "anticipate," "estimate," "plan," "continue" or the negative thereof or other variations thereon or comparable terminology. The reader is cautioned that all forward-looking statements are speculative, and there are certain risks and uncertainties that could cause actual events or results to differ from those referred to in such forward-looking statements.
We caution that these statements are further qualified by important factors that could cause actual results to differ materially from those contained in the forward-looking statements, that these forward-looking statements are necessarily speculative, and there are certain risks and uncertainties that could cause actual events or results to differ materially from those referred to in such forward-looking statements. These risks and uncertainties include those set forth from time to time in our filings with the Securities and Exchange Commission. We are under no obligation, and do not undertake any duty, to update these forward-looking statements at any time.
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