CIO does not always mean "chief investment officer." In the tech world the "i" typically stands for "information." By that measure FOLIOfn is staying true to its tech roots and Virginia location.

The firm has expanded the ranks of its executives with its appointment of John Paolucci to the new position of chief information officer. Paolucci, who once worked in technology development and implementation at Fidelity Investments, anchors the venture's position as technology provider.

"He has a demonstrated track record of growing the information systems organizations in financial services companies to meet customer needs, and we all look forward to having him as part of our team," said FOLIOfn chief technology officer Jerry Grochow.

FOLIOfn sought the assistance of headhunters Heidrick & Struggles in the hiring. Folio is still on the hunt for a Chief Marketing Officer.

"We have been talking to a number of very talented, very senior marketing professionals about this role," said a Folio spokeswoman. The Internet constitutes a focus of this search as well. She added, "The people we have been talking to have a combination of financial services and Internet experience aimed at the consumer and institutional markets." 

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