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Middle market private equity firm Genstar Capital Management has appointed Tom Hutton and Mitch Vernick to the company’s strategic advisory board.
Both will work closely with the firm's financial services segment to identify and evaluate new investment opportunities and actively support current and future investments.
J Ryan Clark, a managing director at Genstar, says: "We are very pleased that Tom and Mitch have agreed to join our strategic advisory board. We have been working informally with each of them for the past five years and these appointments are in recognition of their contributions and our confidence that they will help us identify quality, and proprietary, acquisition targets, as well as help build those businesses."
Hutton has held a number of leadership positions in the information technology and financial services industries, particularly in property and casualty insurance, and has been involved in a number of private equity backed re-insurance formations. He most recently served as chief executive officer of White Mountains Re and prior to that served as president and chief executive officer of Risk Management Solutions from its founding in 1990 to its sale in 2000.
Vernick is an experienced financial services executive with expertise in specialty and commercial finance who is familiar to Genstar through his work as a board director at two of the firm's portfolio companies. He is former president and chief operating officer of Transamerica Finance Corporation, a commercial finance business, and former president and CEO of Transamerica Commercial Finance. He also served in senior roles managing groups within Heller Financial for 10 years, and served as vice chairman.
Genstar's strategic advisory board provides portfolio companies with operating experience and insight. The committee is composed of influential senior executives who are current or former leaders of major corporations who work directly with Genstar and its portfolio companies – as board members and advisors – to develop strategic plans, expand market opportunities, source acquisitions and recruit executives and board members.
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