Aequitas Capital has appointed Scott Gillis, a member of its Advisory Board and former American International Group (AIG) executive, as Partner and Chief Operating Officer.
In his new role, Gillis will oversee the firm's accounting, financial planning and analysis, capital markets, legal, and information technology/business operations groups. This streamlining and reorganisation of the Aequitas management structure will enable CEO Bob Jesenik, who also serves as Chief Investment Officer, to focus on business development and investment opportunities.
"Our firm has significantly expanded in size and the breadth of service offerings since its establishment more than 20 years ago. It is a testament to that growth that we have been able to attract veteran financial services professionals to our senior ranks," says Jesenik. "Scott personifies integrity and leadership, and his experience with driving acquisitions and company growth will help us continue to meet the evolving needs of our investors, portfolio companies and strategic partners. I look forward to working with Scott to further strengthen our organisation's leadership team and pursue the multitude of growth and development opportunities available to us."
As part of the management team expansion, Brian Rice, Executive Vice President and President of Aequitas Wealth Management, will expand his responsibilities with oversight of the firm's marketing, human resources and client service operations.
"Over the past two decades, Aequitas has built a platform capable of not only providing financial services management expertise, technology infrastructure, and support networks, but also structuring and sourcing innovative capital solutions," says Gillis. "I am pleased to join the talented management team at Aequitas and look forward to helping position the firm to experience further growth and success."
Gillis joined the Aequitas Capital Advisory Board in 2014. In his role as Chief Financial Officer of AIG Retirement Services, Gillis was on the boards of dozens of AIG subsidiaries, leading the growth of five annuity insurers and six business groups to USD240 billion in assets. Before joining AIG, Gillis was Vice President and Controller of SunAmerica Life Companies, where he played a key role in driving the firm's growth (30 percent annually for 15 years). When SunAmerica Life was acquired by AIG in 1993, it had grown to USD8.5 billion in revenue and $50 billion in assets. After the merger, Gillis helped oversee financial and organisational development for AIG's insurance, annuities, asset management, and broker-dealer businesses as a member of those divisions' internal boards. He has played leading roles in more than a dozen acquisitions during his career.
In addition, Edward Texeria, another AIG veteran, has joined Aequitas as Senior Vice President and Chief Accounting Officer. He reports to Olaf Janke, Executive Vice President and Chief Financial Officer. Prior to Aequitas, Texeria served as Senior Vice President of AIG Life and Retirement, where he was responsible for both internal and external reporting and worked with Gillis. Texeria spent 13 years at AIG, and before that, he spent 13 years at Ernst & Young in Los Angeles.
"I have known and worked with Scott in his capacity as a member of our Advisory Board, and I am delighted he has expanded his role with Aequitas," says William C McCormick, Senior Advisor and Founding Member of the Aequitas Capital Advisory Board. "His expertise will be vital for Aequitas as it continues to develop in the coming years."