PFPC has tapped Stephen Wynne as its new CEO. Wynne had been the Wilmington, DE-based back-office provider's president since 2005.
Steve Wynne PFPC CEO
Wynne, a 31-year PFPC veteran, takes over as CEO from Timothy Shack, who will remain chairman of the company and chief information officer of Financial Services Group. Shack had served as PFPC's CEO since 2002.
A PFPC spokesman initially declined to comment but later said the change was part of an orderly succession. Shack will continue to "work closely with Wynne and the entire management team on strategic business initiatives, technology advances and client relations," he added
Tim Shack PFPC chairman and chief information officer
Wynne's former position of president will not be filled at this time, according to the spokesman.
Prior to serving as president, Wynne was executive vice president and COO of PFPC Worldwide.
Company Press Release
The PNC Financial Services Group, Inc. (NYSE: PNC) announced today that Stephen M. Wynne has been elected chief executive officer (CEO) of PFPC, PNC’s provider of global investment services. Timothy G. Shack will remain chairman of the PFPC board, working closely with management on strategic business initiatives, technology advances and client relations. Shack will also continue to serve as PNC chief information officer.
A 31-year PFPC veteran, Wynne has been president of PFPC since 2005. As CEO, he will be responsible for leading PFPC’s delivery of information- and transaction-based services to an international client base.
“Throughout his tenure, Steve Wynne has helped guide PFPC’s global expansion and business growth,” said James E. Rohr, chairman and chief executive officer, PNC. “His deep industry expertise and knowledge make him well suited to lead PFPC’s continuing transformation. Through the recent addition of business intelligence services and the opening of new European offices, PFPC is able to provide a broad range of clients with solutions that span the investment continuum.”
Prior to being named president, Wynne served as executive vice president and chief operating officer of PFPC Worldwide Inc. In that role he oversaw and directed securities services, offshore services, the sales division and client relationship management. He is a member of the PFPC Operating Committee and a member of the board of directors of PFPC Worldwide Inc., PFPC Inc., PFPC Trust Company, PFPC Corp. and PFPC International (Ireland) Ltd.
Wynne is coauthor of the college textbook, Fundamentals of Mutual Fund Accounting, taught in colleges and universities in the United States and Europe. As an adjunct professor at Widener University, he teaches an MBA level mutual fund industry class. He is also a member of the Professional and Academic Advisory Board of Widener University’s School of Business Administration and the Board of Accounting and Taxation. In 2005, Wynne was awarded Source
Media’s 1st Place Fund Operations Award for Leadership. He holds a bachelor of science degree in accounting from Widener University.
PFPC, a member of The PNC Financial Services Group, Inc., is a leading provider of processing, technology and business solutions to the global investment industry. PFPC offers subaccounting, transfer agency, managed account, alternative investment, fund accounting, administration and custody services, representing over $2.5 trillion in total assets. Visit us at www.pfpc.com.
The PNC Financial Services Group, Inc. (www.pnc.com) is one of the nation’s largest diversified financial services organizations providing retail and business banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management; asset management and global fund services.
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