Ultimus Fund Solutions – an independent provider of fund administration services to investment advisers, fund managers, and institutional investors – recently appointed Teresa “Terry” Connors as executive vice president, fund services. Connors has more than 27 years of experience in financial services and will oversee the fund accounting, financial administration, tax and portfolio compliance teams, also collaborating closely with the Ultimus leadership team.
Prior to Ultimus, Connors was senior vice president at State Street Corporation from 2012 to 2024 and has built a career fostering innovation, improving operational efficiencies, and driving positive client outcomes within the asset management sector. Her full tenure at State Street began in 2007.
“Teresa’s extensive experience and leadership in fund administration will be invaluable to our team,” said Gary Tenkman, chief executive officer of Ultimus Fund Solutions. “We are excited to welcome Teresa and leverage her expertise to drive operational excellence and support the strategic growth of the company’s fund services platform. Teresa’s proven track record of driving process improvements and implementing technology solutions aligns perfectly with our strategic goals.”
According to the company, Connors brings a wealth of knowledge to Ultimus. She has experience in cross-functional fund administration and operational leadership, managing complex projects including launching new products and services and driving transformation to achieve positive client outcomes and operational efficiencies. In addition, Ultimus believes that Connors’ ability to optimize processes and implement cutting-edge technology will bolster its position as a trusted partner in the financial services sector.
Prior to State Street, Connors was unit director, alternative investment accounting at Investors Bank & Trust from 1997 to 2007. She began her career at Deloitte & Touche in 1993. Connors earned her Bachelor of Business Administration from the Isenberg School of Management at the University of Massachusetts Amherst.
Earlier this spring, private equity firms Stone Point Capital LLC and GTCR signed a definitive agreement to invest in Ultimus Fund Solutions. In conjunction with funds managed by Stone Point, GTCR Fund XIV will reinvest in the business, providing full liquidity to GTCR Fund XII. Tenkman will continue to operate the business and maintain substantial equity ownership.
Headquartered in Cincinnati, Ohio, Ultimus Fund Solutions employs more than 1,100 seasoned accountants, attorneys, paralegals, application developers, fund administrators, compliance specialists, and others. It provides more than 450 clients with various fund accounting, fund administration, legal administration, transfer agency, and compliance services across more than 2,100 funds holding over $600 billion in assets.
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