Alternative investment technology solutions provider Allvue Systems announced Monday several new executive hires, including Brian Seldess as CFO, Erik DiGiacomo as COO and Joe Plavetic as CHRO.
Allvue formed in September when Vista Equity Partners acquired cloud-based tech solutions provider AltaReturn. Allvue is the combination of AltaReturn and Vista subsidiary Black Mountain Systems. A September announcement touted a combined management team of AltaReturn founder Rey Acosta as CEO and Black Mountain Systems President Kevin MacDonald as COO. But Monday's release announced MacDonald's departure from the company.
In Monday's announcement, the Miami-based company also said it had a successful fourth-quarter earnings performance, credited to its recent signings of more than 20 new companies, including two of the top five U.S. banks.
Seldess, a CPA, officially began his role in December at Allvue, the fifth company for which he’s served as CFO. After nine years on the financial planning and analysis (FP&A) and business development teams at American Express, Seldess stepped into the CFO role at insurance broker Marsh, then served in the same role at IT companies FIS Global and Solera and insurer Amynta Group.
Seldess cites his time spent working to raise capital with private equity firms and large creditors as key components of his preparedness. "With my new role, I’m excited to re-engage these individuals as our customers," he said. "The CFO role is one of continuing education and learning. There are always new accounting [procedures], tax and legal strategies to optimize, and of course [the responsibility to] mentor and grow a great finance organization," he said.
Seldess said he was drawn to Allvue's organic growth, which is "something I sought out in a new company, as it was a priority at my previous job," he told CFO Dive in an email Monday. "With Allvue, we have the momentum to strategically acquire to accelerate growth."
Allvue’s software is designed to meet the needs of both single-strategy and multi-asset firms and administrators. By creating one view of critical data, Allvue’s services look to optimize decision-making and implementation for companies across industries.
Seldress said the CFO position at Allvue will also encompass operational duties, "casting a wider net to cover anything from ensuring we have the right equipment to customer pricing and profitability," he said.
Allvue serves 50 of the top 100 collateralized loan obligation managers, with more than $2.5 trillion of assets and $60 billion of family office assets on its platform, according to Monday's release.