Victory Capital Holdings, Inc. (NASDAQ: VCTR) (“Victory Capital” or
“the Company”) today announced that Michael Policarpo has been
named President, Chief Financial Officer and Chief Administrative
Officer. Current Chief Financial Officer and Head of Strategy,
Terence Sullivan will be leaving the Company effective March 1,
2019, to assume a leadership position at a diversified financial
services firm located closer to his home.
Mr. Policarpo has been with Victory Capital for
14 years and currently serves as Chief Operating Officer. Since
joining the Company, he has held a variety of senior-level
financial and operating roles, including serving as Chief Financial
Officer from 2013 to 2017. In his current role, he is responsible
for day-to-day oversight of the Company’s operating, technology and
administrative functions. In addition, Mr. Policarpo has been
instrumental in sourcing and executing transactions as part of
Victory Capital’s acquisition strategy.
“Mike has played a critical role in Victory
Capital’s growth and evolution over the past several years,” said
David Brown, Chairman and Chief Executive Officer. “His deep
industry experience and broad functional expertise make him
uniquely suited to this expanded role. I am confident that our
clients and our Company will continue to benefit from Mike’s
leadership.
“Terry has been a valued member of our
management team over the past two years and we thank him for his
contributions,” Mr. Brown continued. “For many years prior to
joining Victory Capital, Terry was a trusted advisor to me while
working at another firm. We wish him well in his next career
opportunity and know he will stay a friend of the firm and to me
personally.”
“Victory Capital has accomplished a great deal
during my tenure, and I am proud to have been part of an
exceptionally talented team,” said Mr. Sullivan. “I have the utmost
confidence that the Company is on the right path for future
success. I intend to remain a friend of the firm and the leadership
team and am committed to working with Mike to ensure a smooth
transition.”
About Victory Capital
Victory Capital is a global investment
management firm operating a next-generation, integrated
multi-boutique business model with $52.8 billion in assets under
management as of December 31, 2018.
Victory Capital’s differentiated model is
comprised of nine Investment Franchises, each with an independent
culture and investment approach. Additionally, the Company offers a
rules-based Solutions Platform, featuring the VictoryShares ETF
brand, as well as custom and multi-asset class solutions. The
Company’s Investment Franchises and Solutions Platform are
supported by a centralized distribution, marketing and operational
environment, in which the investment professionals can focus on the
pursuit of investment excellence.
Victory Capital provides institutions, financial
advisors and retirement platforms with a variety of asset classes
and investment vehicles, including separately managed accounts,
collective trusts, mutual funds, ETFs, UCITs and UMA/SMA
vehicles.
For more information, please visit www.vcm.com.
Go to www.victorysharesliterature.com for ETF prospectuses or
www.victoryfundliterature.com for mutual fund prospectuses.
FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. These statements may include, without
limitation, any statements preceded by, followed by or including
words such as “target,” “believe,” “expect,” “aim,” “intend,”
“may,” “anticipate,” “assume,” “budget,” “continue,” “estimate,”
“future,” “objective,” “outlook,” “plan,” “potential,” “predict,”
“project,” “will,” “can have,” “likely,” “should,” “would,” “could”
and other words and terms of similar meaning or the negative
thereof. Such forward-looking statements involve known and unknown
risks, uncertainties and other important factors beyond Victory
Capital’s control, as discussed in Victory Capital’s filings with
the SEC, that could cause Victory Capital’s actual results,
performance or achievements to be materially different from the
expected results, performance or achievements expressed or implied
by such forward-looking statements.
Although it is not possible to identify all such
risks and factors, they include, among others, the following:
reductions in AUM based on investment performance, client
withdrawals, difficult market conditions and other factors; the
nature of the Company’s contracts and investment advisory
agreements; the Company’s ability to maintain historical returns
and sustain its historical growth; the Company’s dependence on
third parties to market its strategies and provide products or
services for the operation of its business; the Company’s ability
to retain key investment professionals or members of its senior
management team; the Company’s reliance on the technology systems
supporting its operations; the Company’s ability to successfully
acquire and integrate new companies; the concentration of the
Company’s investments in long-only small- and mid-cap equity and
U.S. clients; risks and uncertainties associated with non-U.S.
investments; the Company’s efforts to establish and develop new
teams and strategies; the ability of the Company’s investment teams
to identify appropriate investment opportunities; the Company’s
ability to limit employee misconduct; the Company’s ability to meet
the guidelines set by its clients; the Company’s exposure to
potential litigation (including administrative or tax proceedings)
or regulatory actions; the Company’s ability to implement effective
information and cyber security policies, procedures and
capabilities; the Company’s substantial indebtedness; the potential
impairment of the Company’s goodwill and intangible assets;
disruption to the operations of third parties whose functions are
integral to the Company’s ETF platform; the Company’s determination
that Victory Capital is not required to register as an "investment
company" under the 1940 Act; the fluctuation of the Company’s
expenses; the Company’s ability to respond to recent trends in the
investment management industry; the level of regulation on
investment management firms and the Company’s ability to respond to
regulatory developments; the competitiveness of the investment
management industry; the dual class structure of the Company’s
common stock; the level of control over the Company retained by
Crestview GP; the Company’s status as an emerging growth company
and a controlled company; and other risks and factors listed under
"Risk Factors" and elsewhere in the Company’s filings with the
SEC.
Such forward-looking statements are based on
numerous assumptions regarding Victory Capital’s present and future
business strategies and the environment in which it will operate in
the future. Any forward-looking statement made in this press
release speaks only as of the date hereof. Except as required by
law, Victory Capital assumes no obligation to update these
forward-looking statements, or to update the reasons actual results
could differ materially from those anticipated in the
forward-looking statements, even if new information becomes
available in the future.
Investor Relations Website
Victory Capital may use the Investor Relations
section of its website, https://ir.vcm.com, to disclose material
information to investors and the marketplace as a means of
disclosing material, non-public information and for complying with
disclosure obligations under Regulation Fair Disclosure (“Reg
FD”). Victory Capital encourages investors, the media and
other interested parties to visit its investor relations website
regularly.
ContactsInvestors:Lisa Mueller, 310-622-8231
lmueller@finprofiles.com
Media: Tricia Ross, 310-622-8226tross@finprofiles.com
Victory Funds are distributed by Victory Capital
Advisers, Inc. (VCA). VictoryShares ETFs are distributed by
Foreside Fund Services, LLC. Victory Capital Management Inc. (VCM)
is the adviser to VictoryShares ETFs and Victory Funds. VCM and VCA
are affiliated. They are not affiliated with Foreside Fund
Services, LLC.
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