DENVER--(BUSINESS WIRE)--Trust Company of America (TCA), the only independent RIA custodian offering fully integrated real-time technology, consultative services and back-office support built exclusively for RIAs, announced today that its Board of Directors has unanimously approved a succession plan for executive management of the company.
Effective June 5, 2015, Josh Pace will be promoted to the position of Chief Executive Officer, replacing current CEO David Barry, who is leaving TCA to take the leadership position at a public company in the hospitality, travel and recreation industry. Prior to becoming CEO, Barry served on the TCA Board of Directors, and he is returning to the Board as an Independent Director.
Pace, who led TCA’s sales team and business development for the past three years as the company’s Chief Business Officer, has more than 20 years of experience in the growth and leadership of a diverse set of financial, service, and technology companies. At TCA, he expanded relationships with approximately 80 new and existing TCA advisors and helped grow the firm’s assets under custody to record levels.
Prior to TCA, he served as the chief financial officer of several public and private entities, including Openwave, a publicly traded company based in Redwood, Calif., with $450 million in revenues and 3,000 employees. As an executive leader, Pace has a proven track record of developing key partnerships, new initiatives, and business success through a consultative approach to solving key issues facing these businesses.
“We are fortunate to have a deep bench of talented people at Trust Company of America, and Josh has done an incredible job helping to grow the company,” said Stephen A. Finn, Chairman and Founder of Trust Company of America. “With Josh assuming the role of CEO, the continuity of the leadership team remains intact with no disruption to the day-to-day operations and strategic direction of the company.”
Finn noted that under Barry’s leadership, TCA had made critical upgrades to TCA’s technology infrastructure, including moving its technology to a fully mobile-based platform that is accessible anywhere. Barry also drove an increased focus on service and culture, practice management, client-facing issues and modernizing the company’s brand.
“Before accepting the role of CEO in 2011, David spent his entire career in travel and hospitality,” Finn said. “He brought the service philosophy he developed to TCA and made a tremendous impact on its culture. An opportunity to return to his roots in the travel and hospitality world presented itself, and he will become the leader of a company executing an exciting global growth strategy.”
About Trust Company of America
Since 1972, Trust Company of America (TCA) has been a champion of Registered Investment Advisors, dedicated to helping them realize their full potential. TCA is the only independent RIA custodian offering fully integrated real-time technology, consultative services and back office support built exclusively for RIAs. Headquartered in Colorado, TCA is a partner to advisors, providing the technology and support they need to manage their practices and clients’ financial futures. See more at: http://www.trustamerica.com.