SAN FRANCISCO--(BUSINESS WIRE)--PENSCO Trust Company, a leading alternative asset custodian for self-directed IRA investors, announced today the recent appointment of Patrick Hughes as the company’s new leader of business development and institutional sales. With 20 years in financial services, including institutional sales and alternative asset experience, Pat will lead all business development efforts at the company.
“Pat’s work experience couldn’t be a better fit for PENSCO and he will be a valuable asset to our executive management team. He understands the needs of those raising capital – from the perspective of the fund sponsor to the advisor in both private equity and real estate – since his career has covered the full spectrum. His track record even includes success with a fintech company which is essential as we continue to roll out our proprietary Alt-Nav™ technology that streamlines and simplifies the deal-funding process for those who want to invest in non-traded alternative assets using an IRA,” said Kelly Rodriques, Chief Executive Officer of PENSCO.
Prior to joining PENSCO, Pat held sales and leadership roles at Financial Engines, Franklin Templeton Investments and BNY Mellon. Pat has a B.S. in finance from Miami University and an M.B.A. from The Ohio State University. He is a Chartered Financial Analyst (CFA) Charter holder and a member of the CFA Society of San Francisco (CFASF).
“I’m thrilled to join PENSCO at this important inflection point and contribute to the growth of the company as it becomes a trusted partner to investment sponsors and individual investors,” said Patrick Hughes, Senior Vice President of PENSCO. “While people have been using tax-advantaged dollars to invest in alternative assets for decades, the process has been complicated and paper-intensive. PENSCO’s technology solves that problem and allows advisors and capital raisers to more easily connect to the $7.3 trillion sitting in IRAs.”
To learn more visit www.pensco.com.
PENSCO Trust Company has been helping investors use their retirement account funds to invest in real estate, private equity and other non-exchange traded assets since 1989.
As the trusted custodian of over $10 billion in assets on behalf of more than 45,000 clients, PENSCO works with financial institutions, capital raisers and financial advisors, as well as self-directed investors who typically have a point of view about alternative investments based on their own knowledge or expertise and want to put their tax-advantaged retirement dollars to work in these opportunities.