SOURCE: NorthStar Financial Services Group, LLC

FiComm Partners

March 21, 2016 09:00 ET

NorthStar Financial Services Group, LLC Appoints Jon Baum as Executive Chairman

OMAHA, NE--(Marketwired - March 21, 2016) -

  • Baum was previously Chairman and CEO of The Dreyfus Corporation, a subsidiary of BNY Mellon.
  • NorthStar services over $380 billion in assets under management and administration and is currently home to over 740 employees.

NorthStar Financial Services Group, LLC (NorthStar), an Omaha, Nebraska based holding company for several subsidiaries which offer unique services within the financial industry, including asset management, pooled investment solutions, portfolio accounting, fund distribution and compliance, printing and marketing services, has appointed Jon Baum as its new Executive Chairman. In this role, Baum will be responsible for setting strategy and focus to help facilitate the continued growth of NorthStar and its subsidiaries.

Baum was previously Chairman and CEO of The Dreyfus Corporation, a subsidiary of BNY Mellon. He served on the Executive Committee of BNY Mellon Asset Management, and on the Operating Committee of BNY Mellon Corporation. While there, he also held the role of Chairman and CEO of Mellon Bank Securities Corporation, and was a key driver in the major reemergence of the corporation into the retail mutual fund industry.

Prior to working at Dreyfus, Baum was President and COO at Scudder Investments, a division of Deutsche Asset Management, after spending nearly 20 years at UBS Financial Services, where he led sales, professional development, advisor recruiting and human capital.

"NorthStar's highest priority is serving and anticipating the needs of independent advisors," said Eric Clarke, CEO of Orion Advisor Services, LLC, a NorthStar subsidiary. "Jon's experience, passion and capabilities will enhance our leadership team and help us grow NorthStar meaningfully. We're thrilled to have him on board and are certain that our entire team will benefit from his forward-thinking leadership." 

NorthStar services over $380 billion in assets under management and administration, and is currently home to over 740 employees. In April 2015, the company announced its acquisition by TA Associates, a leading global growth private equity firm with substantial experience in the investment management and wealth management industries.

"Jon is a highly talented executive with a superb record of success with working in complex environments," said M. Roy Burns, a Managing Director of TA Associates. "We believe his addition to the team will enable NorthStar to accelerate the achievement of its vision and operating and financial goals. NorthStar is empowering the growth of the independent advisor and Jon's appointment is an important example of the increased intellectual capital investment by NorthStar."

The acquisition by TA Associates has further provided NorthStar with the resources and leverage to allow expanded support for financial advisor clients and access to capital for acquisitions.

"The entire industry is in the throes of a seismic digital shift, where access to information is more important than ever before," said Baum. "To succeed, companies need to capture market share by breaking down outdated business development methods and transforming them to suit rapidly changing times. NorthStar understands these dynamics, and in turn is paving the way for companies in this industry to adapt their models -- whether in asset management, technology or fund servicing -- into forward-thinking solutions that fit the end user. I'm honored and excited to be a part of that."

Baum's appointment will go into immediate effect. For more information about NorthStar and its subsidiaries, visit http://www.nstar-financial.com/.

For media inquiries, contact pr@ficommpartners.com.

About NorthStar Financial Services Group, LLC

NorthStar Financial Services Group, LLC is a holding company for several subsidiaries, including CLS Investments, LLC, one of the largest ETF strategists in the United States; The Gemini Companies, a single point of access for investment companies to multiple solutions for pooled investment products; and Orion Advisor Services, LLC, which is the nation's largest privately-held portfolio accounting service provider for financial advisors. Collectively, these business units offer unique services within the financial industry, including asset management, pooled investment solutions, portfolio accounting, fund distribution and compliance, and printing and marketing services. NorthStar helps investment advisors enhance client service, increase operational efficiencies and expand their businesses. NorthStar is headquartered in Omaha, Nebraska, with additional offices in Hauppauge, New York; Chicago, Illinois; Mill Creek, Washington; San Rafael, California; and Scottsdale, Arizona. For more information, please visit www.nstar-financial.com

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