mPower Appoints Andrew Huddart as CEO; Former Barra and Reuters Senior Executive Leads Efforts to Further Expand Customer Value Proposition, Accelerate mPower's Growth and Momentum.Business Editors/High-Tech Writers SAN FRANCISCO--(BUSINESS WIRE)--Oct. 2, 2001 mPower, a leading provider of online investment advice and education, today announced the appointment of Andrew Huddart as chief executive officer, effective immediately. With more than 18 years of public company experience in the global financial information and analytics industry, Huddart will lead mPower's efforts to continue to expand and enhance its customer value proposition and accelerate its strong growth and momentum. Huddart replaces Steve Deschenes, who resigned to pursue other interests but will work with Huddart during a transition period as a senior advisor In some countries, a Senior Advisor is an appointed position by the Head of State to advise on the highest levels of national and government policy. Sometimes a junior position to this is called a National Policy Advisor. . "Andrew Huddart has deep financial industry experience as well as a proven track record in leadership positions at major public companies and consistent value delivery to customers, shareholders and employees," said Peter Gardner, a member of the mPower Board of Directors and a partner in Allegis Capital. "His significant financial domain expertise and operating experience are exactly what mPower needs right now as it drives rapidly to the next level of growth and industry leadership. We are very fortunate to have someone of Andrew's blue chip experience joining our team at this important moment in mPower's history." "I am thrilled to be joining mPower, and look forward to working with the entire team and our board to continue strengthening the value that we bring to customers and individual investors," said Huddart. "mPower is a company that is poised for even greater success, clearly evidenced by the company's continuing enthusiastic support from our corporate investors Noun 1. corporate investor - a company that invests in (acquires control of) other companies company - an institution created to conduct business; "he only invests in large well-established companies"; "he started the company in his garage" . I am very excited about this opportunity to help mPower build upon its proven brand and leadership position in the financial advice industry." Huddart has significant senior level experience in business management and operations, financial service product marketing and strategic business development. Prior to joining mPower, Huddart was President of Barra International and formerly chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Barra, Inc. (Nasdaq:BARZ), a global leader in delivering risk management systems and services to investment management firms worldwide. He also served as president of Barra's Investment Data Products division where he led the successful transformation of The Estimate Directory from a publishing enterprise to an online, Internet-focused business. Previously, Huddart spent 14 years at Reuters (NasdaqNM:RTRSY), the global financial information and news organization, where he worked in a variety of senior capacities in Europe and the U.S. While at Reuters, Huddart was responsible for various fixed income initiatives, including the entry of Reuters into electronic services for the U.S. Municipal Bond market. He also ran Reuters' business on the West Coast and in the Southeast of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . "All of us at mPower would like to thank Steve Deschenes for his years of service and many contributions to the company," said Gardner. "Steve worked with mPower virtually from the beginning, and has been instrumental in the success we've enjoyed to this point. Steve will continue to be a major shareholder and advisor to mPower, and we wish him all the best in new endeavors." Demonstrating its strong forward momentum, mPower has recently expanded its blue chip roster of customers and partners by signing up leading corporations such as The Chicago Trust Company, Lincoln Financial Group, Ohio National Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. and Public Service Enterprise Group (PSEG PSEG Public Service Enterprise Group ). The company has also finalized See finalization. strategic alliance and investor partnerships with Reuters and Standard & Poors. This summer, mPower announced that it had been selected as the financial advice partner for the new CNBC CNBC Center for the Neural Basis of Cognition (artificial intelligence) CNBC Consumer News and Business Channel CNBC Congress of National Black Churches, Inc. on MSN (1) (MicroSoft Network) A family of Internet-based services from Microsoft, which includes a search engine, e-mail (Hotmail), instant messaging (Windows Live Messaging) and a general-purpose portal with news, information and shopping (MSN Directory). Money (http://moneycentral.msn.com/retire/planner.asp), the Internet's new personal financial "mega site." mPower is currently in the process of rolling out its 5th generation online product, further elevating the industry standard for the most comprehensive, effective and user friendly financial advisory service available. About mPower Founded in 1995, mPower Advisors, L.L.C., (http://www.mpower.com), a federally registered investment advisor Registered Investment Advisor (RIA) is a designation obtainable in the United States by an individual who has registered with the U.S. Securities and Exchange Commission or state regulatory agency (where the primary business is situated or multiple States in some cases) in , was the first to offer affordable, online investment advice to defined-contribution plan Defined-Contribution Plan A retirement plan wherein a certain amount or percentage of money is set aside each year for the benefit of the employee. There are restrictions as to when and how you can withdraw these funds without penalties. participants, and remains a leading provider in this field. mPower's website also offers award-winning investment education information to help individual investors learn more about defined contribution plans Defined contribution plan A pension plan whose sponsor is responsible only for making specified contributions into the plan on behalf of qualifying participants. Related: Defined benefit plan , including the 401(k), 457 and 403(b) plans, and Individual Retirement Accounts (IRAs). |
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