After going from thirty employees to around 170 in five years, Gemini Fund Services decided it was time to add a CEO and tapped Andrew Rogers, who was the company president, to fill that role.
"We've experienced some rapid growth over five years," Rogers said in a phone interview. "And as a result, we needed to have more people in senior management, and we created the CEO title to really be responsible for the Gemini business development, sales, client service and separate operations under the president's role."
Rogers' new role will be "visionary" in nature as he designs the business plan of Gemini, decides what business lines to service, and oversees the execution of sales and markets and the overall running of the company.
Former executive vice president Kevin Wolf will be taking over as president and will manage Gemini's operations in fund accounting, fund administration, legal administration, tax and compliance, technology, and transfer agency.
The company also appointed eight new executives to vice president positions within various departments.
"We congratulate all of our talented executives on their well-deserved promotions, and have every confidence that these appointments will allow us to enhance Gemini's offerings and services as we continue to grow," Rogers commented.
In addition to expanding its executive team, Gemini is also increasing the size of its footprint by relocating its Hauppauge, N.Y., headquarters and its Omaha, Neb., offices to larger facilities within the same cities.
Going forward, Rogers said he expects more hedge fund products to enter the mutual space and says Gemini will be looking to meet that demand.
"With those new types of products come new operational issues and new regulatory issues, and we look forward to the challenge," Rogers said.
Gemini Fund Services partners with independent advisors to provide pooled investment services from mutual funds to collective investment trusts. The firm oversees more than $15 billion in assets.
Mason Braswell writes for On Wall Street.