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Wednesday, June 05, 2002

Shack Names Team

by: Tony Pennino

On April 23, 2002, Timothy Shack was named president and ceo of PFPC following the retirement of his predecessor, Richard Carnall. Since that appointment, Shack has promoted a number of key personnel in his office as well as hired one executive from outside the firm, a spokesperson with PFPC told the MutualFundWire.com.

Executive vice president Stephen Wynne has been named to the post of coo. Nancy Wolcott, formerly an executive vice president, now holds the post of chief strategic planning officer.

And Michael Harte has been hired for the new position of chief information officer. He comes to PFPC from Citibank N.A. and Citigroup where he served as vice president and executive director of information systems.

According to the spokesperson, Shack and his team are interested in focusing on improving the firm's technological offerings. Further, he is interested in strengthening the ties between PNC and PFPC, a unit of the former. Shack has stated that he plans to ramp up "investing in the technology infrastructure for tomorrow. We plan to continue to invest in this business." The executive continues to serve as chief information officer for PNC. 

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