MutualFundWire.com: A Boutique's CFO Resigns

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Wednesday, July 3, 2013

A Boutique's CFO Resigns

A San Antonio-based boutique is undergoing some notable changes in its C-suite.

Catherine Rademacher, former chief financial officer at U.S. Global Investors, Inc. [profile] has resigned. She is set to become controller at a local credit union. It was not disclosed which credit union she joined.

U.S. Global Investors promoted former controller Lisa Callicotte to replace Rademacher as CFO.

According to the firm's website, Rademacher joined U.S. Global Investors in April 2004 and was promoted to CFO in August of that year. She was responsible for oversight of all financial statements and related disclosures for internal use and external filings with the appropriate regulatory bodies. She was also responsible for monitoring pertinent GAAP, SEC and FINRA rules for relevant accounting and regulatory matters, according to the company.

In a statement, chief executive Frank Holmes declared "Catherine has made many contributions to U.S. Global during her tenure. I would like to express our appreciation and wish her success in her new position."

Meanwhile, her successor, Callicotte, joined U.S. Global to serve as controller in 2009. Previously, she had worked at Ernst & Young for 12 years, reaching the level of senior manager.

In a statement, Holme said of Callicotte, "Given her extensive knowledge of U.S. Global and the financial industry, we expect a smooth transition. Controller, to CFO."

Here is the press release:

Company Press Release
U.S. Global Investors Announces Resignation of CFO and Promotion of Controller

SAN ANTONIO -- U.S. Global Investors, Inc. (GROW), a boutique registered investment advisory firm specializing in natural resources and emerging markets, announced today the resignation ofCatherine Rademacher as Chief Financial Officer and the promotion ofLisa Callicotte, Controller, to CFO. Catherine will be leaving the company effective July 12, 2013, in order to take a position as a controller with a local credit union.

Lisa Callicotte joined U.S. Global as Controller in 2009 after working atErnst & Young LLP for 12 years, leaving as a senior manager. Lisa graduated from Texas A&M with a Bachelor of Business Administration and a Master of Science in Accounting. She has been a Certified Public Accountant since 1999.

CEO Frank Holmes said, Catherine has made many contributions to U.S. Global during her tenure. I would like to express our appreciation and wish her success in her new position. At the same time, I am pleased to announce that Lisa will be promoted to CFO. Lisa is a highly experienced executive with strong financial expertise and public company accounting. Given her extensive knowledge of U.S. Global and the financial industry, we expect a smooth transition.

About U.S. Global Investors, Inc.

U.S. Global Investors, Inc. (www.usfunds.com) is a registered investment adviser that focuses on profitable niche markets around the world. Headquartered in San Antonio, Texas, the company provides advisory, transfer agency and other services to U.S. Global Investors Funds and other clients.

With an average of $1.56 billion in assets under management in the quarter ended March 31, 2013, U.S. Global Investors manages domestic and offshore funds offering a variety of investment options, from emerging markets to money markets.