Broadridge Financial Solutions, Inc. (BR), the leading provider of investor communications and technology-driven solutions to banks, broker-dealers, mutual funds and corporate issuers, announced two executive appointments to accelerate growth and transform how Broadridge provides value to its clients.
Tim Gokey, who has served as Corporate Senior Vice President and Chief Corporate Development Officer at Broadridge, has been promoted to Chief Operating Officer, as part of the company's planned succession process. John Hogan will remain President of Broadridge.
Stephen Racioppo, who brings deep financial services experience to Broadridge, has joined the company as its Chief Revenue Officer. In this role, he will focus on increasing sales momentum, building robust solutions offerings, and enhancing Broadridge's marketplace thought leadership.
"Our clients are going through a time of tremendous change and they are increasingly looking to Broadridge to help them transform their operations," said Richard J. Daly, Chief Executive Officer, Broadridge. "In addition to our other leaders, Tim and Steve will help add tremendous value for our clients, shareholders and associates."
Since Mr. Gokey's arrival at Broadridge more than two years ago, he has helped create a more systematic approach to acquisitions and has intensified the company's sales efforts on emerging and acquired products, which contributed to increasing sales in this sector by 80%. Additionally, he has played a key role in building and transforming Broadridge's marketing and sales capabilities. With his new responsibilities, Mr. Gokey will lead Broadridge's Securities Processing Solutions business, Strategy, and Mergers and Acquisitions.
Prior to joining Broadridge, Tim was the President of H&R Block's Retail Tax Services, where he was responsible for $3.7 billion in revenue and over $900 million in pre-tax profit. Before joining H&R Block, he was a partner at McKinsey & Company, where he led the firm's North American Financial Institutions Marketing and Sales practice.
Stephen Racioppo brings three decades of financial services and executive leadership experience to Broadridge. Prior to joining Broadridge, Mr. Racioppo was a Senior Managing Director at Accetor at Accenture where he led the financial services consulting, technology and outsourcing businesses in North America and Asia Pacific. This included responsibility for $1.2 billion in annual revenues, $2 billion in contract value of sales annually, and over 3,000 people. During his career at Accenture, Mr. Racioppo drove sales and opportunities in dozens of countries, led significant change in Accenture's account management process, led the negotiation of many of Accenture's most innovative deals, and successfully managed some of the earliest and largest outsourcing deals.
More recently, he served as Chief Operating Officer at TLO.
Steve will work closely with Peter Benzie, Broadridge's Chief Sales Officer, who has been instrumental in driving growth at Broadridge during the last eight years. Peter will continue to lead the Sales and Marketing Organizations, from now until his previously planned transition in January, 2013.
"Broadridge continues to attract world-class talent that will further catalyze growth," noted Mr. Daly. "Peter's leadership has added real value to our business and I'm confident that Tim and Steve will build upon our successes."