Industry Information Technology Headquarters New York City Type of business Private | Key people William Thomas
(CEO) Founded 2000 | |
Products Information Technology Services Website www.innovestsystems.com | ||
Innovest Systems, LLC is a privately held firm that provides technology-driven services to trust and wealth management companies, global custodians, investment advisors and others that control, account for, and report on assets held in trust. Innovest delivers its services in a software as a service (SaaS) model.
History
Innovest was founded in November, 2000 by CEO William Thomas, who had previously been a managing director at Deutsche Bank and, prior to its acquisition by Deutsche Bank, Bankers Trust Company. Thomas’ last assignment at Deutsche Bank was as chief executive of The WM Company, the bank’s wholly owned fund accounting and investment performance subsidiary based in Edinburgh, Scotland. Headquartered in New York City, Innovest has offices in Colorado, North Carolina and California.
Financial services firms as well as smaller independent trust and wealth management providers have implemented Innovest Systems’ technology platform. As of 2011, approximately $300 billion (market value) of client assets were being administered using Innovest’s technology platform.
Thomas McInerney, a general partner at Welsh, Carson, Anderson & Stowe, was an original investor in the firm. Innovest is currently an affiliate of Bluff Point Associates, a private-equity firm co-founded by Mr. McInerney and Paula McInerney and based in Westport, CT. Paula McInerney, formerly chief operating officer of Oppenheimer Funds, Inc., is Bluff Point Associates’ president.