Press Releases
Karl A. Pierce Appointed Chief Financial Officer and Treasurer
NEWS RELEASE
July 1, 2007
RW Smith today announced that Karl A. Pierce has has been appointed to the position of Chief Financial Officer and Treasurer. He will be responsible for directing all aspects of the company’s financial management.
As Chief Financial Officer and Treasurer, Pierce will assume responsibility for leading all aspects of RW Smith's financial activities, including accounting and reporting, strategic planning and analysis, treasury, tax, audit, and investor relations. Mr. Pierce brings over twenty-five years of financial industry leadership experience in private and public corporations.
He joined the Company in 2006 as an Executive Vice President and Chief Compliance Officer and reports directly to Chief Executive Officer Paige Pierce. "Karl’s contributions to the executive management team over the past year have been insightful and extremely valuable in the way of cost cutting and global cash management. It became apparent as the year progressed that he was the ideal candidate for the position of Chief Financial Officer. Karl is a proven business leader, with extensive financial, operating and general management experience," said Pierce. "He has an outstanding track record of delivering great results for customers, employees and shareholders throughout his career. Further, his considerable financial industry management experience will be a huge advantage to RW Smith as we look to execute our short and long range strategic business plan" Pierce stated.
Prior to his position as CCO with RW Smith, most recently, Pierce served as Vice President of Short Term Trading and Underwriting at Seattle-Northwest Securities Corporation, where he was responsible for establishing a short term presence for the firm, including product development and institutional training programs. Before that, he was a Vice President of Trading and Underwriting at Zions Bank, Utah, and worked for RW Smith as a valued member of the trading desk specializing in high yield and Intermountain West municipal securities.
He held numerous management positions during a 7-year career at LaSalle National Bank & Brokerage, Chicago, where he was responsible for capital market product development, trading, financial control, business development, marketing, operational management and compliance program management.
“Karl will work closely with business and administrative units throughout the Company. His strong background in trading, underwriting, financial control, operations and compliance will enable us to enhance the Company’s competitive position, and better serve our dealer clients, shareholders and our valued employees,” Pierce noted.