Phillip Gillespie Joins Ascensus as Chief Legal Officer
Ascensus has proudly announced the appointment of Phillip Gillespie as its new Chief Legal, Risk and Compliance Officer. With over three decades of legal expertise in various sectors, Gillespie brings a wealth of experience to the role, positioning the company for continued success in an ever-changing regulatory landscape.
Leadership and Vision for the Future
Phillip Gillespie will report directly to Ascensus Chair and CEO David Musto. His deep understanding of the legal and compliance challenges facing financial institutions today is a significant asset to the company. Musto expressed his enthusiasm about Gillespie's arrival, emphasizing the evolving legal, risk, and regulatory environment surrounding tax-advantaged savings. Ascensus aims to maintain its leadership in the market, and Gillespie's extensive background will guide the team towards innovative solutions.
Experience and Qualifications
Gillespie's most recent position was as Senior Counsel in the Investment Management and Securities Practice Group of Wilmer Cutler Pickering Hale and Dorr, where he honed skills that are vital to his new role. Previously, he served as Executive Vice President and General Counsel for State Street Global Advisors, managing comprehensive legal affairs for their global operations.
Career Journey
Through his career, Gillespie has also held pivotal legal roles at prominent financial institutions, including Oppenheimer Funds and Merrill Lynch Investment Managers. His experience includes serving as Senior Counsel with the U.S. Securities and Exchange Commission, contributing to a robust understanding of regulatory compliance.
Educational Background
Gillespie earned his Bachelor of Science in Foreign Service from Georgetown University, followed by a Juris Doctor from Tulane Law School. Additionally, he has shared his knowledge as an adjunct professor at Boston University Law School since 2020, specializing in Banking and Financial Services.
Transition of Leadership
Gillespie takes over the role from Joe Dansky, who announced his departure earlier in 2024. Dansky, who played a crucial role in shaping Ascensus' compliance landscape, will remain with the organization until early May to ensure a smooth transition.
About Ascensus
Ascensus is dedicated to providing market-leading technology and services that empower individuals to save for a secure future through tax-advantaged savings solutions. The company excels as a premier savings program service provider, specializing in third-party administration and government savings facilitation.
Through its array of platforms and data-driven insights, Ascensus enhances the success of its partners and clients. Their extensive offerings include retirement plan solutions, college savings programs, and insurance administration all tailored to meet diverse client needs.
As of the end of the last year, Ascensus manages over $863 billion in assets and has a dedicated team of more than 5,400 employees committed to client success.
Frequently Asked Questions
Who is Phillip Gillespie?
Phillip Gillespie is the newly appointed Chief Legal, Risk and Compliance Officer at Ascensus, bringing over 30 years of legal experience in the financial sector.
What was Gillespie's role before joining Ascensus?
Before joining Ascensus, Gillespie served as Senior Counsel at a prestigious law firm, focusing on Investment Management and Securities.
What are Ascensus' main services?
Ascensus offers technology-driven services for retirement plans, college savings programs, and fiduciary services among others.
What did CEO David Musto say about Gillespie?
CEO Musto expressed excitement over Gillespie's appointment, highlighting the importance of his extensive experience in navigating a complex regulatory landscape.
How many employees does Ascensus have?
As of the latest reports, Ascensus employs over 5,400 dedicated associates.
