Press Releases
Paige W. Pierce Elected President and Chief Executive Officer for RW Smith
NEWS RELEASE
August 15, 2004
The board of directors of RW Smith has elected Paige W. Pierce president and chief executive officer, effective August 15, 2004. At present, Pierce is chief operating officer of RW Smith.
Paige W. Pierce has over 20 years of senior level investment industry experience with major corporate entities and start-ups in the north American capital markets. Pierce is an experienced, innovative and visionary hands-on strategic planner. Pierce has extensive business and product development, administrative, operational, strategic partner development experience both domestically and most recently internationally. She possesses exceptional presentation and spokesperson skills.
Dick Smith, chairman and retiring chief executive officer, said: "A great deal of thought has been given to R. W. Smith's long-term strategic direction and we're strengthening our company in every way necessary to be a significant force in the investment industry. Paige is the best person to lead us forward. Her vision, familiarity with our goals and industry expertise will enable RW Smith to exploit our strengths, and add to our roster of achievements. We've accomplished quite a bit this past year and our fundamentals are strong. With Paige at the helm, I have no doubt our influence will extend with the enormous opportunities ahead as she implements her vision of interdealer brokering of the future with competence, high energy and intellectual precision.
"Complementing Paige's considerable business skills are equally fundamental personal virtues - integrity, a steady outlook and a refreshing ability to keep her sense of humor during challenging periods. With this promotion, all business units will have benefit of Paige's skill and leadership."
"I am thrilled to have the opportunity to lead the RW Smith team. After serving as chief operating officer for many years, it's apparent to me that the company has tremendous assets heading into a period of both significant challenge and potential. My mission for the coming years is clear - expand our market presence, build our technology, and continue to meet and exceed our dealer client’s expectations all within the context of a business that is financially strong. I'm looking forward to working with each and every one of RW Smith's talented employees to make this company great," said Paige Pierce.
Pierce became COO of RW Smith in February, 2002. Before that, she served as CFO of Agincourt, Ltd, a Bermuda-based NASD member broker-dealer that designs structured securities products for the fixed income institutional market in the United States and abroad. Prior to this, she worked for ABN/AMRO (Exchange National Bank, LaSalle National Bank) in a variety of operational officer positions and Ross Sinclaire, a Cincinnati-based broker-dealer, as chief financial officer.
Pierce was a founding principal and served as the chief financial and operating officer for RW Smith from 1985 through 1989. Her vast array of responsibilities included financial control, operational and compliance management, systems development, human resource director, business development and production (trading and sales).
Pierce serves as a member of the Securities Industry and Financial Markets Association Municipal Executive Committee, Brokers Advisory Committee, Municipal Broker’s Broker Committee, Municipal IDB Working Group, Small Firms Advisory Committee and Municipal Operations Committee. Pierce co-founded the Women in the Investment Industry PSA committee and is a member of Young Presidents’ Organization (YPO).