Advent International — J. Rich Alexander, who previously held a number of leadership positions at PPG Industries Inc. (NYSE: PPG), has jumped to New York private equity Advent. As an operating partner, Alexander will assist in identifying potential investment opportunities in the chemicals and materials sector. Alexander currently serves on the board of directors of Allnex, a supplier of coating resins and additives that Advent acquired from Cytec Industries in April 2013. He previously served as vice president of PPG's industrial coatings division, among other roles. Alexander also served on the board of directors of Calgon Carbon Corp. (NYSE: CCC).
CFO Squad LLC — The New York-based consulting firm hired Michael Armandi as chief operations officer. He will be responsible for managing CFO Squad’s accounting department. Armandi, previously president and CEO of BEE Inc., brings with him over 15 years of accounting, corporate finance and corporate tax experience.
General Atlantic LLC — The New York private equity firm named Jan-Michiel Hessels, former chairman of NYSE Euronext, as a special adviser in Europe. Based in Amsterdam, Hessels is expected to help identify deal opportunities as well as provide strategic support for the firm’s portfolio companies. Hessels currently serves on the board of directors at IntercontinentalExchange Group Inc. (NYSE: ICE) and on the supervisory board at Royal Boskalis Westminster. He served as chairman of the board of NYSE Euronext from 2000 to 2013, where he helped oversee the company’s merger with NYSE Group.
KeyBanc Capital Markets Inc. — Timothy Monnin (pictured) has joined the investment banking arm of Cleveland-based KeyCorp (NYSE: KEY) as a managing director. Monnin, a 25-year banking veteran, specializes in the financial technology sector and will oversee KeyBanc’s efforts in the space. Monnin joins KeyBanc Capital Markets from Jefferies. Previously, he founded the financial technology practice at First Union/Wachovia Securities, now Wells Fargo Securities. Earlier in his career, he specialized in cross-border M&A at CIBC Oppenheimer.
Summit Partners — Stewart Stockdale has joined the Boston private equity firm as an executive partner where he will help source deals. Stockdale specializes in the payments, financial services and consumer products sectors. Most recently, he served as president of global consumer financial services for The Western Union Co. Prior to joining Western Union, he served as president of Simon Brand Ventures, overseeing all marketing and consumer venture businesses within the company. Before that, he held senior positions with Conseco, MasterCard Worldwide Inc. (NYSE: MA), American Express Co. (NYSE: AXP) and Procter & Gamble (NYSE: PG).
Trive Capital — The Dallas private equity firm tapped Dan Lenahan as a vice president. Prior to joining Trive, Lenahan was a vice president at Insight Equity, also in Dallas. While there, he sourced deals in the aerospace and defense sector.
Veritas Financial Partners LLC — Gary Jaggard has been appointed chairman and chief executive of the Boca Raton, Fla.-based lending firm, replacing Mark Sunshine who has stepped down from the position. Jaggard previously served as chief credit officer, and retains that title. Prior to joining Veritas in 2012, Jaggard was managing partner at Comvest Capital. He has over three decades of experience in all aspects of asset-based lending, senior secured financings and asset management.
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