PureFacts Financial Solutions on Tuesday announced the appointment of industry veteran Pete Hess as President.
Rob Madej, the firm’s Founder and CEO, previously held the position of President, which was “carved off as a standalone, which Pete Hess will now hold,” a PureFacts spokesperson told Wealth Solutions Report.
Hess most recently served as Chief Revenue Officer (CRO), Americas, at InvestCloud and, earlier in his career, was CEO of Advent Software.
His hiring comes after PureFacts announced Aug. 1 that a majority investment in it by private equity firm GrowthCurve Capital was completed. Following that investment, PureFacts is investing in new product development, accelerating its deployment of artificial intelligence and delivering data-driven insights into new markets.
Hess was CRO for the Americas at financial services platform provider InvestCloud from June 2023 until April 2024, according to his LinkedIn profile. Before that, he was InvestCloud CRO for North America since 2021.
In March 1994, Hess joined Advent Software and spent 23 years there, including his final year with the firm, after SS&C Technologies acquired it in 2015. He spent three years serving as Advent President and three as its CEO.
Hess also served as CEO of Khoros, a provider of digital customer engagement software, from February 2018 to August 2019, and as an operating partner at private equity firm Welsh, Carson, Anderson & Stowe, which focuses on the technology and healthcare sectors, from April 2020 to April 2024.
“Pete’s a proven business leader and we are grateful and excited that he has chosen to join the PureFacts team,” said Madej.
“His deep understanding of our clients’ business and supporting technology will be pivotal in delivering solutions to our clients, enabling them to accelerate growth and gain a competitive advantage in the marketplace,” added Madej.
As President, Hess will report to Madej and work to leverage PureFacts’ position as a revenue management solution for global wealth and asset management firms, the company said.
Hess will take on day-today leadership of PureFacts operations, with Madej focusing his time on engaging with key clients, partners and prospects.
“Over the course of my career, I’ve seen firsthand the continually evolving technology to support the wealth and asset management industries,” said Hess. “In my view, one critical area that has been too often overlooked is revenue management. PureFacts is leading the charge to change that, and I'm excited to elevate our end-to-end solution, helping clients unlock new revenue streams and uncover new avenues for growth.”
PureFacts was founded in 2010 by Madej. GrowthCurve was founded in 2021 by Sumit Rajpal, formerly Global Co-Head of the Goldman Sachs Merchant Banking Division.
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jberman@wealthsolutionsreport.com.
