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The Feeling Is Demutual

Phoenix Cos. nabs CFO from fellow insurer Trenwick. Also: Central Bancorp moves finance chief to CIO, Convey Software names CFO as part of senior m...
David KatzMarch 27, 2002

>>Phoenix Cos. stays within insurance fold in choice of new CFO, Coleman Ross… Life insurer, high-end wealth manager Phoenix plucks finance chief from Trenwick Group, Bermuda-based property-catastrophe insurer, reinsurer… Hartford, Conn.-based Phoenix issued IPO last year… Covets Ross’s experience with demutualizations and fledgling public companies… Ross, 57, was stalwart of PricewaterhouseCoopers insurance practice for 34 years before heading to Trenwick, where he’s spent the past two years… At Trenwick, made $517,000 in fiscal 2000… He replaces David Searfoss, who was named executive vice president, financial strategy of Phoenix…

In Bermuda, Trenwick brought back Alan Hunte, company’s finance chief for 17 years… Hunte had been nudged into chief accounting officer role when Ross came aboard… Trenwick’s share price was at $8.98 late Tuesday, off about a nickel from Monday’s close… Phoenix shares, however, had risen two bits, to $19.44… For fiscal 2001, Trenwick’s revenues totaled $1.03 billion; Phoenix’s, $1.80 billion…

>>Moving former finance chief Paul Feeley to chief information officer, Central Bancorp puts Michael Devlin into CFO role… Devlin was finance consultant to banks… From 1973 to 1997, was Arthur Andersen accountant, partner for 11 years… Feeley, 54, now responsible for Somerville, Mass., bank holding company’s information, operations, and tech systems… In 2001, took in $151,000 in pay… Company hired him as finance chief, treasurer, senior vice president in 1997… Devlin picks up all three titles…

How Startup CFO Grew Food Company 50% YoY

How Startup CFO Grew Food Company 50% YoY

This case study of JonnyPops’ success highlights the unusual financial and operational strategies that enabled rapid expansion into a crowded and highly competitive frozen treat market. 

On Tuesday, when moves were announced, Central Bancorp said it completed fourth stock buyback… Board authorized repurchase of up to 5 percent of shares, or total of 84,458 at average cost of $23.78 per share… Shares, not traded since March 15 when they closed at $28.49, were at $28.19 yesterday afternoon…

>>Closely-held Convey Software named Tom Twietmeyer as its new finance chief… Company also appointed new vice president of product development and product strategist in broad senior management makeover… Twietmeyer most recently served as the CFO of Centerbeam Inc., where he built a senior finance, legal, HR, IT, and operations team, raised $190 million in preferred equity and debt financing… Recently provided M&A consulting to Verisign Inc. and spent 10 years at AutoDesk Inc., holding various financial, operational, and general management posts… New job involves overseeing day-to-day financial operations, close work with Convey’s venture partners…