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M&I Spinoff Names New CFO

Metavante taps a Rockwell Automation veteran to become its new finance chief.
Stephen TaubJuly 3, 2007

Timothy C. Oliver has been named senior executive vice president and chief financial officer of Metavante Corp., effective July 23. Metavante is the financial technology subsidiary of Marshall & Ilsley, a financial services company that is being split into separate, independent publicly-traded company later this year. Currently, Oliver serves as vice president and treasurer of Rockwell Automation.

“As we prepare to become a separately traded public company focused on continued growth, we will benefit from having a chief financial officer who brings large public company experience to Metavante,” said company president and chief executive officer Frank R. Martire. Oliver will replace Michael D. Hayford, Metavante’s chief operating officer who has continued to serve as finance chief since he was promoted to COO in 2006.

Since May 2004, Oliver has been responsible for the global treasury, contracts, pricing and investor relations functions at Rockwell Automation. Prior to that, he was vice president for investor relations and financial planning at Raytheon Co. He also spent five years at Honeywell—formerly AlliedSignal—and served as director of finance for the $1.6 billion aviation aftermarket business there. Oliver also held bond trading and investment banking positions at Bear Stearns & Co. and at Kidder Peabody & Co.

Metavante delivers banking and payments technologies to over 8,600 financial services firms and businesses worldwide. On April 3, Marshall & Ilsley announced its plans to spin off Metavante into an independent publicly traded company. Private equity firm Warburg Pincus has agreed to invest $625 million to acquire 25 percent of Metavante. Marshall & Ilsley shareholders will own 75 percent of the shares of Metavante.

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