Published:
SMS Vanacore Announces New Name & Appoints CEO
Outside Investment to Expand Capabilities & Service
SMS Vanacore, a global leader in the field of
unclaimed property and owner locations services, announced today that it
has changed its name to Venio, and has appointed Michael O'Donnell to the
newly created position of CEO.
The changes are driven in part by a recent financial investment in the
company by DFW Capital Partners, a private equity investor that seeks
opportunities to develop companies demonstrating high-growth potential; in
particular those that utilize technology in a proprietary or unique way.
"The investment in our company at this time is significant," notes Nick
Nichols, Executive Vice President. "It reinforces the confidence we have in
our business model and strategy, which remains centered on providing our
clients with the best search results and compliance services."
Michael O'Donnell, a business executive with over 20 years of experience
managing companies in the professional services and IT industries, has been
chosen to guide Venio's strategic vision and mission during this expansion
phase. Mr. O'Donnell has a proven record of successfully leading privately
held companies through mergers and acquisitions, and managing investment
capital for continued long-term growth. Venio's existing management team
will remain unchanged.
The new name provides an opportunity to build a unified brand, as a recent
transaction brought together SMS Vanacore and Jaisan, the leader in owner
location services for the Banking industry. Venio is taken from the Latin
"invenio," which means to come upon, find, discover.
While Venio builds on its strength in the unclaimed property marketplace
and further expands its vertical industry market expertise, clients will
experience the same dedicated, personal level of service and support they
have come to expect.
More information on Venio's unclaimed property services and support can be
found at www.venio.com
About Venio
Venio finds owners of unclaimed assets and abandoned property for banks,
brokerage firms, mutual funds, insurance companies and publicly held
companies. Its search/location, reporting and risk management services
ensure compliance with SEC and state regulations, reduce expenses and
improve customer/asset retention. With over 40 years of experience, Venio
has recovered and restored hundreds of millions of dollars in unclaimed
assets and abandoned property for clients.
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Tags: ,FinancialServices:Commercial and InvestmentBanking, FinancialServices:Insurance, FinancialServices:InvestmentServicesandTrading, ProfessionalServices:InvestorRelations, RealEstateandConstruction:CommercialRealEstate, ,NY,NEW YORK, NY