Genstar Capital hires two to strategic advisory board

Genstar Capital Management has hired Tom Hutton and Mitch Vernick to its Strategic Advisory Board. Hutton and Vernick will work closely with the firm’s financial services group to identify investment opportunities. Hutton formerly worked as chief executive officer of White Mountains Re, while Vernick was formerly president and chief operating officer of Transamerica Finance Corporation.

Press Release

Genstar Capital Management, LLC, a middle market private equity firm that focuses on investments in selected segments of the insurance and financial services, software, healthcare, and industrial technology industries, announced today that Tom Hutton and Mitch Vernick have joined Genstar Capital’s Strategic Advisory Board. They will work closely with the firm’s financial services segment to identify and evaluate new investment opportunities and actively support current and future investments.

J. Ryan Clark, a Managing Director at Genstar, said, “We are very pleased that Tom and Mitch have agreed to join our Strategic Advisory Board. We have been working informally with each of them for the past five years and these appointments are in recognition of their contributions and our confidence that they will help us identify quality, and proprietary, acquisition targets, as well as help build those businesses.”

Mr. Hutton has held a number of leadership positions in the information technology and financial services industries, particularly in Property and Casualty insurance, and has been involved in a number of private equity backed re-insurance formations. He most recently served as Chief Executive Officer of White Mountains Re and prior to that served as President and Chief Executive Officer of Risk Management Solutions, Inc. from its founding in 1990 to its sale in 2000. Mr. Hutton received an MBA with Distinction from Harvard Business School and MS and BA Degrees from Stanford University.

Mr. Vernick is an experienced financial services executive with expertise in specialty and commercial finance who is familiar to Genstar through his work as a Board director at two of the firm’s portfolio companies. He is former President and Chief Operating Officer of Transamerica Finance Corporation, a commercial finance business, and former President and CEO of Transamerica Commercial Finance. He also served in senior roles managing groups within Heller Financial for 10 years, and served as Vice Chairman. Mr. Vernick holds an M.B.A. from the Wharton School at the University of Pennsylvania and a M.A. in Public Policy and a B.A. degree, with high distinction from the University of Michigan.

Genstar’s Strategic Advisory Board provides portfolio companies with a rich source of operating experience and strategic insight. The committee is composed of influential senior executives who are current or former leaders of major corporations who work directly with Genstar and its portfolio companies – as Board members and advisors – to develop strategic plans, expand market opportunities, source acquisitions and recruit executives and board members. The SAB includes executives who have served in senior capacities with such leading companies as Abbott Laboratories, Alliant Insurance, Andersen Consulting, CNA Insurance Companies, ICOS, ITT Corporation, Oracle, Ingersoll Rand, Marshall & Swift, MedImmune, Inc., Pharmacia & Upjohn, Siebel Systems, USI Holdings, Vertafore, and WellPoint.

About Genstar Capital Management, LLC
Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for more than 20 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of operating executives and strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar has more than $3 billion of committed capital under management and targets investments focused on selected sectors within the insurance and financial services, software, healthcare, and industrial technology industries.

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