Velocity Technology Solutions Inc. said Tuesday that Marc Vassanelli was named EVP and CFO, effective since May 31.
Most recently, Vassanelli was interim CFO of the Towergate Group. CORRECTION: Vassanelli was hired away by Velocity and never served as Towergate’s interim CFO, a spokesman said. Velocity is a portfolio company of Silver Lake Sumeru.
CHARLOTTE, NC–(Marketwired – Jun 16, 2015) – Velocity Technology Solutions, Inc. has named Marc Vassanelli as Executive Vice President and Chief Financial Officer, effective since May 31, 2015. In this role, Mr. Vassanelli has responsibility for the financial well-being of the company. He will accomplish this by managing the financial planning and analysis, controller, treasury and tax functions within finance. Mr. Vassanelli will also be integral in preparing growth plans.
“Marc brings great experience and perspective to our company,” said Velocity Technology Solutions President and CEO, Tom Bruno. “Over the last few years we have grown substantially and as we continue along that trajectory, Marc’s guidance and leadership will enable us to implement scalable financial systems and processes necessary to meet those plans.”
Prior to this appointment, Mr. Vassanelli was engaged by Carlyle, Hellman & Friedman, and TowerBrook to advise on potential acquisitions of business services technology companies. Before these advisory roles, Marc was Chief Financial Officer for ConvergeOne Holdings; Equiniti Group; and for the EMEA region of Marsh Inc. (NYSE: MMC).
Mr. Vassanelli’s previous roles include strategy development, operational and financial roles in private equity, consulting and banking, working across many industries. He received an MBA in Finance and Strategic Management from The Wharton School of the University of Pennsylvania and a B.S. in Marketing, Magna Cum Laude, from the University of Maryland.
About Velocity Technology Solutions
Velocity Technology Solutions (www.VelocityCloud.com) is a global leader in enterprise and business application hosting services, which are fully managed and protected within a virtual private cloud. The company’s business is focused in three areas: Cloud Hosting / Managed Services; Professional Services / Consulting; and Big Data / Data Analytics. Velocity’s expertise managing software 24/7, combined with its proprietary infrastructure design and cloud management platform, support the availability, security and control over software. Velocity is headquartered in Charlotte, NC with facilities in North America, Europe and Asia. Velocity is a portfolio company of Silver Lake Sumeru, a global leader in private equity investments in growth-oriented technology and technology-enabled companies. For additional information on the firm and its entire portfolio, visit www.silverlake.com.