#USA #Newton #Ascensus #Phillip Gillespie #Legal Compliance

Phillip Gillespie Appointed as Chief Legal, Risk, and Compliance Officer at Ascensus

In a significant leadership move, Ascensus has announced the addition of Phillip Gillespie as the company’s new Chief Legal, Risk, and Compliance Officer. This strategic appointment is aimed at navigating the rapidly changing legal and regulatory landscape affecting tax-advantaged savings. Gillespie will report directly to David Musto, the Chair and CEO of Ascensus, from the company's Newton, MA office.

Background of Phillip Gillespie

Gillespie brings over 30 years of diverse legal experience, ranging from regulatory oversight to in-house counsel roles. Before joining Ascensus, he served as Senior Counsel at Wilmer Cutler Pickering Hale and Dorr in Boston, where he specialized in the Investment Management and Securities sector. His previous roles include Executive Vice President and General Counsel at State Street Global Advisors, where he oversaw global legal affairs for the asset management firm of State Street Corporation.

His extensive background further includes leadership positions at Oppenheimer Funds and Merrill Lynch Investment Managers. Gillespie also has experience as Senior Counsel at the U.S. Securities and Exchange Commission. His academic qualifications are robust, with a Bachelor of Science in Foreign Services from Georgetown University and a Juris Doctor degree from Tulane Law School. Notably, he has also been an adjunct professor at Boston University Law School, focusing on Banking and Financial Services.

Vision for Ascensus’ Future

David Musto expressed enthusiasm regarding Gillespie's appointment, stating, "In an era where the legal, risk, and regulatory environments are evolving rapidly, we are delighted to have Phil join our team." Musto emphasized that Gillespie’s experience as a general counsel and commercial business partner will be instrumental for Ascensus. As the company continues to grow and innovate, focusing on technology and client experience while leveraging AI, Gillespie's expertise will be vital in maintaining Ascensus’ position as a market leader.

Transition of Leadership

Phillip Gillespie takes over the role previously held by Joe Dansky, who announced his departure from Ascensus earlier this year. Dansky is set to remain with the company until early May to ensure a smooth transition of leadership. This change comes at a time when Ascensus is poised for growth and innovation in the area of tax-advantaged savings.

About Ascensus

With over $863 billion in assets under administration and more than 5,400 employees as of December 31, 2024, Ascensus is a premier provider of savings program services, third-party administration, and government savings facilitation. The firm is committed to helping millions of people save for a secure future through its comprehensive retirement plan solutions and unique partnerships, including Newport and FuturePlan.

As Ascensus continues its mission to enhance the growth and success of its partners and clients, the leadership of Phillip Gillespie promises to bring a wealth of experience and a strong commitment to compliance and risk management in a complex financial landscape.

For additional information about Ascensus and its offerings, please visit ascensus.com and newportgroup.com.