ECI Appoints Jeff Schmidt as CEO to Lead the Company's Next Phase of Growth

BOSTON--(BUSINESS WIRE)--ECI, the leader in managed services and cybersecurity for the global financial services industry, today announced the appointment of Jeff Schmidt as president and CEO. Mr. Schmidt is a leader in managed services, technology, and cybersecurity with a long track record of growing sales, increasing profits, managing complex acquisitions and integrations, building world-class teams, and boosting customer service and retention.

Mr. Schmidt joins ECI as the firm – the leader in public cloud and cybersecurity managed services for the global financial services industry for hedge funds and other complex investment companies – embarks on a new stage of growth to further secure its dominant role in the sector.

“ECI has more than two decades of experience solving its customers’ toughest challenges and helping them adopt new technology in an ever-changing environment,” said Mr. Schmidt. “We will continue to answer the call from our customers and uphold our mission to be the most transformative business partner you will ever engage, as we grow our product offerings and expand our services into adjacent sectors.”

Mr. Schmidt added, “Our growth initiatives come at a time of record customer renewals. We intend to extend our track record as we guide clients through an increasingly uncertain macroeconomic climate.”

Most recently, Mr. Schmidt was the founding CEO of Avertium, a leading provider of cybersecurity services, where he tripled revenues over five years. Earlier, Mr. Schmidt held management positions of increasing responsibility at SQS, All Covered, and British Telecom.

David Andrade, outgoing CEO of ECI, will consult with Jeff and the company during a transition period.

“I personally thank David for nearly two decades of exemplary service, including the past three years as CEO,” said John Cahaly, Executive Chairman of ECI's Board of Directors. “David's contributions have helped build ECI into the powerful firm it is today and underpin the strong relationships and trust we enjoy with our clients and partners. We wish David well in his future endeavors.”

About ECI

ECI is the leading provider of cloud services, cybersecurity, and digital transformation for alternative investment services organizations across the globe. With its unmatched platform of solutions, ECI provides assured business acceleration through technology, partnering with clients to drive innovation. More than 1,000 customers worldwide with over $3 trillion of assets under management put their trust in ECI. For more information, visit www.eci.com.

About H.I.G. Capital

H.I.G. is a leading global alternative assets investment firm with $55 billion of equity capital under management.* Based in Miami, Florida and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the United States, as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/value-added approach:

1. H.I.G.’s equity funds invest in management buyouts, recapitalizations, and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
2. H.I.G.’s debt funds invest in senior, unitranche, and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
3. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
4. H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.

Since its founding in 1993, H.I.G. has invested in and managed more than 400 companies worldwide with combined sales in excess of $52 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.

* Based on total capital commitments managed by H.I.G. Capital and affiliates.