LAWRENCE E. DAVANZO APPOINTED PRESIDENT OF WILSHIRE ASSOCIATES
Dennis A. Tito to Continue as Chairman and Chief Executive Officer
SANTA MONICA, CA, October 19, 2007 -- Wilshire Associates Incorporated, a leading
global financial services firm, today announced that Lawrence E. Davanzo has been
appointed president of the firm. Dennis A. Tito, chairman and chief executive officer,
will continue to serve in those capacities.
"I have never been more excited about Wilshire Associates and its potential than right at
this moment," noted Tito. "However, I also realize that I have a responsibility to our
shareholders, employees and clients to ensure that the company's leadership is
thoughtfully planned, protected and provided for in the future. As a founder of the firm
and its CEO for the past 32 years, I strongly believe that creating the position of President is the best decision I can make to assure the prosperous future of the firm."
In addition to appointing Davanzo as president, Tito also announced that he has selected
Davanzo to take on the responsibility of CEO in the event that something happens to him.
"Dennis and I share a vision that builds upon Wilshire's many years of serving the
investment community," Davanzo said. "My most immediate priority is to further
develop our asset management activities by focusing on the non-traditional investment
solutions that our clients and the marketplace have told us they need."
Davanzo has a long and successful history with the firm. He first joined Wilshire
Associates in 1977 and founded the Consulting business unit in the early 1980's. From
1977 to 1991 he helped build the firm during a time when revenues grew significantly.
He left Wilshire Associates in 1991 to found his own successful company, Asset Strategy
Consulting, which he merged with Plan Sponsor Exchange in 2000 to form InvestorForce,
an internet technology platform serving institutional investors. He rejoined Wilshire in
October 2004 and, since January 2005, has served Wilshire Associates as Senior
Managing Director leading Wilshire Funds Management.
"I have known Larry professionally and personally for three decades. He is
knowledgeable and pragmatic," Tito said. "He knows how to lead and has demonstrated
that many times during the course of his career. Larry also knows how to encourage and
build leaders for our firm. He is aligned with my values and priorities for Wilshire
Associates and compliments my strengths and management style extremely well," Tito
concluded.
According to Tito, asset management will be Davanzo's focused responsibility. Julia
Bonafede, senior managing director, will continue to lead Wilshire Consulting. Dan
Allen, Jeff Ennis and Ovidio Iglesias will continue to lead Wilshire Private
Markets. Wilshire Analytics division heads Hilarie Green, David Hall, Cecilia Loo and
Peter Matheos will continue in their leadership positions. Robert Kuberek will continue
as Chief Financial Officer with oversight of Finance and Technology.
About Wilshire Associates
Wilshire Associates is a leading global services firm that includes Wilshire Analytics,
Wilshire Funds Management, Wilshire Consulting, and Wilshire Private Markets. The
firm was founded in 1972, revolutionizing the industry by pioneering the application of
investment analytics and research to investment management for the institutional
marketplace. Wilshire also is credited with helping to develop the field of quantitative
investment analysis that uses mathematical tools to analyze market risks. All other
business units evolved from Wilshire's strong analytics foundation.
Wilshire developed the index now known as the Dow Jones Wilshire 5000 Composite
Indexsm, the first asset/liability models for pension funds, the first U.S. equity style
metrics and many other "firsts" as the firm grew to nearly 350 employees serving the
investment needs of institutional and high net worth clients around the world.
Headquartered in Santa Monica, CA, Wilshire provides services to clients in more than
20 countries representing in excess of 600 organizations with assets totaling more than
$12.5 trillion. With nine offices on four continents, Wilshire Associates and its affiliates are dedicated to providing clients with the highest quality counsel, products and services.
Please visit www.wilshire.com for more information.
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