Former Symmetricom President and CEO to Help Guide Expansion of the Growing Financial Services Provider
SAN JOSE, CA May 25, 2010 – NES Financial (NESF), a leading provider of financial services solutions for the banking industry and Fortune 500 companies, has elected technology executive Tom Steipp to serve on its Board of Directors. Naming of Steipp as a director is part of an ongoing expansion for the company, which has seen strong revenue and profit growth over the past year.
“As NES Financial continues to see record revenues and record profits, we are expanding our Board of Directors by bringing in industry leaders with varied experience and proven track records to guide the company in its ongoing growth,” said Michael Halloran, president and CEO of NES Financial. “Tom Steipp brings solid and successful experience leading public technology firms through periods of expansion, and we welcome him to NES Financial to provide guidance as we grow to the next level.”
“NES Financial is unmatched in their ability to deliver solutions for companies tasked with managing escrowed monies, and their solutions bring three core attributes – transparency, security and compliance – to an industry that needs solid answers to rebuild public trust,” said Steipp. “NES Financial is ahead of the curve in creating solutions that bring unmatched consumer protection. I look forward to working with the company to continue its success going forward.”
Tom Steipp has substantial executive management and marketing experience in technology firms, most recently serving as president and CEO of Symmetricom, Inc., (Nasdaq:SYMM) from 1998 to 2009. Before joining Symmetricom, Steipp served as vice president and general manager of broadband data networks at Scientific-Atlanta. Previously he spent 17 years at Hewlett-Packard, holding a number of marketing and management positions in their disk storage, networking and federal government divisions. Steipp spent eight years in the United States Air Force as an electrical engineer and a T-38 instructor pilot.
NES Financial has demonstrated impressive growth over the last 18 months, setting record revenues and profits in a down market. Over the course of 2009 and into 2010, NESF completed the acquisition of J.P. Chase Morgan Property Exchange Inc. (JPEX), forged strategic partnerships, added key clients, boosted marketing and sales efforts, and expanded market share in key industry sectors that require administration of complex escrows and trusts. The privately owned company is based in San Jose with regional offices throughout the United States.
About NES Financial
NES Financial (NESF) is the nation’s leading provider of secure, transparent and compliant financial administration and 1031 exchange solutions for Fortune 500 companies, financial institutions and law firms. Combining proprietary state-of-the-art technology and outstanding client services with subject matter expertise in trusts, escrows and 1031 exchanges, NESF delivers flexible and scalable solutions that safely process over 70 billion dollars each year.