Pete Hess, ex-CEO of Advent, joins PureFacts as president to lead the company's next growth phase
PureFacts Financial Solutions, a Toronto-based provider of revenue management solutions for the wealth and asset management industry, has appointed Pete Hess as its new president.
Hess, formerly chief revenue officer for the Americas at InvestCloud, brings extensive experience in the financial technology sector, including a 23-year tenure at Advent Software, where he served as President and CEO until its acquisition by SS&C Technologies in 2015.
He has also held leadership roles at Welsh, Carson, Anderson & Stowe, a US-based private equity firm focused on technology and healthcare.
More recently, he held the title of chief revenue officer for the Americas at InvestCloud, a global financial technology provider.
According to PureFacts founder and CEO Robert Madej, “[He is] a proven business leader, and we are grateful and excited that he has chosen to join the PureFacts team.” Madej emphasizes that Hess’s understanding of both client needs and the supporting technology is crucial to the company’s mission.
Hess will oversee daily operations at PureFacts, reporting directly to Madej, who will focus on building relationships with clients, partners, and potential investors.
As president, Hess’s mandate includes leveraging PureFacts’ position in revenue management solutions for wealth and asset managers, helping the company grow its global footprint.
Reflecting on his new position, Hess noted that, over the course of his career, he has observed the continually evolving technology in the wealth and asset management industries. According to Hess, revenue management has often been overlooked within these sectors.
He expressed that PureFacts is addressing this gap by focusing on solutions that allow clients to optimize revenue management and explore growth opportunities.
This leadership shift aligns with PureFacts’ recent majority investment from GrowthCurve Capital, a private equity firm focused on technology-driven companies in fields like data and machine learning.
The investment from GrowthCurve Capital supports PureFacts in enhancing its PureRevenue platform, an end-to-end revenue lifecycle solution.
With the new funds, PureFacts plans to boost its product development, particularly through artificial intelligence, aiming to improve data-driven insights and scalability for wealth and asset managers.
