Gracie Point Announces Appointment of Joseph Sevely as Chief Operating Officer and Chief Financial Officer
NEW YORK, Feb. 4, 2020 -- Gracie Point Holdings, LLC ("Gracie Point"), a leading global provider of life insurance premium finance, announced today the appointment of Joseph Sevely as Chief Operating Officer and Chief Financial Officer. Mr. Sevely will oversee the finance, risk management, operations, technology, legal, compliance and human resource functions.
Harish Raghavan, Chairman of Gracie Point said, "We are delighted to welcome Joe to the Gracie Point team. Gracie recently raised additional capital to accelerate our growth strategy, including adding distribution partners globally and building a suite of flexible financing products that align borrower and carrier needs. Joe's experience and expertise in managing control functions within large financial institutions will be invaluable to support this expansion."
Mr. Sevely has over 30 years experience in financial management, risk and new business initiatives across a wide range of financial services organizations. Most recently he was Chief Financial Officer of Aspen Group, Inc., an education technology holding company listed on Nasdaq's Global Markets. Previously he was Chief Financial Officer of Cutwater Asset Management, a fixed income asset management firm that was sold to BNY Mellon. Earlier in his career he was Treasurer and Head of Market Risk at MBIA Inc. and worked at major Wall Street firms. He was Controller of Merrill Lynch's Global Fixed Income Sales and Trading Division and also led teams responsible for derivative and structured finance product development at Bankers Trust. He also has taught graduate courses in Risk Management and Finance at Columbia University and New York University, respectively.
Mr. Sevely has a bachelor's degree in mathematics from the Massachusetts Institute of Technology and an MBA in Finance from the Booth School of Business at the University of Chicago.
About Gracie Point:
Gracie Point is a leading provider of life insurance premium finance, providing a consultative approach, combining insurance, financing and loan servicing expertise to the advisory marketplace. It serves affluent, high net worth and ultra-high net worth clients by working with agents and brokers. Based on its deep knowledge of the market, Gracie Point is able to quickly determine the optimal financing structure and can commit faster than most competitors. Because premium finance is Gracie Point's only business, it can work more effectively with insurance agents without any concern of competition with the agents' client relationships. Gracie Point's structure avoids many of the undesirable features in competitive products, such as collateral calls, limited advance rates and uncertainty about ongoing funding commitments.
With offices in New York, Toronto and Hong Kong, Gracie Point is able to support client needs throughout North America and Asia.
SOURCE Gracie Point LLC