First Coverage Inc. (www.firstcoverage.com), a web-based software company delivering industry-leading coverage optimization solutions to the institutional investment community, announced today the appointment of Roland Beaulieu as President. First Coverage also announced that under the leadership of Mr. Beaulieu, it will be opening a U.S.-based office in the Boston-area during the first quarter of 2007.
Mr. Beaulieu brings more than 25 years of experience in the financial services industry to First Coverage. He was responsible for the daily operations of Corporate Communications Broadcast Network (CCBN), serving as Chief Operating Officer prior to the company’s sale to Thomson Financial. He was also the head of CCBN’s Institutional Management Group, which successfully launched “StreetEvents,” a corporate reporting tool which became the defacto standard of Wall Street institutions.
Before his tenure at CCBN, Mr. Beaulieu spent 13 years in a variety of positions at Thomson Financial. He served as President and Chief Executive Officer of the Trading Service Division, and played a key role as Senior Vice President and Chief Operating Officer in building the technology behind Thomson’s First Call.
Most recently, Mr. Beaulieu was an Entrepreneur-in-Residence at GrandBanks Capital (GBC), and formerly the Chief Executive Officer of NewRiver, Inc. In November 2006, GBC (www.grandbankscapital.com) along with JLA Ventures (www.jlaventures.com) invested U.S. $5-million in the Series A financing of First Coverage. In conjunction with the funding announcement, First Coverage also announced the appointment of Jeff Parker, founding Venture Partner of GBC, and former CEO of both CCBN and Thomson Financial, as Chairman of the Board of Directors of First Coverage.
“Based on my experience within the institutional investment industry, I clearly see the massive opportunity in front of First Coverage,” said Beaulieu. “I am excited to be joining a team with such an innovative technology. This opportunity enables me to use the experiences I gained at StreetEvents and First Call and to leverage those skills to launch the company’s U.S.-based operations. First Coverage is going to make it easier for investment professionals to do their jobs efficiently, manage their institutional sell-side relationships, and deliver the highest returns possible to their investors.”
“Roland is the ideal person to join the First Coverage team and I am thrilled to welcome him to the company,” said Randy Cass, CEO and Co-Founder of First Coverage. “The wealth of knowledge he brings from his experiences at CCBN and Thomson Financial, as well as his extraordinary track record in day-to-day operations are assets that will help drive First Coverage forward as we continue to grow as the market leader in coverage optimization solutions.”
First Coverage Inc.
First Coverage Inc. is a software company delivering industry-leading coverage optimization solutions to the institutional investment community.With its innovative web application, First Coverage optimizes the relationship between investment professionals and their sell-side coverage. Coverage optimization results in measurably higher returns for the buy-side and their investors, enhanced visibility of the value generated by institutional salespeople and accountability in the commission allocation process.
