Knoch will also take a seat on Docupace’s board of directors, where we will be joined by Rob Anderson, Brad Bernstein and Adam Hallquist from FTV Capital.
FTV Capital, founded in 1998, now has about $4 billion in assets under management, and considers it a “growth” equities firm, according to Robert Anderson, partner. Unlike traditional private equity which focuses on buyouts, financial engineering and cost-cutting to generate returns, FTV focuses on accelerating the growth of companies that are innovative and already growing.
“There’s a digital transformation occurring across all of financial services,” said Anderson. “Historically, there’s been a much greater emphasis on the front-office digital capabilities like user experience and client engagement, but it’s our feeling that digitization is still in the early innings in wealth management and that the growing focus now is on automating back-office operations.”
Former Docupace CEO Mark Tapling will remain during an interim period to ensure seamless transition of leadership, while Docupace founder Michael Pinsker will continue to serve as president.