NEW YORK | March 06, 2019–AST, a full-service, tech-enabled ownership data management and advisory firm, today announced the launch of a new business to meet the varied and complex needs of private companies. AST Private Company Solutions™ (PCS) is developing innovative and next-generation technology, products and services to support the entire lifecycle of a private company, including when the next phase involves going public.
AST Private Company Solutions will introduce a robust offering for various types of private companies, from venture-backed to private equity-owned, including capitalization and waterfall tracking, employee stock plan administration, and related transactional and liquidity support. The company will be headquartered in Silicon Valley, one of the U.S.’s primary epicenters for start-up activity, and will launch its solution later this year.
“There are millions of private companies in North America and around the world, and in this market environment, many are staying private longer. Historically, they have had to work with multiple providers for the critical services that keep their businesses running smoothly, but we can give them the convenience and stability of an integrated, AST-backed platform,” said Marty Flanigan, President and Chief Executive Officer of AST.
He added, “AST already serves some 400 private companies, and we are making a significant commitment to expanding in this space. We’re going to do it right, and that includes bringing in leaders who have spent their careers building solutions for the private market.”
AST has appointed Carine Schneider, FGE, to lead AST Private Company Solutions as President. An experienced and well-connected entrepreneur in the private company market and global compensation industry, she has held positions including President of Nasdaq Private Market Equity Solutions, CEO and Board Director at Certent, and Founder, CEO and Board Director at Global Shares. She was formerly a Partner with PwC and Nua Group and has held senior roles at Morgan Stanley and Towers Watson. Schneider was also named one of the “100 Influential Women in Silicon Valley” by the Silicon Valley Business Journal in 2017, among other honors. In 1993 she founded the National Association of Stock Plan Professionals (NASPP), in 1999 founded the Global Equity Organization (GEO), and over the years has launched several other related industry organizations.
“In my years of working with private companies, starting when I was part of the IPO team at Oracle, I’ve observed an unmet need for the full range of capabilities valued by these companies to be integrated in one solution,” said Schneider. “I’m excited to seize the opportunity with AST, which has already transformed other segments through a strategic mix of technology and advisory. In AST Private Company Solutions, we are building something truly special, using next-gen software to support private companies and their investors, employees and advisors.”
Central to the buildout of AST Private Company Solutions’s innovative software is Steve Madeira, who has joined as CTO. An expert technologist, he was most recently CTO of SynchroNet and, before that, Head of Product Operations at Nasdaq Private Market and Senior Vice President at Certent. Earlier in his career, he held various senior positions at Navio Systems, Inc., ePeople, Philips Electronics, Siemens and IBM.
Madeira will be joined by Eric Kissler as Chief Architect. Kissler was formerly Principal Architect with Certent and one of the company’s first engineers.
AST was originally founded as a transfer agent over 45 years ago. Through organic growth and strategic acquisitions, AST has pioneered a new model of integrated ownership data management, advisory services and financial technology in the industry. AST affiliates include AST Trust Company (Canada), D.F. King & Co, Inc. and Donlin, Recano & Company, Inc.
Today, AST offers a full scope of ownership services that include registry services, corporate proxy solicitation and advisory solutions, employee plan services, information agent, mutual fund proxy solicitation, shareholder identification and asset recovery offerings. For more information, please visit www.astfinancial.com.