Risk Management Solutions former-senior executive Paul VanderMarck has joined investment banking platform Financial Technology Partners as a managing director.
In this new role VanderMarck will help build one of the earliest InsurTech ventures RMS. His experience working with insurers, re-insurers and financial institutions will help drive the firm’s innovation in the InsurTech sector.
VanderMarck joins FT after 17 years at RMS, where he has served as managing director, chief product officer and chief strategy officer.
FT Partners founder and CEO Steve McLaughlin said, “Paul’s incredible depth and knowledge across the InsurTech landscape and his network of relationships will enable FT Partners to continue our focus on advising clients on their most important strategic objectives and we are thrilled to have him as part of our senior team.”
Earlier this year, FT Partners completed the sale of InsurTech platform SquareTrade to Allstate for almost $1.4bn, making it the largest InsurTech exit to date. The sale saw a group of shareholders, including Bain Capital Private Equity and Bain Capital Ventures, sell their stakes in the company.
The last quarter of 2017 saw a record level of investments in to InsurTech, pulling in $872m, across 32 deals.
This is Financial Technology Partners second hiring this month, with the firm naming former Goldman Sachs vice president Melissa Wasser as director and head of private capital markets.
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