President & Chief Executive Officer
Dan Concannon brings to GMI Ratings extensive leadership experience in businesses providing research-based solutions to institutional, broker-dealer and issuer markets. Before he joined GMI Ratings, Mr. Concannon served as Global Head of Sales and Business Development at Mediant Communications and, earlier, WealthEngine. Prior to these roles, he was Executive Vice President of Sales, Marketing and Business Development at Institutional Shareholder Services where he grew sales from $30 million to $110 million and built a global sales organization with local presence in major financial centers around the world. In 2007, Dan played an instrumental role on the executive team that sold ISS to New York-based RiskMetrics Group, which subsequently went public. Mr. Concannon graduated with a B.S. degree in marketing from the University of Maryland and earned his Masters degree from Baruch College.
Chief Financial Officer
Deb Coffrin has more than 25 years of experience in finance and accounting, particularly in the areas of mergers and acquisitions. She previously served as CFO of TD Insurance, the largest insurance group in New England, and she was Treasurer and Senior Vice President of Kinney Pike Bell & Connor, a large insurance agency in Vermont. She also served as Controller at United Vermont Bancorporations, a bank holding company in Vermont. Ms. Coffrin holds a B.S. in Business and an A.D. in Computer Science from Castleton State College. She received a C.P.A. designation from the State of Michigan and was certified with the National Association of Certified Valuation Analysts.
Chief Marketing Officer
Cheryl Gustitus is Chief Marketing Officer for GMI Ratings, with responsibility for global marketing, communications, industry outreach and the firm’s thought leadership content. Ms. Gustitus has more than 20 years of experience in marketing financial data products and services. Prior to joining GMI, she spent ten years with Institutional Shareholder Services (ISS) where she led Global Marketing and Communications, helping to grow the firm four-fold, in the lead up to its acquisition by RiskMetrics Group, then subsequently by MSCI, Inc. Ms. Gustitus also served as Senior Vice President of Marketing for WealthEngine, Inc. and as Vice President of Corporate Communications and Investor Relations for Ocwen Financial in West Palm Beach, Florida. There, she worked on the launch of a financial technology spin-off of the mortgage-servicing parent. Cheryl started her career at premier mutual fund companies T. Rowe Price and Calvert Group, and then headed global marketing for Primark Corporation, where she was responsible for integrating the brands of multiple global financial data subsidiaries.
Executive Vice President of Sales
Jeff Lubitz brings to GMI Ratings a 20-year track record of increasing sales and rapidly expanding market share across multiple industries. Most recently, Jeff was Senior Vice President of Sales for WealthEngine, Inc., where he led five sales teams and achieved year-over-year double digit growth since 2009. Prior to joining WealthEngine, he served as Senior Vice President of Sales at Boston-based M|C Communications, a Bain Capital portfolio firm. With M|C, Jeff also served as a member of the Pri-Med senior leadership team. Before M|C, Jeff spent six years at Institutional Shareholder Services (ISS) where he was Vice President of Sales for proxy voting and corporate governance services. His responsibilities included managing and growing relationships with many of the world’s most recognized asset managers, pension funds and hedge funds. He led three successful sales teams and achieved unprecedented results which played a critical role in the company’s successful sale to RiskMetrics Group in 2007. Prior to ISS, Jeff was Director of Sales at Primark Corporation, a Waltham MA based financial information services company. Jeff has a Bachelor of Arts degree from The American University and an MBA from the A.B. Freeman School of Business at Tulane University.
Howard Sherman is Head of Sales and Global Business Development for GMI Ratings. He also serves as Treasurer and a member of the Board of Directors of the IRRC Institute, a not-for-profit organization headquartered in New York City that serves as a sponsor of environmental, social and corporate governance research.
Howard is the former chief executive of Institutional Shareholder Services (ISS), now part of MSCI, and of Thomson Financial Investor Relations, now part of Thomson Reuters. He is a founding member of the International Corporate Governance Network and the Network for Sustainable Financial Markets.
Howard has worked in the corporate governance field since 1986, when he joined the Investor Responsibility Research Center as senior analyst. Before joining IRRC he worked for the Board of Governors of the Federal Reserve System. Howard is a frequent speaker before both institutional investor and corporate audiences and the author of numerous articles and op-ed pieces in publications such as the Wall Street Journal, Pensions and Investments and Directors and Boards. He is the co-author of several major reports on corporate governance, including Structural Imbalances in Japanese Corporate Governance with Bruce Babcock, Conflicts of Interest in the Proxy Voting System with Jamie Heard, and The Market Impact of Corporate Governance Ratings with John Bodt.
Howard holds an MBA from the Wharton School and a BA in Economics from George Washington University. He has been listed in various editions of Who’s Who since 1991 and was elected to The Directorship 100 in 2010.
Managing Director, Quantitative Research
Ophir Gottlieb joined GMI Ratings in 2012 as Managing Director of Quantitative Research. Previously, he had served as Director of Client Services for Audit Integrity, one of the three firms that merged in 2010 to create GMI Ratings.
Mr. Gottlieb completed graduate work in Financial Mathematics at Stanford University. He holds an MBA in Finance and an undergraduate degree in Quantitative Economics with a focus on Mathematics. His specialties include machine learning and stochastic processes; in his current role, he focuses on the development of new investment risk models such as the recently launched Forensic Alpha ModelTM (FAM). He also plays a key role in the testing and further development of GMI Ratings’ forensic accounting model (AGR®).
After beginning his career at Barra, a leading provider of portfolio risk and performance analytics, Mr. Gottlieb worked for Cutler Group as an equity option market maker and proprietary trader on the NYSE ARCA option exchange floor. He also served as Managing Director of Client Services and Algorithmic Trading for options analytics firm Livevol®. He is the author of one of the most widely-read options trading blog in the world (Optionvol® Blog), and was the first author of the daily “Options Expert Analysis” exclusively available to Fidelity customers on the Fidelity.com website through October, 2013. He has been interviewed and cited by major financial publications more than 1,000 times in the last two years, and continues to be cited several times a week by Reuters, Bloomberg, Dow Jones, The Wall Street Journal, The Chicago Tribune, The Washington Post, The New York Times, and occasionally through re-publication in Barron’s, Forbes, The San Francisco Chronicle, and The Miami Herald.
Gary Hewitt, Ph.D., CFA
Managing Director, Head of Research
Mr. Hewitt joined GMI in 2013 and is responsible for global research and thought leadership across GMI’s ESG and forensic accounting business lines.
Mr. Hewitt joined GMI following seven years at Institutional Shareholder Services (ISS), a division of MSCI, Inc., where he served as an Executive Director and Senior Governance Research Analyst focusing on executive compensation analysis. While at ISS, Mr. Hewitt also helped to develop a number of models, policies and processes that drove ISS’ analytical framework and governance ratings products. Prior to this, he managed a team of researchers with Watson Wyatt, overseeing methodology, technology and client delivery components of benefits valuation and benchmarking.
Agnes Grunfeld, CFA
Managing Director, AGR Research
Ms. Grunfeld has worked in the financial services industry for the past 30 years, specializing in quantitative analysis of fixed-income securities, portfolio management, and the associated software development and support.
Before joining Audit Integrity, a GMI Ratings predecessor firm, Ms. Grunfeld worked at Citigroup Investments for six years, providing quantitative analytic support to fixed-income traders, portfolio managers, the credit research team and risk managers. Prior to Citigroup, Ms. Grunfeld spent eight years at Capital Management Sciences where she was a Senior Analyst concentrating on financial modeling and advanced investment applications. Early in her career, Ms. Grunfeld worked at L.F. Rothschild, Unterberg & Towbin as a credit analyst, and was an equity analyst for Goldman Sachs.
She holds a BA from Brooklyn College (CUNY) and a Master’s degree from Columbia University. She is a Chartered Financial Analyst (CFA).
Chief Analyst & Director of Development
A founding principal of The Corporate Library, a GMI Ratings predecessor firm, Mr. Marshall is responsible for GMI Ratings’ product design and development. Mr. Marshall is the chief architect of some of GMI Ratings’ pivotal product innovations, including the Board Analyst director database and the Governance Information Screening Tool (GIST). Together with former analyst Jackie Cook, he also developed the Board Analyst Director Interlocks Tool, the first commercial application of social network theory in this field.
Mr. Marshall is a co-inventor, with Robert A.G. Monks, of Brightline, a computer-based modeling program that simulates and statistically analyzes the effects of specific types of corporate behavior on long-term investment value.
Mr. Marshall has been involved in corporate governance research since 1996. Prior to the founding of The Corporate Library, he was the Chief Information Officer of Lens Investment Management, and worked closely with the firm’s British partner, the Hermes Focus Fund (formerly Hermes Lens). Prior to this, he served as an IT and graphic design consultant for clients including Lens Investment Management and Institutional Shareholder Services. Mr. Marshall has been a guest speaker and panelist at corporate governance conferences throughout the United States and has written extensively on investing in corporate governance.
Ric is a former trustee of Spring Harbor Hospital, a public non-profit psychiatric hospital serving southern Maine, and NAMI Maine, the Maine affiliate of the National Alliance for the Mentally Ill.