Press Release

PenChecks, Inc. Hires Senior Executive to Develop Strategic Partnerships

Issued by PenChecks Trust

Sept. 25, 2024

SAN DIEGO, CA – PenChecks, Inc., parent company of PenChecks Trust®, a recognized leader in outsourced benefits distribution solutions, is pleased to announce the hiring of Chad Brown as Vice President of Strategic Partnerships. His primary responsibilities encompass elevating the PenChecks brand by developing deeper and more meaningful partnerships with larger institutions, working closely with the sales team to identify significant growth opportunities, enhancing integration opportunities in highly competitive markets, and communicating PenChecks’ value proposition to drive mutually beneficial growth within these new opportunities.

“Chad is a highly accomplished executive with 28 years’ experience in the retirement plan industry,” says Spiro Preovolos, PenChecks President and CEO. “He has a long history as an influential strategist and a successful track record of enhancing profitability, productivity, and accountability. He is known for developing mutually beneficial alliances among decision-makers, multidisciplinary associates, and clients. We are thrilled to have him join us as he will be a significant asset to our team.”

Prior to joining PenChecks Chad worked at LeafHouse, a technology company that creates investment solutions for the retirement plan industry. While there, he held positions as Senior Vice President, Sales Strategy, and Chief Operating Officer. Among his many responsibilities he led the creation of a new external sales division, acted as executive contact for key institutional relationships, and led all day-to-day operations for the firm. Previously he worked for two decades in large, institutional financial service companies, including Transamerica and Nationwide Financial.

“We’re excited to have Chad join our highly dynamic sales organization,” says Scott Okrasinski, PenChecks Chief Revenue Officer. “He will play a key role in expanding our partnerships with larger institutions and providing guidance to our sales team in expanding similar relationships.”

Brown earned his Bachelor of Arts, Political Science degree at the University of Nevada, and was elected to serve in the Executive Chambers of the Governor during his senior year. He has served on the ACLI Retirement Committee, is a member of NAPA, and has held industry designation as an Accredited Investment Fiduciary (AIF) and the Institute of Certified Bankers designation as a Certified Retirement Services Professional (CRPS).

 About PenChecks Trust

PenChecks Trust® is a state-chartered, non-depository trust company and one of the largest independent providers of outsourced benefit distribution services in the U.S. With 30 years in business, PenChecks Trust is an expert and industry-leading provider of unique and comprehensive solutions for a myriad of plan and distribution issues. Services include automated and branded solutions for benefit payments, benefit election processing, missing participant searches, Automatic Automatic Rollover and Missing Participant IRAs, Advisor Managed voluntary IRA platform, uncashed / stale-dated check resolution, and Abandoned Plan / QTA Services. Customers include financial institutions, recordkeepers, third-party administrators, plan sponsors, advisors, participants, and account holders.

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