Press Release

Ascensus Names Phillip Gillespie New Chief Legal, Risk and Compliance Officer

Issued by Ascensus

Feb. 26, 2025

Ascensus announced today that Phillip Gillespie has joined the company as its new Chief Legal, Risk and Compliance Officer. Gillespie reports to Ascensus Chair and CEO David Musto and is based in the company’s Newton, MA office.

“Against the backdrop of a rapidly evolving legal, risk, and regulatory environment for tax-advantaged savings, we are very pleased to have Phil join our team,” said Musto. “Ascensus is a market leader with a track record of success for clients while operating in a highly controlled, secure manner. With our strong growth trajectory requiring focus on technology, client experience, and AI, Phil’s more than 30 years of experience as a general counsel and commercial business partner, in private practice and as a regulator, make him a perfect fit for the opportunities ahead.”

Gillespie most recently served as Senior Counsel in the Investment Management and Securities Practice Group of Wilmer Cutler Pickering Hale and Dorr in Boston, MA. Previously, he was EVP and General Counsel for State Street Global Advisors, with responsibility for the global legal affairs of State Street Corporation’s asset management arm. Prior to State Street, Gillespie held legal function leadership roles with Oppenheimer Funds, Merrill Lynch Investment Managers, and Chancellor LGT Asset Management. 

Earlier in his career, he served as a Senior Counsel with the U.S. Securities and Exchange Commission, as an associate with Perkins Coie, and on the staff of the U.S. Court of Appeals.

After earning his Bachelor of Science degree in Foreign Services from Georgetown University, Gillespie was awarded his Juris Doctor from Tulane Law School. He has served as an adjunct professor at Boston University Law School in the institution’s program for Banking and Financial Services since 2020.

Gillespie succeeds Joe Dansky, who earlier in 2024 shared his plans to leave Ascensus to pursue new career opportunities. Dansky will remain with Ascensus until early May to support the leadership transition.

About Ascensus 

Ascensus provides market-leading technology, services and expertise that help millions of people save for a better future through tax-advantaged savings.  The company is a premier savings program service provider, third-party administrator, and government savings facilitator. Its platforms, industry knowledge, and data-based insights enhance the growth and success of its partners, their clients, and savers through co-branded, private-labeled, and governmental partnerships.

Ascensus offers comprehensive qualified and nonqualified retirement plan solutions, third-party retirement plan administration, 529 education and ABLE savings program administration, corporate- and bank-owned life insurance solutions, and fiduciary and total rewards services.

The company’s brands include Ascensus; Newport, an Ascensus company; and FuturePlan by Ascensus. Ascensus has more than $863 billion in assets under administration and employs more than 5,400 associates as of December 31, 2024.

For more information, visit ascensus.com and newportgroup.com.

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