The Money Management Institute's Operations and Communications Standards Committee Selects Heeren Pathak, CTO of Vestmark, as New Co-Chair

WASHINGTON, DC--(Marketwire - June 25, 2009) - At the June 4th quarterly meeting of the MASS Committee, MMI's standards creation effort, Heeren Pathak was elected as the new co-chair to serve a two-year term. Mr. Pathak, Chief Technology Officer, Vestmark will succeed Gib Veconi, President of Peridrome Inc. Mr. Pathak joins Hanna Salvatore Director, Mainstay Investments, as co-chair of the MASS committee. As part of Vestmark's ongoing commitment to the MMI standards, Mr. Pathak has been a key member of the standards effort helping to drive several of the subcommittees and working groups. His participation in the Account Origination and Maintenance Subcommittee as well as the Technical Working Group has been key to the recently approved 1.0 messages. The committee will benefit from Mr. Pathak's industry knowledge as well as his technical background to help keep this important industry effort moving forward.

Mr. Veconi became a MASS Committee co-chair in April 2006 after several years as a participant. "Gib has made an immeasurable contribution to the success of the standards effort," said Gary Jones, MMI Vice President for Industry Operations. Mr. Veconi will continue to be an active member of the group and through his firm, Peridrome Inc., a key contributor to the ongoing adoption effort.

The MASS Committee is working to provide industry definitions and a consistent electronic format that will enable industry participant firms to communicate with each other efficiently and effectively. The schema and supporting documentation is available for review or download on the MASS website www.mass-committee.org.

About The Money Management Institute

The Money Management Institute (MMI) MMI is the leading voice of global financial services organizations that promote investment advice and provide professionally managed solutions to individual investors and retirement plan participants. Formed in 1997, the MMI helps its member firms achieve a competitive advantage through educational initiatives, industry advocacy, regulatory affairs, professional networking and data reporting. For more information, visit www.mminst.org.

About Vestmark

Vestmark is a full service investment technology provider for investment managers, overlay managers, sponsors, and operations outsourcing service providers in the managed accounts industry. Vestmark's solution enables greater product innovation, increased operational efficiency, and compliance for its customers. The Vestmark Managed Accounts Platform (VMAP) is a modern, web-based platform providing complete functionality and connectivity to support the innovation in managed account solutions and the growth of the managed accounts industry. Vestmark is headquartered in Wakefield, Massachusetts with offices in Oakland, California; Cambridge, Massachusetts; and Jersey City, New Jersey. For more information about Vestmark's managed accounts platform solutions, please call 781-224-3640, email inquiry@vestmark.com, or visit www.vestmark.com.

Contact Information: Contact: Vestmark 781-224-3640