SAN ANTONIO, Sept. 22 /PRNewswire/ -- Leading bank broker-dealer Investment Professionals, Inc. (IPI) today named Richard Dullnig to the new position of Chief Compliance Officer. The appointment is a direct result of significant growth in the number of IPI's bank investment programs over the past two years and the opening of a new retail office in The Woodlands, Texas.
According to IPI President and Founder Scott Barnes, "The hiring of Richard Dullnig reflects IPI's commitment to ensuring a level of risk management commensurate with the size of our business in an effort to maintain our solid 17-year FINRA compliance record." In addition, IPI is ranked No. 1 in Compliance Procedures by American Brokerage Consultants.
IPI recently moved up to 3rd place in its category of $35-$99 million in revenue on the San Antonio Business Journal's 2009 Fast Track list of fastest-growing companies.(1) The list ranked companies by compounded average growth in revenue in the 2006-2008 period. Notwithstanding the challenging market of 2008, IPI maintained a solid 19% average revenue growth from 2006-2008. In the 12-year period from 1996-2007, IPI earned an average return on equity of 31%.
Mr. Dullnig has 19 years of experience in the financial services industry. Prior to joining IPI, he was a Branch Manager with H&R Block Financial Advisors. Mr. Dullnig stated, "I look forward to helping IPI stay at the forefront of its industry by using compliance best practices that help protect IPI's financial institution partners and their customers as we work together to achieve a range of objectives."
IPI also named Bryan Abbott Chief Compliance Officer of its affiliate, SB Value Partners - a registered Investment Advisor that manages five hedge funds. Mr. Abbott has over 12 years of varied experience with IPI.
IPI regularly receives accolades from respected outside observers. For an unprecedented fourth time the bank broker-dealer was named Most Highly Rated Bank Brokerage Firm in the country.(2) In addition to being one of the fastest-growing companies in San Antonio, IPI has been named one of the Best Companies to Work for in Texas for three years in a row.(3)
Founded in 1992, IPI is a private, Texas-based investment and insurance brokerage and asset management firm with $4.2 billion under management and 45,000 clients nationwide. IPI currently manages bank investment programs at more than 125 financial institutions with assets in the range of $35 million to over $7 billion.
Contact: Sarah Pequano 210-582-2841
(1)San Antonio Business Journal, 7/17/09
(2)American Brokerage Consultants' Studies of Bank Brokerage and Retail Investment Services, 2008, 2007, 2006, 2001
(3)Texas Monthly Magazine, 2009, 2008, 2007
SOURCE Investment Professionals, Inc.
