Press Release: myCFO
July 20, 2001
INTERNET WIRE -- myCFO, Inc., a leading wealth advisory firm for high-net-worth individuals, yesterday announced
it has hired 18-year financial services veteran, Ross Kari, to serve as its CFO as of August 2001. Kari joins the
firm from Wells Fargo (NYSE:WFC) where he held finance positions since 1983 and has served as Executive Vice President
and CFO since 1998.
"We are so pleased to have Ross join the management team to help us lead the company into the next phase of
growth," said Art Shaw, CEO and President of myCFO. "Ross is a seasoned CFO who has great experience
in financial services, having managed corporate expansion and worked extensively with Wall Street."
"myCFO has accomplished a lot in just two years - the model is unique and compelling and has caused the industry
to take a serious look at how financial services are delivered to the affluent," said Ross Kari, incoming
CFO for myCFO. "With 375 clients representing $35 Billion in net worth and an impressive cadre of talented
financial professionals, myCFO has established itself as a serious player, and I'm extremely pleased to become
a part of the team."
Ross Kari - Seasoned Financial Services Executive
Kari recently served as Executive Vice President and head of Wells Fargo's Finance Group, managing the Management
Reporting and Analysis, Controller's, Management Sciences, Investor Relations, and Treasury divisions of Wells
Fargo, as well as the Corporate Network Services and Finance Timesharing Facility departments.
Kari joined Wells Fargo in 1983 as an analyst in the Finance Group and was promoted to Vice President of Financial
Planning in 1987. In 1990, Kari was promoted to Senior Vice President and Manager of Finance and Planning in Retail
Branch Administration. In 1992, he assumed responsibility for the 7/24 Banking Division, responsible for Wells
Fargo's ATM and Telephone Banking businesses. Kari became Executive Vice President and General Auditor of Wells
Fargo in 1995. Kari also managed Corporate Security and acted as Wells Fargo's Compliance Officer. In 1997, Kari
took over a new position as Group Head in the Finance Group, and in 1998, was elected as Chief Financial Officer.
In 1998 with the merger involving Norwest and Wells Fargo & Company, Kari was named Deputy Chief Financial
Officer and in 2000, he was named Chief Financial Officer of the merged entity.
Kari received a BS in Mathematics in 1980, and an MBA in Finance in 1983 from the University of Oregon.
About myCFO, Inc.
myCFO is a wealth-advisory firm which manages the complex financial lives of high-net-worth individuals through
best-in-class professional services and advanced technology. myCFO offers unbiased and independent advice and services
covering every aspect of wealth planning and management, including Income Tax Planning & Compliance, Investment
Advisory, Estate & Trust, Risk Management & Insurance, Philanthropy, and Expense Management & Financial
Reporting. A Client Service Director personally manages each client's wealth, complemented by Internet-based wealth
management tools.
myCFO is privately held with headquarters in Silicon Valley, California. myCFO has raised $90 million in private
placement funding and its investors include Jim Clark, Kleiner Perkins Caufield & Byers, The Barksdale Group,
Northern Trust, Amerindo Investment Advisors, Presidio Ventures (a Sumitomo Corporation company), RSA Ventures,
and other private investors. More information can be found at www.myCFO.com
or by calling 877.692.3611.
This press release contains certain forward-looking statements, which are subject to the Safe Harbor provisions
created by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to the
prospective demand for the firm's services, competitiveness of such services, and ability to attract and retain
clients through current or anticipated future service offerings. Such statements are based on current expectations
and are subject to risks, uncertainties, and changes in condition, including, specifically, myCFO's ability to
execute on anticipated service offerings. Readers are cautioned not to place undue reliance on these forward-looking
statements. The firm undertakes no obligation to update the information in this press release.
Investment Advisory Services are offered through myCFO Investment Advisory Services, LLC, a wholly-owned subsidiary
registered as an Investment Advisor with the Securities & Exchange Commission. myCFO Investment Advisory Services,
LLC is responsible for developing and administering policies and procedures relating to the provision of investment
advice in conjunction with myCFO's personal financial services.
"myCFO" is a trademark of myCFO, Inc. Copyright 2001 myCFO, Inc. All rights reserved.
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Contact:
Alison Blume myCFO, Inc. 650-210-5314 ablume@mycfo.com