Courier Capital, LLC Promotes James E. Iglewski to President, Thomas J. Hanlon to Executive Vice President of Wealth Management and Co-Chief Investment Officer

Rhea-AI Summary

Courier Capital, an SEC-registered investment advisory firm and subsidiary of Financial Institutions, Inc., announces leadership changes. James E. Iglewski is promoted to President, succeeding Thomas J. Hanlon who becomes Executive Vice President of Wealth Management. Both will continue to manage investment portfolios and serve on the firm's investment committee. The new leadership structure aims to support continued growth and provide high-touch service to clients.

Positive

• James E. Iglewski promoted to President of Courier Capital
• Thomas J. Hanlon transitions to Executive Vice President of Wealth Management
• Leadership structure supports continued growth and high-touch service to clients

Negative

• None.

New leadership structure supports the continued growth of the Five Star Bank affiliate, which is now one of the largest registered investment advisory and wealth management firms in Western New York

BUFFALO, N.Y., Oct. 24, 2023 (GLOBE NEWSWIRE) -- Courier Capital, LLC (“Courier Capital”), an SEC-registered investment advisory firm and wholly-owned subsidiary of Financial Institutions, Inc. (NASDAQ: FISI) (the “Company”) today announced that James E. Iglewski has been promoted to President, succeeding longtime leader Thomas J. Hanlon, CFA, CFP®, CEBS, who transitions to the role of Executive Vice President of Wealth Management and Co-Chief Investment Officer.

As President, Mr. Iglewski, who most recently served as a Senior Managing Director with Courier Capital, will assume oversight of the firm’s core operations. As Executive Vice President of Wealth Management and Co-Chief Investment Officer, Mr. Hanlon, who served as President since 2016, will continue to provide strategic direction as well as focus on researching and monitoring Courier Capital’s mutual fund and exchange traded fund investment platform. Both Mr. Iglewski and Mr. Hanlon will continue to serve on the firm’s investment committee and manage investment portfolios for institutional and high-net-worth clients.

“Courier Capital’s well-earned reputation for fiduciary excellence and personalized, high-touch service spans more than five decades,” said Martin K. Birmingham, President and Chief Executive Officer of the Company. “This new leadership structure allows Tom, Jim and rest of the Courier Capital team to continue serving our wealth management, retirement plan and institutional services clients at the highest level, while positioning us for continued growth moving forward.”

In May, Courier Capital expanded through a merger with Rochester-based affiliate HNP Capital, LLC. The merger streamlined the Company’s ability to provide innovative financial products and services to current and prospective clients, including those of Five Star Bank and SDN Insurance Agency, LLC.

“Having led Courier Capital through a successful merger earlier this year that helped us grow into one of the largest wealth management firms in Western New York, I am excited to focus more of my energy on continuing to help lead our investment strategy and, importantly, my own client relationships,” said Mr. Hanlon. “Jim has made an incredible impact since joining our firm. His more than 25 years of experience serving institutional and private endowments, high-net-worth individuals and families will benefit our team and our clients immensely as he assumes a greater leadership role.”

“Courier Capital’s boutique, client-centric approach and commitment to research-driven independent guidance are what attracted me to this firm. I’m honored to have the opportunity to support its continued growth and, more importantly, the long-term financial success of our clients,” commented Mr. Iglewski.

Mr. Hanlon joined the firm in 2005. Prior to that, he served as a Vice President, Senior Portfolio Manager and Regional Manager for M&T Bank’s Private Client Services and as a Vice President and Senior Portfolio Manager with HSBC Bank, USA. Mr. Hanlon holds a B.S. degree in Business Management from Canisius College and earned his M.B.A. in Finance from the State University of New York at Buffalo.

Mr. Iglewski joined the firm in July 2022 after more than two decades in private banking with several large U.S. banks. Prior to joining Courier Capital, Mr. Iglewski served as Western New York Market Executive with Key Private Bank from 2017 through 2022. Earlier in his career, he worked at U.S. Trust, Bank of America, Fleet Bank, M&T Bank and HSBC. Mr. Iglewski earned his B.A. in Economics from State University of New York at Buffalo and his M.B.A. in Finance from Canisius College.

In addition to Mr. Iglewski and Mr. Hanlon, other members of Courier Capital’s leadership team include:

• Executive Vice President and Senior Portfolio Manager William H. Gurney
• Senior Managing Director, Retirement Services Rebecca L. Westervelt AIF®
• Senior Managing Director, Institutional Services Jason M. Stronz
• Co-Chief Investment Officer and Senior Portfolio Manager Steven A. Gattuso, CFA, CFP®, CMA
• Senior Director of Operations Heather L. Wisinski
  

As one of the largest registered investment advisory firms in Western New York with assets under management of approximately $2.7 billion, Courier Capital provides customized investment management, financial planning and consulting services to individuals and families, businesses, institutions, non-profits and retirement plans. Learn more at www.couriercapital.com.

About Financial Institutions, Inc. and Courier Capital, LLC
Financial Institutions, Inc. (NASDAQ: FISI) is an innovative financial holding company with approximately $6.1 billion in assets offering banking, insurance and wealth management products and services through a network of subsidiaries. Its Five Star Bank subsidiary provides consumer and commercial banking and lending services to individuals, municipalities and businesses throughout Western and Central New York and its Mid-Atlantic commercial loan production office serves the Baltimore and Washington, D.C. region. SDN Insurance Agency, LLC provides a broad range of insurance services to personal and business clients, while Courier Capital, LLC offers customized investment management, financial planning and consulting services to individuals and families, businesses, institutions, non-profits and retirement plans. Learn more at five-starbank.com and FISI-investors.com.

Disclosure
Courier Capital, LLC (“Courier”) is an SEC registered investment adviser located in Buffalo, NY, Rochester, NY, Jamestown, NY and Pittsburgh, PA. Courier and its representatives are in compliance with the current registration and notice filing requirements imposed upon SEC registered investment advisers by those states in which Courier maintains clients. Registration does not imply a certain level of skill or training. Investing involves gains and losses and may not be suitable for all clients. Investment products and services are not FDIC Insured, are not a deposit or bank guaranteed, are not insured by any Federal governmental agency, and are subject to investment risks, including possible loss of the principal invested. For information about Courier, including its registration, fees and services, please contact Courier or refer to the Investment Advisor Public Disclosure Website (www.adviserinfo.sec.gov).

For additional information contact:
Kate Croft
Director of Investor and External Relations
(716) 817-5159
klcroft@five-starbank.com

FAQ

Who has been promoted to President of Courier Capital?

James E. Iglewski

What role will Thomas J. Hanlon assume?

Executive Vice President of Wealth Management

What will the new leadership structure support?

Continued growth and high-touch service to clients