Metcalfe is out, but sticking around to help with replacement's transition. IRA-rollover service provider Wealth Management Systems, Inc. (WMSI) has selected former COO John Geli as its new CEO. He replaces Jude Metcalfe, who recently resigned.

Metcalfe had been CEO since November 2004. He remains a WMSI shareholder, and the company says he is "working closely" with Geli "to ensure a smooth transition" of the firm's leadership.

Recent wins

"The rollover market offers limitless opportunities for our clients," says WMSI chairman and president Tom Loch. "John understands not only the business needs of all the key stakeholders but also the breadth and depth of WMSI's technology platforms and services. John is uniquely qualified to hit the ground running and maximize WMSI's position in the marketplace to grow the company to its full potential."

Prior to joining Bedminster, N.J.-based WMSI, Geli worked at Mellon Financial (now Bank of New York Mellon), Bankers Trust (now part of Deutsche Bank) and Fidelity.

Neil Gabriele is managing director of Westport, Conn.-based Bluff Point Associates, WMSI's principal backer, and a director of the firm. "Bluff Point Associates has been gratified by WMSI's marketplace expansion and accomplishments in 2007," he says. "John is a highly motivated individual who can sustain WMSI's current momentum and forge new relationships that will continue to expand WMSI's service offerings and its IRA and [third-party administrator] networks."

Right after expanding its sales team late in 2006, WMSI's wins this year have included Mercer HR Services , Transamerica and a marketing agreement with SunGard. -FWR

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