iCapital Network, an online platform that provides access to alternative investments, has added four senior executives including Michael Kushner as chief financial officer, Jennifer Ashley as chief people officer, Diane Frankenfield as chief marketing officer, and Stephen Jacobs as general counsel.
Kushner, who joined iCapital as managing director and chief financial officer, is responsible for the financial reporting, budgeting, capital and shareholder management, treasury, controllers, and tax functions. Prior to joining iCapital, he was with JPMorgan Chase & Co. for nearly 19 years, where he served in multiple senior finance and risk management positions, most recently as the chief financial officer for risk management and finance. Kushner was also with Credit Suisse for three years, his final position being chief financial officer for the Global Investment Bank.
Ashley joins as managing director and chief people officer and was previously the global human resources leader for CBRE, the world’s largest commercial real estate services and investment firm. In her almost 15-year career there, Ashley held various leadership positions in human resources, marketing, and sales and strategy.
Frankenfield, managing director and chief marketing officer, is responsible for the strategic direction and execution of all global marketing activities including brand, advertising, public relations, creative, digital, channel marketing, content development, social media, research and business analytics. Prior to joining iCapital, she held the positions of managing director and head of U.S. marketing at Legg Mason, and senior vice president and head of marketing at Oppenheimer Funds.
Jacobs serves as managing director and general counsel and will lead the legal and regulatory operations of the firm. Previously, he was partner and co-chair of the corporate department at Herrick, Feinstein LLP. Prior to Herrick, he served as chief operating officer, general counsel and chief compliance officer at Spectrum Group Management, a distressed credit and real estate-focused hedge fund and private equity fund.
Earlier this year, iCapital acquired the alternative investment feeder fund platforms of both Bank of America and Morgan Stanley. The iCapital platform now services approximately $41 billion in invested capital for more than 100,000 accounts.
The company said that it “has experienced substantial growth in the last 12 months as it has significantly increased the number of advisors on its network and expanded the scope of wealth management firms and general partners that leverage its technology…”
iCapital Network’s platform offers advisors and their clients access to private equity and hedge funds with due diligence and administrative support in a digital environment. As of June 30, 2019, the firm services more than $40 billion in invested capital across more than 100,000 underlying accounts.