Susan Cosgrove Appointed to Ultimus Board of Directors

Seasoned financial executive brings rich experience and strategic vision to Ultimus board

Mar 10, 2021

CINCINNATI, OHIO –March 10, 2021 Ultimus Fund Solutions®, a leading independent provider of full-service fund administration, accounting, and investor solutions, is pleased to announce the appointment of Susan Cosgrove to its Board of Directors. Cosgrove is Managing Director and Chief Financial Officer of The Depository Trust & Clearing Corporation (DTCC), a financial markets infrastructure company that acts as the central counterparty and primary clearing corporation for the U.S. equity markets.

CFO since 2013, Cosgrove leads DTCC’s global finance, treasury, strategic sourcing, real estate, corporate services, and new initiatives oversight teams. She is a member of DTCC’s Management Committee, Management Risk Committee and co-chairs the Investment and Operating Committee. Cosgrove chairs DTCC’s Deriv/SERV LLC Board of Directors, as well as the boards of several of the DTCC trade repositories.

“We are most pleased to welcome Susan to the Ultimus Board of Directors,” said Ultimus CEO Gary Tenkman. “She has long been instrumental in guiding DTCC’s strategic approach to incorporating new technologies and using fintech to drive efficiencies and reduce risk and costs. She is a powerful advocate for finding the right balance between innovation and disciplined, structured decision-making. Susan’s vision is aligned with Ultimus’ ongoing commitment to leveraging the industry’s most advanced technology to streamline our operations and provide new solutions for investment managers and their clients. We are excited about the rich experience and insight Susan brings to the table and welcome her contributions to our business.”

“I continue to be impressed by the Ultimus Fund Solutions organization, the depth of its professional talent and the vision of the firm’s leadership,” Cosgrove said. “We share a passion for, and commitment to, innovation, client-centric service and to new and exciting applications for today’s most advanced technology. I look forward to partnering with my fellow Board members to provide strategic guidance and direction to advance the firm’s mission.”

Prior to her current role, Cosgrove was Managing Director and General Manager of Settlement and Asset Services, overseeing all depository businesses, and the General Manager for DTCC’s Equity and Fixed Income Clearing Services. Before that, she served as a senior vice president at Lehman Brothers in charge of audit and compliance for the company’s Americas division and was chief financial officer and head of compliance for 10 years at Maxcor Financial Group. Cosgrove began her career as a senior auditor in PricewaterhouseCoopers’ financial services group.

About Ultimus
Ultimus Fund Solutions (Ultimus) is a leading provider of full-service fund administration, accounting, and investor solutions to support the launching and servicing of registered funds, private funds, and public plans. The company also offers customized structures designed for the unique needs of pensions, endowments, foundations, and other large institutions. Ultimus’ deep commitment to excellence is achieved through investments in best-in-class technology, compliance programs, organization-wide cyber security efforts, and hiring seasoned professionals.

Headquartered in Cincinnati, Ohio with offices in other major cities such as Chicago and New York, Ultimus employs more than 700 seasoned accountants, attorneys, paralegals, application developers, fund administrators, compliance specialists, and many others with years of experience in the financial services industry. Servicing over 1,300 total traditional and alternative funds, Ultimus helps investment managers and fund families flourish in today’s increasingly sophisticated and dynamic investment landscape. For more information, visit

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