CINCINNATI, OH – September 30, 2025 – Ultimus Fund Solutions® (Ultimus®), a leading independent provider of full-service, technology-enhanced fund administration and middle office solutions, today announced the retirement of Co-Founder and Vice Chairman, Mark Seger, effective September 30, 2025. After three decades of dedicated service and leadership within the industry, Seger leaves behind a legacy of client-centric innovation and a culture of exceptional service that has become the hallmark of the firm.
Seger helped co-found Ultimus in August 1999 with a clear vision to reimagine fund administration by placing client needs at the core of the business. Throughout his tenure, he played a vital role in shaping the firm’s strategic direction and upholding the high-quality standards delivered to clients. His commitment to building a 100% referenceable client base established a foundational principle that continues to guide the company’s daily operations and strategic decisions. This unwavering focus on service has been a key factor in the firm’s consistent industry recognition and high client satisfaction rates.
“Mark’s leadership, vision, and integrity have shaped not only the firm, but also all of us who have had the privilege to work alongside him,” said Gary Tenkman, CEO of Ultimus. “I am grateful to Mark for inviting me to join this incredible organization and for entrusting me with the opportunity to help lead the company he helped build from the ground up.”
Reflecting on the company’s future, Mark Seger commented, “Since 2014, Gary has demonstrated fantastic leadership and a deep commitment to carrying on the client-first culture that has defined Ultimus from the very beginning. Under his guidance, the company has continued to grow and evolve while staying true to the principles that have made it a trusted partner in the financial services industry. I’m proud to see the legacy of excellence we built remain in such capable hands.”
Before co-founding Ultimus, Seger held key roles at another mutual fund service provider, including Chief Accounting Officer and Mutual Fund Treasurer. His career began in the Audit Division of Arthur Andersen’s Cincinnati office. Seger’s retirement marks the departure of the last of the three original co-founders of Ultimus, concluding a significant chapter in the company’s history.
The firm continues its growth trajectory, having completed a strategic merger and several acquisitions over the past ten years. Most recently, Ultimus appointed John Lehner and Jay Martin as Presidents to lead the public fund administration and private fund administration divisions of the company, reinforcing its commitment to specialized expertise and client service excellence.
About Ultimus Fund Solutions
Ultimus Fund Solutions is a leading provider of full-service fund administration, accounting, and investor solutions, supporting asset managers and investment funds of all types and sizes. With cutting-edge technology, industry expertise, and a consultative approach, Ultimus is committed to delivering tailored solutions and superior service. Headquarters are located in Cincinnati, Ohio, with operational offices in key cities nationwide. Ultimus employs more than 1,100 seasoned professionals, servicing over 2,300 total traditional and alternative funds with more than $700 billion in assets under administration. For more information, www.ultimusfundsolutions.com.
COD00000842 9/29/2025
