InvestmentNews CEO and Publisher Suzanne Siracuse has resigned, effective August 16. The announcement comes less than a year after London-based Bonhill Group plc. purchased InvestmentNews from Crain Communications Inc. for $27.1 million.
Siracuse helped launch the financial services publisher in 1997 and has been at the helm of the brand for over 13 years. Her departure follows the exit of much of the brand's sales staff, including national sales manager John Bubello, West Coast sales manager Rich Kiesel, Midwest sales manager Sarah Haase and regional sales manager Nicole Casement.
Siracuse’s departure was largely expected after she signed a one-year contract following the purchase of InvestmentNews. Syracuse and Simon Stilwell, Bonhill’s CEO, insisted her departure was her own choice, with Stilwell stating in an email, "It was not a one-year only contract. It was a normal contract that Suzanne resigned from after leading the business out of Crain for a year.”
He added, "Suzanne has been instrumental in developing the brand and has personally led many key initiatives and client relationships. She's made an enormous impact on the U.S. financial adviser and wealth management space."
In regards to her replacement, Stillwell stated, “We have been looking for a replacement since we became aware of Suzanne’s decision, and we have someone who has accepted our offer, and we will be announcing shortly."
The move for a new publisher comes with Bonhill looking to make headway in the digital space. “In the US, with InvestmentNews, we have shifted the focus on recruitment to appeal to a wider, more digital-savvy group. This has given much of the responsibility to a younger more digitally native cohort that better represent the brand," they stated in a report.
Following the announcement, Siracuse said in email, "Over the years, I've fallen in love with the financial advice profession and the many people, firms and services that we cover and serve. I plan to explore what my next step will be in the coming months within the industry and want to do that free of obligations."
She added, "There are many exciting things happening right now at InvestmentNews. But now it is time for me to turn the reins over to someone new, someone who will lead this brand into a new chapter."