ELLICOTT CITY, Md., January 5, 2016 – The directors of the Investment Program Association (IPA) named industry veteran Anthony J. Chereso the organization’s new president and chief executive officer. In this role, Chereso will provide strategic guidance for the direct investment industry trade association and oversee the daily operations of the organization.
“We are delighted Tony agreed to take on this new role and bring his deep knowledge and understanding of the direct investment industry, its opportunities and its challenges, to benefit all of the members of the IPA,” said Thomas K. Sittema, CEO of CNL Financial Group and 2016 chairman of IPA’s board. “Tony has a great deal of relevant experience, and will bring intense focus and passion to this role as our industry evolves to meet the changing regulatory environment and needs of investors.”
Chereso joins the IPA from United Development Funding, where he served as the director of capital markets. He previously served as president and CEO of FactRight, LLC, a leading third- party, independent due diligence and research firm, where he oversaw the company’s strategic initiatives, business development and operations. He has also served as the director of national sales for a national real estate syndicator and spent 18 years working in corporate finance, tax and audit with Verizon Communications.
In addition to serving on the IPA board of directors, Chereso also has served in key leadership roles on a number of committees and task forces. He additionally served on the board and executive committee of the Alternative & Direct Investment Securities Association (ADISA). Chereso is a graduate of the DePaul University School of Commerce, attended business school at the University of Dallas and is a distinguished instructor for the Institute of Internal Auditors.
“I have been deeply involved with the IPA for several years and I am honored and excited to be taking on this new role and responsibility,” Chereso said. “For 30 years the IPA has been a leading advocate for its members and investors alike. This is an exciting and challenging time in the direct investment industry and I look forward to helping guide the IPA as we embark upon this extremely important chapter of our industry.”
Chereso replaces Kevin Hogan, who served as president and CEO of the IPA since 2009. During Hogan’s tenure, the IPA worked closely with FINRA to develop guidelines for valuing direct investments and on the implementation of FINRA Regulatory Notice 15-02, which created new disclosure standards for investor account statements.
“We appreciate Kevin and his tireless commitment to the IPA over the last six years,” said Kevin Shields, 2015 chairman of the IPA and chairman and CEO of Griffin Capital. “Kevin lead us through a time of tremendous change and served as a strong advocate for our organization and its members.”
About The Investment Program Association
The Investment Program Association (IPA) was formed in 1985 to provide effective national leadership for the direct investment industry. The IPA supports individual investor access to a variety of asset classes not correlated to the traded markets and historically available only to institutional investors. These include public non-listed REITs (NL REITs), business development companies (BDCs), energy and equipment leasing programs, and private equity offerings. For over 30 years the IPA has successfully championed the growth and improvement of such products, which have increased in popularity with financial professionals and investors alike. Direct investments are held in the accounts of more than 2 million individual investors, and the IPA’s member companies operate or have properties in all 50 states. Today these investment products function as a critical component of effectively diversified investment portfolios and serve an essential capital formation function for the US economy. The mission of the IPA is advocating direct investments through education. Access the wealth of IPA educational materials here, or visit the IPA online for more information about becoming a member.
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