Welsh, Carson, Anderson & Stowe Names Richard E. Aiello Senior Operating Executive;
NEW YORK--(AllPayNews)--Aug. 1, 2006--Welsh, Carson, Anderson & Stowe ("Welsh Carson"), the largest private equity investor in information & business services and healthcare, announced that it has named Richard E. Aiello, 43, as Senior Operating Executive of the Firm. Aiello was previously Senior Vice President - Strategic Investments Group at First Data Corp. (NYSE: FDC), where he oversaw all merger, acquisition, and joint venture activities. Mr. Aiello will be based in New York City.
In his new role at Welsh Carson, Aiello will be responsible for identifying unique business opportunities and trends, evaluating new investment opportunities, deal structuring, and initiatives to enhance the growth and performance of the Firm's portfolio companies in the information & business services sector.
"We are thrilled to add someone of Rich's caliber and experience to the Welsh Carson team," said Anthony J. de Nicola, a General Partner of Welsh Carson. "He is a seasoned M&A professional with extensive expertise in the information & business services industry, making him a natural fit at Welsh Carson with our focus on industry specialization, operational expertise, and proprietary deal flow. We look forward to his contributions as we continue to identify exciting new investment opportunities within our targeted sectors and work to generate superior returns for our investors."
Aiello commented, "Welsh Carson has had an unwavering strategy since its inception, and as a result, has become one of the premier private equity investors. My previous experience as part of a Welsh Carson portfolio company will provide a unique insight in adding value to all stakeholders, and I look forward to working with Welsh Carson's talented investment team to help build upon their proven strategy of enhancing the Firm's leadership position in an increasingly competitive market."
Aiello spent the last 11 years at First Data serving most recently as the Senior Vice President for Strategic Investments. Since 2000, Mr. Aiello has had management responsibility for all of First Data's merger, acquisition, divestiture and joint venture activities, completing over 100 strategic transactions in the payments, business process outsourcing, and money transfer sectors.
He joined First Data in 1995 as part of First Data's acquisition of Card Establishment Services (CES), a Welsh Carson portfolio company at the time of the sale. Between 1995 and 2000, Aiello worked in First Data's merchant deal group, creating many of the company's joint venture alliances with major financial institutions.
Prior to First Data, Aiello was a member of the M&A team at CES where he helped create the first-ever merchant alliance with Wells Fargo Bank.
Aiello has a BA in Economics from the State University of New York at Stony Brook.
About Welsh, Carson, Anderson & Stowe
Welsh, Carson, Anderson & Stowe is one of the largest and most successful private equity investment firms in the United States. Since its founding in 1979, it has organized 14 limited partnerships with total capital of over $16 billion, investing in more than 165 companies and funding over 700 subsequent follow-on acquisitions. It is currently investing over $4.7 billion of capital from an equity fund, Welsh, Carson, Anderson & Stowe X, L.P., and WCAS Capital Partners IV, L.P., a dedicated subordinated debt fund. Welsh Carson focuses its investment activity in two industries: information & business services and healthcare. See www.welshcarson.com to learn more.
Welsh, Carson, Anderson & Stowe
Jonathan Rather, 212-893-9570