The banking technology and outsourcing provider Metavante Corp. has hired Timothy C. Oliver as its chief financial officer and a senior executive vice president in advance of its planned spinoff from Marshall & Ilsley Corp.
Mr. Oliver, whose hiring was announced this week, is the treasurer of Rockwell Automation Inc. of Milwaukee and will start his new job July 23.
The $4.25 billion spinoff deal, announced in April, is expected to close next quarter and generate $1.67 billion of proceeds for M&I. The private-equity firm Warburg Pincus would pay $625 million for a 25% stake, and M&I would distribute the rest of Metavante's stock to M&I shareholders.
Mr. Oliver, 39, handles investor relations, global treasury, contracts, and pricing at Rockwell. Before joining that company, he had been vice president for investor relations and financial planning at Raytheon Co. of Lexington, Mass.
"As we prepare to become a separately traded public company focused on continued growth, we will benefit from having a chief financial officer who brings large public company experience," Frank Martire, Metavante's president and chief executive, said in a press release.
