CHARLOTTE, N.C. – RolloverSystems, a developer of a platform that allows workers to select a new 401k plan when changing jobs, announced that it has appointed J. Spencer Williams as President and Chief Executive Officer, effective in mid-April.

Williams most recently served as Senior Vice President of the Income Management Group at MassMutual.

Williams succeeds Lisa Pickrum, Chief Operating Officer of The RLJ Companies, one of the investors of RolloverSystems, and a member of the RolloverSystems Board of Directors.

“The members of the board are looking for a CEO who understands the need for the company to drive towards an industry standard that takes into account the complexities of the rollover services market, including the varied stakeholders who touch the end participant in the process,” said Robert Johnson, CEO and Chairman of The RLJ Companies and majority owner of the NBA Charlotte Bobcats. “Spencer’s experience makes him well-suited to this role. In addition, he is a seasoned executive who understands the strategy and process needed for RolloverSystems to grow to its full potential.”

Johnson made more than $1.4 billion from the sale of BET to Viacom Inc. in 2000 and has invested undisclosed amounts in RolloverSystems in the “millions”.

“The rollover IRA market is an unprecedented opportunity involving hundreds of billions of dollars and tens of millions of Americans,” said Mr. Williams. “RolloverSystems is uniquely positioned to help stakeholders such as retirement plan consultants, employers, consumers, plan providers and financial advisors to maximize their opportunity in the IRA market. I feel privileged to lead such an innovative company at this important time.”

www.rolloversystems.com

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