Shareholder Services Manager
My role at Exelon Corporation
Exelon Corporation is an electric utility holding company that was formed in 2000 through the merger of Chicago’s Commonwealth Edison Company and Philadelphia’s PECO Energy Company. It has now grown to include Constellation Energy Group and Baltimore Gas and Electric Company.
Electric utility stocks, because of their stability and reliable dividends, were always a popular investment for individual shareholders and have a long, long history of dividend reinvestment plans as well as employee stock purchase plans. Because of this, ensuring access to historical account information back to the 1980s – if not earlier– for my registered and retired employee shareholders is one of the most critical parts of my job. This can be very challenging in some cases considering not only the corporate actions that we’ve had, but our numerous changes of systems and vendors over the years, each of which caused a disruption in the continuity of record keeping. I have worked diligently not only to maintain shareholder access to the historical data, but also to be able to seamlessly piece together their account data across all of the numerous changes.
Like many of you, shareholder services is just one of many different hats I wear. I am also responsible for the company’s Section 16 reporting, the board of directors’ compensation programs, various aspects of our insider trading control process and day to day administration of our employee stock purchase plan.
My Involvement with the SSA
I joined the SSA shortly after I assumed responsibility for the shareholder services function at Exelon. There was no formal handoff, no internal training, and I was lucky to have been given a few procedure binders and the telephone number to our relationship manager at the transfer agent.
The SSA was invaluable to me in providing educational and networking opportunities so that I could get up to speed quickly with my new duties. If you think about it, accountants, engineers, sales reps, lawyers and other professionals within any company only need to go to the next office or cubicle to collaborate with a colleague or brainstorm solutions for some unusual problem. But in our industry, where many companies may only have one person assigned part-time to shareholder services, there is no such luxury. For us, the SSA is where we find the colleague with whom we can collaborate and brainstorm or sometimes just take satisfaction in knowing that someone else understands what we’re talking about.
A little bit about me
A life-long Chicago North-Sider, I started working as a structural engineer for Commonwealth Edison’s fossil fuel division more than 25 years ago, designing a wide assortment of transformer foundations, cat-walks, pipe hangers and an infamous “musical” retaining wall on the shore of Lake Michigan. After working a few years in a coal-fired power plant and earning an MBA at night school I transferred to the corporate office and worked through a variety of long range planning and strategic valuation functions, moving to the treasury department and then to the Corporate Secretary’s staff where I still sit today. My wife, Susan, and I have four children, two in high school and two approaching high school. I enjoy woodworking and a variety of household DIY projects and also serve as an assistant scoutmaster for our local Boy Scout troop where I made a standing offer to lead a merit badge session in stock transfer- but there are no takers so far.