New hire brings vast industry experience and thought leadership in tax regulation to lead regulatory oversight for leading cost basis and tax reporting platform
Scivantage®, a FinTech 100 technology provider of Cost Basis, Information Reporting and Digital Wealth Management solutions, today announced the addition of Nelson Suit to enhance oversight on product compliance and provide clients with direction on proper cost basis and tax treatment.
Prior to joining Scivantage, Mr. Suit was Executive Director within the CTI Tax Solutions group at IHS Markit, where he led the team tasked with developing and maintaining the logic behind the CTI tax due diligence, tax withholding and reporting and section 871(m) compliance tools.
“We are excited to add Nelson to our tax team. As Scivantage continues to enhance our offering into a complete end to end tax reporting solution, Nelson’s extensive knowledge of tax regulations and industry experience will help ensure the continued compliance of our tax products,” said Cameron Routh, Chief Commercial Officer, Tax & Analytics, Scivantage. “In addition, Nelson will be providing a valuable contribution to our on-going thought leadership by continuing his participation on industry panels and publishing articles on pertinent issues,” noted Routh.
“As Scivantage continues to expand its market leadership in the tax and analytics space, my experience pairs well with the Scivantage vision for better integrated tax solutions. I am excited to become part of a team that is continually looking to improve and simplify the information reporting burden for the financial services industry,” said Mr. Suit
Before IHS Markit, Mr. Suit was Of Counsel to the international tax firm of Burt, Staples & Maner, LLP and, prior to that, Director, Financial Products and Fund Tax at Wellington Management Company LLP, an investment manager based in Boston. At Wellington, he oversaw tax review for investments made by the firm and provided key tax input on the tax structure for the launch of new sponsored products. Mr. Suit has also practiced with several global tax accounting and law firms, including PricewaterhouseCoopers LLP in Boston, White & Case in New York and Singapore and Baker & McKenzie in Hong Kong.
Mr. Suit has contributed to articles in tax journals on complex tax issues and has spoken in various forums on technical tax subjects, including cost basis reporting, information reporting, withholding, cross-border tax issues faced by investment partnerships, FATCA, section 871(m) and section 305(c). He obtained his BA in history from Yale University and a JD from Harvard Law School.
Scivantage® is a FinTech 100 technology provider of Cost Basis, Information Reporting and Digital Wealth Management solutions. With proven expertise in online brokerage, tax and portfolio reporting, and wealth management applications, Scivantage delivers intelligent and actionable information that goes beyond the boundaries of traditional financial software, helping improve investment decisions. Leading financial institutions, including broker-dealers, mutual fund companies, bank custodians, trust and prime brokers, depend on Scivantage’s cloud-based technology to achieve critical business insights, generate new revenue and build stronger customer relationships. For more information, please visit https://www.scivantage.com or contact us at +1.866.724.8268.