Gumbs, who joins New York-based Broadridge after about three years with San Francisco-based Uber, will oversee the financial technology company’s legal, compliance, and physical security teams, according to a Thursday statement. He succeeds Adam Amsterdam, who is retiring after three decades as Broadridge’s legal chief.
“They’re a super important company to the ecosystem for banks, other financial services firms, and just for investors, particularly around governance,” Gumbs told Bloomberg Law, “and I was really excited—and remain excited—about the opportunity to join and to be part of that.”
Broadridge provides technology and operations platforms to financial organizations. Gumbs advised the company as outside counsel during his time as a partner with Covington & Burling, where he worked for 13 years before joining Uber in 2018 as associate general counsel.
Gumbs, who helped see Uber through the IPO process in 2019, was promoted to deputy general counsel at the rideshare giant in March, a role in which he oversaw multiple teams including corporate governance, ESG, marketing, and real estate. Uber’s legal department is led by chief legal officer Tony West and chief deputy general counsel Tammy Albarrán.
Uber and Broadridge have more in common as companies than it may initially appear they do, according to Gumbs.
“Coming from Uber, I would imagine that many people raise their eyebrows and say, ‘Okay, make the connection for me.’ I can do it pretty easily,” Gumbs said, adding that both Uber and Broadridge have a forward leaning culture that prioritizes and takes advantage of technology.
Amsterdam will transition into a senior advisor role following Gumbs’ addition. He said hiring Gumbs as his successor was “the best of all worlds.”
“I started working with Keir 15 years ago when Keir was at Covington, and I just always have had a tremendous amount of respect and admiration for Keir,” Amsterdam said.
Amsterdam joined human resources software company Automatic Data Processing, Inc.in 1991 and stayed with the company through Broadridge’s spinoff in 2007. He began his career with Stroock & Stroock & Lavan.
Broadridge’s third quarter 2021 net earnings held steady at around $165 million compared to last year, while its revenues increased by 11% to $1.4 billion.
“Our results continue to be propelled by powerful long-term trends including increased digitization, mutualization, and the democratization of investing,” Broadridge CEO Tim Gokey said in the company’s third quarter 2021 earnings report. “As a result, we continue to invest in our products and technology platforms.”
In March, the company acquired trading platform Itiviti Holding AB for $2.5 billion and later named former Bloomberg Tradebook CEO Ray Tierney as Itiviti’s new president. Itiviti, based in Stockholm, counts 24 of 25 top global investment banks among its clients.
“There’s no real leading technology player that’s serving all the needs of capital markets technology, and this really, really positions us to help make a big difference in that arena,” Gokey said of the acquisition in a March interview.