David C. Brown
Chairman and Chief Executive Officer
David C. Brown has served as our chief executive officer since our acquisition from KeyCorp in August 2013 and chairman of our board of directors since April 2014. He joined our board of directors upon its formation. Mr. Brown serves as chairman and chief executive officer of VCM, responsible for the development, execution and oversight of firm strategy. He is also chairman of the VCM investment committee and a member of the Boards of Trustees for the Victory Funds and the USAA Mutual Funds.
Mr. Brown joined the firm in 2004 and has held multiple senior level positions including chief operating officer prior to his current role. Before joining Victory, Mr. Brown spent five years at Gartmore Global Investments, Inc. in a number of senior management positions including chief financial officer and chief operating officer of Gartmore Emerging Managers, LLC. Prior to joining Gartmore, he worked for Ernst & Young LLP as a manager in the Assurance & Advisory Business Services unit focusing on investment management businesses.
Mr. Brown holds a Bachelor of Arts degree in political science with an emphasis on accounting from Ursinus College and a Master of Business Administration from Case Western Reserve University. Mr. Brown has previously served on the boards of directors for Cerebellum Capital, the Summa Health Systems of Ohio Investment Committee, JumpStart of Ohio, and was previously a member of the Bluecoats, Inc. of Cuyahoga County, OH. He was also selected as a 40 under 40 award winner by Crain’s Cleveland Business. He is a Certified Public Accountant.
Michael D. Policarpo
President, Chief Financial Officer and Chief Administrative Officer
Michael D. Policarpo is president, chief financial officer, and chief administrative officer for Victory Capital. He is responsible for the firm's financial operations, accounting, and treasury management, as well as the day-to-day operations of the business platform, including all operational and administrative functions. Mr. Policarpo also supports inorganic growth sourcing, evaluation and execution, as well as business platform integration. Mr. Policarpo joined the firm in 2005 and has held several senior level roles, including serving as chief operating officer from February 2016 to March 2019 and chief financial officer from August 2013 through June 2017.
Prior to joining Victory Capital, Mr. Policarpo served as vice president of finance for Gartmore Global Investments, Inc. where he was responsible for strategic planning in conjunction with Gartmore’s senior management teams. He held several other positions during his five years at Gartmore, including chief financial officer of Advisor Services and corporate controller. Prior to his tenure with Gartmore, he worked for Ernst & Young LLP as a senior accountant in the Assurance & Advisory Business Services unit with a focus on investment management companies, registered investment companies and broker-dealers.
Mr. Policarpo holds a Bachelor of Science degree in business and economics from Lehigh University. He is a Certified Public Accountant and holds Series 7, 24, 27, and 99 securities licenses.
Kelly S. Cliff, CFA, CAIA
President, Investment Franchises
Kelly S. Cliff serves as president of investment franchises with Victory Capital. In this role, he serves as a strategic resource for Victory Capital’s independent investment franchises, focusing on best practices in alpha generation, risk management and alignment of investment management capabilities with client needs. He is also responsible for providing tactical analysis of Victory Capital’s existing franchises as well as evaluating the capabilities of potential new franchises as part of the firm’s acquisition strategy. Mr. Cliff oversees the centralized investment functions that support the franchises, including trading, quantitative analysis, and risk management.
Prior to joining Victory Capital in 2014, Mr. Cliff spent 22 years with Callan Associates, most recently serving as the chief investment officer of public markets and co-lead of the Global Manager Research Group. Previously, he was chief investment officer of Callan’s Trust Advisory Group. Mr. Cliff joined Callan in 1992 as an analyst, and in 1998 he became practice manager of the firm’s Client Report Services department. From 2000 to 2006, he was manager of Callan’s Global Manager Research Group.
Mr. Cliff graduated from the University of the Pacific with a BS in Business Administration and has earned the right to use the Chartered Financial Analyst designation and the Chartered Alternative Investment Analyst designation.
Chief Legal Officer and Head of Human Resource Administration
Nina Gupta is chief legal officer and head of human resource administration of Victory Capital. Previously, Nina was general counsel and secretary of RS Investments, which was acquired by Victory Capital in July 2016.
Prior to joining RS, Nina worked at BlackRock Institutional Trust Company N.A., where she was deputy general counsel of BlackRock Institutional Trust Company, responsible for providing legal advice in connection with corporate matters, counterparty trading, transactional documentation, and regulatory issues in connection with a variety of different fund structures and accounts.
Previously, Nina was an associate at the law firm of Shearman & Sterling LLP in New York and Menlo Park, where her practice focused on general corporate, structured finance and banking matters. Nina earned a law degree from the University of London in 1996 and a Masters in Law from the University of Cambridge in 1997.