Condé Nast-parent Advance Publications has hired Janine McGrath Shelffo as chief strategy officer and developmental officer.
Shelffo expands upon the investment-focused role that Andrew Siegel held before he was moved within the company earlier this year. He now holds the position of president of American City Business Journals’ Growth Strategies Group.
Shelffo, who is co-head of technology, media and telecom for the Americas at UBS Investment Bank, will join Advance later this year. She is charged with heading up corporate strategy and leading a “multibillion dollar capital deployment program” to accelerate the diversification into new growth areas for Advance, the firm said. She will also work to strengthen its existing businesses through acquisitions, investments and partnerships.
“Based on our long association with Janine, we are confident that she is the right person to take on this critical role for us,” said Steve Newhouse, copresident of Advance. “Like all media companies, we are living through a period of unprecedented disruption and innovation. We see tremendous opportunity to strategically deploy capital to move us in new directions, and to help our existing businesses capitalize on their great potential.”
Shelffo offered: “Advance has a storied history as one of the most successful investors and operators in the sector I have spent my investment banking career covering, and I have gotten to know them well through my work for UBS. I am excited to join Advance at this juncture where the company is uniquely well positioned to use its significant capital resources, as well as its strategic and operating resources, to foster growth and transformation.”
The exec, who has more than two decades of Wall Street experience under her belt has advised Advance while at UBS, notably on last year’s sale of Bright House Networks to Charter Communications. She has also consulted with Advance’s business units, and most recently helped shape the growth and acquisition strategy for Condé Nast Entertainment, the video arm of Condé Nast.
Janine has been a thoughtful and perceptive advisor to Advance and to our business units,” Newhouse continued. “We look forward to having her fully dedicate her focus to enhancing our position as a global media and technology company with outstanding prospects for growth.”
Shelffo has been advising companies and their boards on strategic transactions throughout her investment banking career. At UBS, she has co-chaired the Diversity & Inclusion Council in the Americas. Prior to joining UBS in 2008, she covered the sector for other investment banks including Lehman Brothers, Credit Suisse and Donaldson Lufkin & Jenrette.