Long Term Care CEO to keynote Financial Exec Awards breakfast


Paul Forte, CEO of Portsmouth-based Long Term Care Partners, will deliver keynote remarks at NHBR's first Financial Executive of the Year Awards breakfast reception on Tuesday, May 15, in Manchester.Presented by KBW Financial Staffing & Recruiting, the inaugural event will honor New Hampshire financial executives in five different categories for their outstanding fiscal leadership and asset management."The role of the CFO is critical to long-term business success," said Forte, who has been head of the company since it was formed in 2002. "The chief financial people must be able to shape a long-term, sustainable business model."Of the 25 nominations submitted, judges selected five winners who have made significant, demonstrable contributions to the financial health of their organizations and to the greater New Hampshire business community.The honorees are: • Large for-profit company: Lucy T. Gobin, Centrix Bank, Bedford • Medium for-profit company: Ernest J. Simmons Jr., Contour Design Inc., Windham • Small for-profit company: Michael W. Hawkins, Resonetics LLC, Nashua • Large nonprofit: Henry Lipman, LRGHealthcare, Laconia • Small nonprofit: Lisa Allard, Families in Transition, ManchesterThe event will be held from 7 to 9 a.m. at the Radisson Center of New Hampshire in Manchester, with breakfast and networking in the first hour and the awards ceremony to follow.In his remarks, Forte said he will touch on the role that exemplary financial executives play in helping their organizations survive a downturn and finance their strategic goals.An early pioneer in the field of long-term care, Forte was among the first to begin marketing long-term care policies in the 1980s and was instrumental in implementing large group long-term care contracts for organizations including IBM, SBC Communications (now AT&T) and the City University of New York.In the late '90s, when the federal government was looking for a long-term care insurance policy for federal employees, Forte headed John Hancock's steering committee on the bid for the program. Because the government wanted a consortium of companies, a joint bid with MetLife was accepted in December 2001.Shortly thereafter, Long Term Care Partners was formed at Pease International Tradeport to administer the federal program.Forte was named CEO and has driven it through tremendous growth, including securing another major federal contract in 2006 to administer the federal dental and vision program.LTCIP now has more than 270,000 enrollees and the company employs about 300 full-time people."We're very proud of the fact that even though we live in a relatively quiet and obscure pocket of Pease Tradeport, across from the K-9 dog kennel, the (police) dog training facility, and not far from Great Bay, which has nothing but herons, we are actually administering two very large programs for the federal government of the United States," said Forte.But growth has not always been easy, especially when dealing with the uncertainty of federal contracts, meeting stringent performance metrics and maintaining a high level of transparency, said Forte.Because of such concerns, today's financial executives "can't be simply good at cost-cutting or expense management or spreadsheets and analyses," said Forte. "The person has to try to help other senior managers to track the future course of the company, and to grow the company, because one thing you know every year, the costs are going to be going up."The 2012 Financial Executive Award are sponsored by Hampshire First Bank, Cook, Little, Rosenblatt & Manson, Howe, Riley & Howe and the Financial Management Association of New Hampshire.For more information or to purchase tickets for the event, which cost $40, visit nhbr.com/financialexecutiveawards. - KATHLEEN CALLAHAN
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