Teresa M. Nilsen has been promoted to president of Novato-based wealth management firm, Hennessy Advisors, Inc.

“Terry Nilsen has been instrumental to the company’s success over the past 28 years,” stated founder Neil J. Hennessy in the company’s announcement. “While I will continue in an active role in the company, I am excited to welcome Terry as our new leader. I am confident in her abilities, and I have witnessed firsthand her commitment, focus, and integrity. She is both talented and thoughtful.”

Nilsen has served as an executive vice president, CFO, secretary, and director of the company since 1989. The company stated that Nilsen will continue to serve as Hennessy Advisors’ Chief Operating Officer and secretary. Hennessy will remain the company’s chairman of the board and CEO.

In connection with Nilsen’s promotion to president, Kathryn R. Fahy has been promoted to CFO with a senior vice president title. Fahy has been employed by the company since 2006, most recently serving as its director of Finance and Controller. Before joining the company, Fahy worked as a public accountant for Deloitte & Touche LLP and as a senior internal auditor for Knight Ridder, Inc. She is also a certified public accountant.

The company also appointed Brian Carlson as chief compliance officer with a senior vice president title. Carlson will continue to serve as the Company’s Head of Distribution, a position he has held since 2013.

Nilsen was a 2017 winner of a Business Journal Women in Business Award. Read her profile. Hennessy announced in December it had completed its acquisition of the assets of Rainer Large Cap Equity Fund and Rainer Mid Cap Equity Fund.