The U.S. Federal Services Segment (Federal Segment) at Maximus has grown significantly in revenue and reputation over the last 10 years. Our federal business leader, Tom Romeo, deserves much of the credit for this success. Tom joined Maximus in 2011 and proceeded to guide the Federal Segment from a modest operation into a $1.6 billion business that is a major player in the federal contracting market. Over his tenure, Tom led several major business acquisitions, fostered the growth of an industry-leading technology portfolio, and ensured stability for our people and government clients during the pandemic. This strategic leadership and keen understanding of an ever-changing environment positioned the Federal Segment as a key growth area for Maximus for many years to come.
With our Federal Segment on solid footing, Tom has begun transitioning towards retirement and will pass over his leadership to Teresa “Terry” Weipert, effective April 1. Much like Tom, Terry brings a visionary leadership approach and experience that will help continue our growth trajectory. Terry’s strong background in public sector contracting, technology and operations, together with her management style is the right fit to take the Segment into its next phase of growth.
Terry is a veteran of the federal contracting market with more than twenty years in global professional, business process outsourcing, and IT services. She has held roles at other industry leaders, including IBM, Unisys, and Accenture and most recently was the Vice President and Service Deliver Leader at IBM, leading their healthcare and life sciences public sector practice. Throughout her career, she has held prominent roles in leading large organizations and developed a strong track record of generating growth. In short, Terry brings a blend of deep market awareness and strong organizational leadership skills that I am confident will benefit the Federal Segment.
Our federal portfolio is in very capable hands and has a bright future with Terry. To help her become familiar with the ins-and-outs of our company and our specific clients, Tom will remain on board for four months to help ease her transition before formally retiring.
I’d like to personally thank Tom for his hard work and dedication to Maximus over the years. I’ve had the pleasure of working with Tom throughout my own career, including earlier on while at IBM, and I knew the Federal Segment was in good hands when he joined the Company. While there are many highlights from his tenure, I’d like to recognize a few notable ones.
- Early on in his tenure, Tom and his team added some major organic wins including at Federal Student Aid with the Debt Management and Collection System win, at CMS where Maximus won a significant role on the Contact Center Operations contract, as well as the Eligibility Appeals Operations support contract. Those wins provided a sound business base on which to grow.
- In 2015, Tom led the acquisition of Acentia, a provider of systems modernization, software development, program management, and information technology services to federal civilian and health agencies. This acquisition provided Maximus with access to several important contract vehicles and brought robust technology capabilities that are now foundational to the business and positioning it for the future.
- In 2018, Tom led the $400 million acquisition of GDIT’s contact center business, which included the onboarding of roughly 14,000 new employees. This strategic acquisition positioned our company as the leader in providing citizen services for government. Integrations from M&A activities are always complex and challenging, but Tom developed a thoughtful, detailed integration plan that resulted in smooth onboarding of the new employees and no interruptions to clients or their programs.
- Under Tom’s leadership, Maximus expanded the number of agencies it works with, while strengthening long-term relationships, such as the two decades of working with CMS and IRS. The Segment had a small but desirable number of federal clients when he joined, and we now have engagements across the entire federal government.
- As the executive sponsor of the recent acquisition of Attain Federal, Tom sees through a strategy that will further expand our footprint into new agencies, such as the Securities & Exchange Commission (SEC) and Department of Homeland Security (DHS) while bringing highly desirable capabilities delivered by a world-class organization.
I want to thank Tom for his tireless dedication to our clients, our staff, and to our vision of a strong and growing Federal Segment of Maximus. He leaves an impressive legacy.
Please join me also in extending a warm welcome to Terry. I know she will be embraced by our people and will appreciate our special culture. I look forward to working with her and I am excited about the Federal Segment’s future under her leadership.