Business
Appointment of new Chief Financial Officer
Appointment of new Chief Financial Officer.
About this update from Litigation Capital Management Ltd
[{"type":"text","content":"\n\n18 June 2024\n \nLitigation Capital Management Limited\n(\"LIT\", the \"Company\" or the \"Group\")\n \nAppointment of new Chief Financial Officer\n \nLitigation Capital Management Limited (AIM:LIT), an alternative asset manager specialising in dispute financing solutions internationally, announces the appointment of a new Chief Financial Officer, David Collins.\n \nThe Board is pleased to announce the appointment of David Collins as CFO, effective as at todays date. David is a Chartered Accountant and brings over 20 years of experience in senior finance and capital markets roles across a range of leading institutions including EY, Morgan Stanley, Och-Ziff Capital (now Sculptor Capital) and Prudential plc. David also brings considerable experience of the legal finance industry having previously been CFO of Vannin Capital, a leading litigation funder that was acquired by Fortress Investment Group in 2019. Since early 2024 David has been acting as a financial advisor to LCM and knows the business and the legal finance industry well. David will not initially be a member of the Board, but, is considered a Person Discharging Managerial Responsibilities (\"PDMR\"). David is however expected to join LCM's board in due course.\n \nMary Gangemi will step down from her position after a period of transition at which time it is expected she will resign her position on the board. A separate RNS will be issued at that time. Mary has served the Company for some four and a half years, during which time she has significantly contributed to the company's growth and financial strategy.\n \nJonathan Moulds, Chairman of LCM, said; \"I am delighted to announce the appointment of David Collins as our next Chief Financial Officer. David's significant financial and capital markets experience will be of tremendous value to us as we transition our business from being a balance sheet investor to becoming a third-party asset manager with a highly attractive economic model. We are thankful for Mary's dedicated service and the contribution she has made to our financial health and operational success.\"\n \nPatrick Moloney, Chief Executive Officer of LCM, said; \"I would like to extend my gratitude to Mary for her contribution to LCM over the past four and a half years. I wish her the very best in her futur...