Beneficient Hires Industry Veteran Louise Jones to Lead Capital Markets and Custody Business Line Operations
10 Dezembro 2024 - 9:00AM
Beneficient (NASDAQ: BENF) (“Ben” or the “Company”), a
technology-enabled platform providing exit opportunities and
primary capital solutions and related trust and custody services to
holders of alternative assets through its proprietary online
platform AltAccess, announced the hiring of Louise Jones as
Managing Director of Capital Markets and Custody Operations.
Beneficient hired Ms. Jones In connection with the Company’s
recently announced transaction to acquire Mercantile Bank
International Corp. (“Mercantile Bank”), an International Financial
Entity (“IFE”). Among others, the authorized activities of IFEs may
include custody, clearing, and payments and related traditional and
digital products and services. Ms. Jones is expected to manage the
integration of Mercantile Bank and spearhead the expansion of the
Company’s fee-based alternative asset custody business, including
the launch of a depositary receipt companion business line.
“We are thrilled to have Louise join Beneficient at a critical
juncture in advance of integrating Mercantile Bank into our
existing business while expanding our products and services,” said
Beneficient. “Her deep experience and leadership will be critical
as we manage our capital markets activities, grow our core
alternative asset custody-related businesses, and commence a
depositary receipt companion business line that we believe will be
an important area of potential growth.”
Immediately prior to joining the Company, Ms. Jones was engaged
as a consultant for the current owner of Mercantile Bank and was
tasked with facilitating its sale to a third party. Ms. Jones’
career on Wall Street spans four decades, beginning when she was
the youngest woman to hold a seat as a member of the New York Stock
Exchange (“NYSE”) and later served on various NYSE member
committees and was nominated for Governor of the NYSE.
Additionally, Ms. Jones led NYSE’s development and adoption of
handheld technology, transforming floor trading and execution. She
went on to co-found one of the largest independent NYSE floor
brokerage operations, Cassidy, Jones & Co., Inc., which she
ultimately successfully sold to Sungard Global. Her tenure as a
senior financial advisor at Merrill Lynch and managing director of
originations for Exworks Capital further underscores her
multifaceted skill set that includes understanding diverse
financial products, cultivating strategic partnerships and driving
business development.
Her leadership transcends the trading floor; she built, owned
and operated Sydney’s Playground, New York City’s largest indoor
playground and was the only adoptee to serve on the Board of the
New York Foundling Hospital.
Ms. Jones holds FINRA-registered licenses Series 7, 27, 63 and
66.
About Beneficient
Beneficient (Nasdaq: BENF) – Ben, for short – is on a mission to
democratize the global alternative asset investment market by
providing traditionally underserved investors − mid-to-high net
worth individuals, small-to-midsized institutions and General
Partners seeking exit options, anchor commitments and valued-added
services for their funds− with solutions that could help them
unlock the value in their alternative assets. Ben’s AltQuote™ tool
provides customers with a range of potential exit options within
minutes, while customers can log on to the AltAccess® portal to
explore opportunities and receive proposals in a secure online
environment.
Its subsidiary, Beneficient Fiduciary Financial, L.L.C.,
received its charter under the State of Kansas’ Technology-Enabled
Fiduciary Financial Institution (TEFFI) Act and is subject to
regulatory oversight by the Office of the State Bank
Commissioner.
For more information, visit www.trustben.com or follow us on
LinkedIn.
Contacts
Matt Kreps: 214-597-8200, mkreps@darrowir.com
Michael Wetherington: 214-284-1199,
mwetherington@darrowir.com
Investor Relations:
investors@beneficient.com
Disclaimer and Cautionary Note Regarding Forward-Looking
Statements
Certain of the statements contained in this press release are
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These forward-looking
statements can be generally identified by the use of words such as
“anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,”
“may,” “plan,” “potential,” “predict,” “project,” “should,”
“target,” “will,” “would,” and, in each case, their negative or
other various or comparable terminology. The forward-looking
statements contained in this press release include, without
limitation, statements relating to the anticipated timing of
closing the acquisition, benefits of the acquisition and the
Company’s anticipated product and service offerings following the
closing of the acquisition. These forward-looking statements
reflect our views with respect to future events as of the date of
this document and are based on our management’s current
expectations, estimates, forecasts, projections, assumptions,
beliefs and information. Although management believes that the
expectations reflected in these forward-looking statements are
reasonable, it can give no assurance that these expectations will
prove to have been correct. All such forward-looking statements are
subject to risks and uncertainties, many of which are outside of
our control, and could cause future events or results to be
materially different from those stated or implied in this document.
It is not possible to predict or identify all such risks. These
risks include, but are not limited to, the ultimate outcome of the
acquisition; the Company’s ability to consummate the acquisition in
a timely manner or at all; the ability of the parties to satisfy
the closing conditions to the acquisition; the possibility that the
Company may be unable to successfully integrate Mercantile Bank’s
operations with those of the Company or realize the expected
benefits of the acquisition; the possibility that such integration
may be more difficult, time-consuming, or costly than expected; the
risk that operating costs, customer loss, and business disruption
(including, without limitation, difficulties in maintaining
relationships with employees, contractors, and customers) may be
greater than expected following the acquisition or the public
announcement of the acquisition; [the Company’s ability to retain
certain key employees of Mercantile Bank]; risks related to the
entry into a new line of business; the risk factors that are
described under the section titled “Risk Factors” in our Annual
Report on Form 10-K, Quarterly Reports on Form 10-Q, Current
Reports on Form 8-K, and other filings with the Securities and
Exchange Commission (the “SEC”). These factors should not be
construed as exhaustive and should be read in conjunction with the
other cautionary statements that are included in this document and
in our SEC filings. We expressly disclaim any obligation to
publicly update or review any forward-looking statements, whether
as a result of new information, future developments or otherwise,
except as required by applicable law.
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