NEW YORK, April 16, 2021 /PRNewswire/ -- Medley
Management Inc. (the "Company"), (NYSE: MDLY) announced today the
promotions of Howard Liao to Chief
Executive Officer ("CEO"), Dean
Crowe to President and David
Richards to Chief Operating Officer effective May 3, 2021. Howard
Liao succeeds co-CEOs Brook
Taube and Seth Taube each of
whom will remain co-Chairman and continue to support the existing
management team and provide strategic guidance.
"On behalf of our Board of Directors, we are pleased to announce
these well-deserved promotions of our existing management
team," said Brook Taube.
"Howard, Dean and Dave are proven and respected executives who I am
confident will lead Medley to great success in the years to
Mr. Liao said, "I am honored to be named the next CEO of Medley,
and want to thank both Brook and Seth and the Board for the
confidence they have placed in me, Dean and Dave to lead Medley
Mr. Liao is currently the Chief Investment Officer and will
retain this title. Mr. Richards is currently the Chief Credit
Officer and will retain this title.
Medley is an alternative asset management firm offering yield
solutions to retail and institutional investors. Medley
has $2.9 billion of assets under management in one
business development company, Sierra Income Corporation, and
several private investment vehicles. Over the past 19 years,
Medley has provided capital to over 450 companies across 35
industries in North America.1
Medley LLC, the operating company of Medley Management Inc., has
outstanding bonds which trade on the NYSE under the symbols
(NYSE:MDLX) and (NYSE:MDLQ).
Statements included herein may contain "forward-looking
statements." Statements other than statements of historical facts
included in this press release may constitute forward-looking
statements and are not guarantees of future performance or results
and involve a number of assumptions, risks and uncertainties, which
change over time. Actual results may differ materially from those
anticipated in any forward-looking statements as a result of a
number of factors, including those described from time to time in
filings by the Company with the Securities and Exchange Commission
(the "SEC"), including those described in the section "Risk
Factors" in the Company's Annual Report on Form 10-K for the fiscal
year ended December 31, 2020.
Such forward-looking statements include, without limitation: the
impact of COVID19 on our business; the ability of the Company to
continue as a going concern; the timing and outcome of the SEC's
investigation and pending Chapter 11 proceedings; Medley LLC's
ability to repay, refinance or restructure its debt; general
volatility of the capital markets and the market price of our
common stock; availability, terms and deployment of capital; and
availability of qualified personnel. These and other risk factors
are more fully discussed in the Company's filings with the SEC.
Except as required by law, the Company undertakes no duty to
update any forward-looking statement made herein. All
forward-looking statements made herein speak only as of the date of
this press release.
Medley LLC's filings with the Securities and Exchange
Commission, press releases, earnings releases and other financial
information are available at www.mdly.com.
Head of Capital Markets & Risk Management
Medley Management Inc.
Jonathan Gasthalter/Nathaniel Garnick
Gasthalter & Co. LP
1 Medley Management Inc. is the parent company
of Medley LLC and several registered investment advisors
(collectively, "Medley"). Assets under management refers to assets
of our funds, which represents the sum of the net asset value of
such funds, the drawn and undrawn debt (at the fund level,
including amounts subject to restrictions) and uncalled committed
capital (including commitments to funds that have yet to commence
their investment periods). Assets under management are as of
December 31, 2020.
SOURCE Medley Management Inc.