REG - Litigation Cap. Mgmt - Appointment of new Chief Financial Officer

Litigation Capital ManagementAnnouncement

18/06/2024 07:00

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RNS Number : 7811S  Litigation Capital Management Ltd  18 June 2024

18 June 2024

 

Litigation Capital Management Limited

("LIT", the "Company" or the "Group")

 

Appointment of new Chief Financial Officer

 

Litigation 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.

 

The 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.

 

Mary 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.

 

Jonathan 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."

 

Patrick 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 future endeavours. I am also excited to
welcome David to our team. He brings a wealth of experience and a strong track
record in financial leadership. We see significant opportunities in our
markets to drive meaningful shareholder value creation and I am sure that
David will play a pivotal role in helping us capitalise on them. Our business
continues to perform well and we look forward to updating our investors when
we present our results for our 2024 financial year in September."

 

Enquiries

 

 Litigation Capital Management             c/o Tavistock
 Patrick Moloney, Chief Executive Officer

 Canaccord (Nomad and Joint Broker)        Tel: 020 7523 8000
 Bobbie Hilliam / Alex Orr

 Investec Bank plc (Joint Broker)          Tel: 020 7597 5970
 David Anderson

 Tavistock (PR and IR)                     Tel: 020 7920 3150
 Tim Pearson / Katie Hopkins               lcm@tavistock.co.uk (mailto:lcm@tavistock.co.uk)

 

NOTES TO EDITORS

Litigation Capital Management (LCM) is an alternative asset manager
specialising in disputes financing solutions internationally, which operates
two business models. The first is direct investments made from LCM's permanent
balance sheet capital and the second is third party fund management. Under
those two business models, LCM currently pursues three investment strategies:
Single-case funding, Portfolio funding and Acquisitions of claims. LCM
generates its income from both its direct investments and also performance
fees through asset management.

 

LCM has an unparalleled track record driven by disciplined project selection
and robust risk management. Currently headquartered in Sydney, with offices in
London, Singapore, Brisbane and Melbourne, LCM listed on AIM in December 2018,
trading under the ticker LIT.

 

www.lcmfinance.com (http://www.lcmfinance.com/)

 

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