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GWG Holdings Adds Three New Directors to its Deeply Experienced Board

1072 Days ago

MINNEAPOLIS, June 12, 2019 (GLOBE NEWSWIRE) -- GWG Holdings, Inc. (Nasdaq: GWGH) announced that it has expanded its Board of Directors to 14 members, with the addition of three new members. The new members join an existing board whose directors’ backgrounds range from the highest executive levels of financial services, energy and real estate to national business media, big four accounting and the Federal Reserve.

The three new board members are:

  • Kathleen J. Mason, a consultant with the international advisory firm Third Bridge and former President and Chief Executive Officer of Tuesday Morning Corporation
  • Dennis P. Lockhart, a professor in the Nunn School of International Affairs at Georgia Tech University, who served as President and Chief Executive Officer of the Federal Reserve Bank of Atlanta from 2007 to 2017
  • David F. Chavenson, the former Treasurer of Alon USA Energy Company who has worked as a financial executive for firms across the energy and transportation industries

The number of directors on the GWGH Board was recently increased in conjunction with the expansion of the company’s strategic transaction with The Beneficient Company Group, L.P. (BEN) that was completed in late April 2019. The Board is led by Chairman Brad K. Heppner, who also serves as Chairman and Chief Executive Officer of BEN.

“We are pleased to have a Board of Directors comprised of professionals who bring deep and varied experience to bear,” said GWGH Chief Executive Officer Murray Holland. “Our directors’ vast expertise significantly furthers the company’s objective of providing value to all our constituents, from financial advisors and the clients they serve to GWGH employees and shareholders.”

The other directors of the GWGH Board are:

  • Chairman of the Board Brad K. Heppner, the Chairman and CEO of BEN and Heritage Highland Companies, and founder and CEO of The Crossroads Group, a fund-of-funds that was sold to Lehman Brothers in 2012 and is now held by Neuberger Berman
  • Lead independent director David H. Glaser, the former Chief Operating Officer of Bank of America Merrill Lynch’s Global Corporate and Investment Bank
  • Peter T. Cangany, Jr., Partner of Ernst & Young, LLP from 1993-2017
  • Michelle Caruso-Cabrera, CEO of MCC Productions and former chief international correspondent for CNBC and co-anchor of the business network’s popular program “Power Lunch”
  • David H. De Weese, Partner of Paul Capital Advisors and Chairman of the Board of Capacitor Sciences, Inc.
  • Richard W. Fisher, former President of the Federal Reserve Bank of Dallas and member of the Federal Open Marketing Committee
  • Thomas O. Hicks, founder and Chairman of Hicks Holdings, LLC
  • Bruce W. Schnitzer, Chairman of Wand Partners and The Institute of Human Origins; former President and CEO of insurance brokerage and risk management firm Marsh, Inc.
  • Roger T. Staubach, founder of the Staubach Company, a real estate firm that grew to 68 offices and 1,800 employees before it was sold to Jones Lang LaSalle in 2008 for $613 million
  • Sheldon I. Stein, President of Southern Glazer’s Wine and Spirits and former Vice Chairman and Head of Southwest Investment Banking for Bank of America Merrill Lynch
  • Bruce E. Zimmerman, former CEO and Chief Investment Officer of UTIMCO, the investment corporation overseeing investments for the University of Texas and Texas A&M Systems

Biographies of the current members of the GWGH Board can be found at https://investors.gwgh.com/corporate-governance/highlights.

About GWG Holdings, Inc. (GWGH)
GWG Holdings, Inc. (Nasdaq: GWGH), is the parent company of GWG Life, Life Epigenetics and YouSurance.  GWG Life is a leading provider of liquidity to owners of life insurance policies and owns a portfolio of life insurance assets with a face value of $1.96 billion as of September 30, 2018. Life Epigenetics is commercializing epigenetic technology for the longevity life insurance industry and other industries. YouSurance is a digital life insurance agency working to embed epigenetic testing into life insurance products to provide consumers a value-added ecosystem that supports their health and wellness. For more information about GWGH, visit www.gwgh.com.


For GWG Holdings 
Dan Callahan
(612) 746-1935

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