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TORONTO, Jan. 12, 2021 (GLOBE NEWSWIRE) -- Mount Logan Capital Inc. (NEO: MLC) (“Mount Logan,” or the “Company”) announces that Chief Financial Officer and Corporate Secretary Edward (Ted) Gilpin has communicated his plans to retire and that Jason T. Roos will succeed him as the Company’s Chief Financial Officer and Corporate Secretary effective as of March 1, 2021. Mr. Gilpin will remain Chief Financial Officer and Corporate Secretary through March 1, 2021 to ensure a smooth transition, following which Mr. Roos will formally assume these positions.
“It's been my pleasure to serve as the Company’s Chief Financial Officer during a time that the Company continued to grow and scale its business and accelerate its transition to an asset light business model,” said Mr. Gilpin.
“Ted became Chief Financial Officer in October 2019 and brought a wealth of experience from his more than 30 year career which included senior positions at various public and private organizations, including most recently as Chief Financial Officer and Treasurer at Portman Ridge Finance Corporation, a Nasdaq listed, closed-end, externally managed, business development company in the U.S., a position which Ted will concurrently be retiring from,” said Ted Goldthorpe, the Company’s Chief Executive Officer. “I personally want to thank Ted for being a trusted advisor and business partner, and for his leadership, significant contributions and personal dedication the Company during a critical period of growth and execution of the Company’s business strategy.”
“We are confident that Jason’s years of experience spent in senior financial roles will be integral to the Company as we continue grow and strengthen our business over the coming years,” commented Mr. Goldthorpe.
Mr. Roos joined BC Partners LLP in May 2020 and brings nearly 20 years of experience in financial roles, most recently as Credit Product CFO, where he is responsible for the integrity and accuracy of financial reporting and the overall control environment of the credit business. Prior to joining BC Partners, Mr. Roos served in various roles with Wells Fargo & Company from 2011 to 2020, including serving as Controller for Wells Fargo’s investment bank and institutional broker dealer, Wells Fargo Securities. Prior to that, from 2002 to 2011, Mr. Roos provided audit and advisory services to financial institutions at PricewaterhouseCoopers LLP. Mr. Roos earned his B.A. in accounting and finance from the University of Northern Iowa and is a Certified Public Accountant registered in New York, Iowa, and Minnesota.
About Mount Logan Capital Inc.
Mount Logan Capital Inc. is an alternative asset management company that is focused on public and private debt securities in the North American market. The Company seeks to source and actively manage loans and other debt-like securities with credit-oriented characteristics. The Company actively sources, evaluates, underwrites, monitors and primarily invests in loans, debt securities, and other credit-oriented instruments that present attractive risk-adjusted returns and present low risk of principal impairment through the credit cycle.
Cautionary Notes
This press release contains forward-looking statements and information within the meaning of applicable securities legislation (collectively referred to herein as “forward-looking statements”). Forward-looking statements can be identified by the expressions "seeks", "expects", "believes", "estimates", "will", "target" and similar expressions. The forward-looking statements are not historical facts, but reflect the current expectations of management of the Company regarding future results or events and are based on information currently available to them. Certain material factors and assumptions were applied in providing these forward-looking statements. The forward-looking statements discussed in this press release may include, but are not limited to, statements relating to the Company’s transition to an asset-light business model, statements relating to the growth and scale of the Company’s business, statements relating to the timing for the appointment of the new Chief Financial Officer and Corporate Secretary and statements relating to the business and future activities of the Company. All forward-looking statements in this press release are qualified by these cautionary statements. The Company believes that the expectations reflected in forward-looking statements are reasonable based on upon the information available at the time such information was given; however, the Company can give no assurance that the actual results or developments will be realized by certain specified dates or at all. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including that the Company has a limited operating history with respect to an asset-light business model as well as the matters discussed under "Risk Factors" in the most recently filed annual information form and management’s discussion and analysis for the Company. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made. The Company undertakes no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances except as required by securities laws. The forward-looking statements in this press release are made as of the date of this press release.
This press release is not, and under no circumstances is it to be construed as, a prospectus or an advertisement, and the communication of this press release is not, and under no circumstances is it to be construed as, an offer to sell or a solicitation of an offer to purchase securities of the Company. This press release is not intended for U.S. persons. The Company’s shares are not and will not be registered under the U.S. Securities Act of 1933, as amended, and the Company is not and will not be registered under the U.S. Investment Company Act of 1940 Act (the “1940 Act”). U.S. persons are not permitted to purchase the Company’s shares absent an applicable exemption from registration under each of these Acts. In addition, the number of investors in the United States, or which are U.S. persons or purchasing for the account or benefit of U.S. persons, will be limited to such number as is required to comply with an available exemption from the registration requirements of the 1940 Act.
For additional information, please contact:
Edward Gilpin, Chief Financial Officer and Corporate Secretary
ted.gilpin@mountlogancapital.ca