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
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Litigation Capital Management
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c/o Tavistock
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Patrick Moloney, Chief Executive
Officer
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Canaccord (Nomad and Joint Broker)
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Tel: 020 7523 8000
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Bobbie Hilliam / Alex Orr
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Investec Bank plc (Joint Broker)
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Tel: 020 7597 5970
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David Anderson
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Tavistock (PR and IR)
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Tel: 020 7920 3150
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Tim Pearson / Katie
Hopkins
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lcm@tavistock.co.uk
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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