GWG Holdings, Inc. Announces New Key Accounts Team
MINNEAPOLIS, Feb. 23, 2015 /PRNewswire/ -- GWG Holdings, Inc. (NASDAQ: GWGH) ("GWG" or the "Company"), a specialty finance company and leader in the life settlement market, announces the appointment of key executives to lead the company's capital markets group. Mark V. Petersen will lead the group as GWG's Head of Capital Markets and Betsy Ward will serve as Director of Business Development. Mark and Betsy will lead the rest of the GWG team in the continued roll out of the company's $1 Billion L Bond, which was launched in January 2015.
"GWG is extremely pleased to have these two experienced financial professionals join our efforts at empowering consumers and investors to benefit from the value of the secondary market for life insurance," said Jon Sabes, GWG Chief Executive Officer, continuing, "We are fortunate that these very qualified individuals will lead and manage our key account relationships, and work closely with our growing network of broker dealers, and financial and investment advisors."
Mark V. Petersen brings more than 25 years of experience in the financial services industry to the GWG team. He has held various leadership roles in retail and institutional securities sales and national account management. Mr. Petersen also has a wealth of experience with investment management firms, raising capital through institutions, RIAs and family offices. "This important experience allows me to bring extensive knowledge and valuable relationships to my role at GWG," said Mr. Petersen, continuing, "I am excited to join GWG as I see the value of the platform and how it provides both investors and advisors solutions for their financial planning needs."
Betsy Ward brings over 23 years of experience working in the financial services industry. Her background includes working with several different financial product sponsors, most recently specific to the alternative industry. "I was familiar with GWG and was watching the firm grow. I could see innovative things were happening and I wanted to be a part of it," she said.
Ms. Ward's role at GWG will focus on supporting and expanding the company's national key accounts. "Adding GWG's offerings to their platform means broker-dealers can offer a truly non-correlated alternative investment product to their advisors and clients through the GWG L Bond," said Ms. Ward. In addition, GWG works with advisors to help their clients sell their unwanted, unneeded and unaffordable life insurance policies through a life settlement, providing their clients with more financial resources for retirement and living expenses.
About GWG Holdings, Inc.:
GWG Holdings, Inc. (NASDAQ: GWGH) is a specialty finance company and leader in the life settlement market. GWG, through its subsidiaries, purchases life insurance policies from seniors who no longer want, need or can afford their policies. GWG typically pays these seniors five to eight times more than the cash surrender values paid by insurance companies. GWG's strategy is to efficiently source, own, and manage these non-correlated assets at yields that exceed the costs needed to purchase and finance the policies (in aggregate). GWG finances the purchase and maintenance of a portfolio of policies primarily through a fixed income alternative investment product that is offered through independent broker-dealers and registered investment advisors across the country. GWG's goal is to generate financial returns for GWG's investors and shareholders while providing valuable financial solutions to seniors.
Since 2006, GWG has purchased more than $1.7 billion in life insurance policy benefits. GWG has paid seniors over $283 million through life settlements – approximately $266 million more than the surrendered value offered by their insurance carriers. For more information about GWG, email [email protected] or visit www.gwglife.com.
SOURCE GWG Holdings, Inc.
Share this article