AST Group Announces Leadership Transition

CFO Marty Flanigan appointed as Interim Leader

Jul 31, 2015, 14:00 ET from AST Group

NEW YORK, July 31, 2015 /PRNewswire/ -- AST Group (AST) announced today that Chief Executive Officer Mark Healy has decided to leave the company to pursue other opportunities.  Chief Financial Officer Marty Flanigan is serving as interim CEO during the search for a permanent CEO.

"During Mark's tenure as CEO, AST has undergone substantial growth and change," said Paul McCullagh, Chairman of the Board of Directors.  "We thank him for his service and his many contributions. Under his leadership, the current executive team and the entire workforce have driven outstanding performance.  Marty Flanigan is widely respected within the industry and has been deeply involved with all aspects of the company's operations."

For the past three years, Marty has served as CFO and has been responsible for supporting both the U.S. and Canadian operations. He has 30 years of experience in the financial services industry. As CFO, he has been responsible for all administrative functions of the company including accounting and finance, human resources, legal, risk management and regulatory compliance. He has also played an integral role in the design and implementation of the strategic plans that have contributed to AST's rapid growth.

As interim CEO, Marty will be supported by COO Bob Carney and the other members of the existing leadership team.

"It is an exciting time to assume this role," Marty said. "The team is deep and experienced and has delivered great results in recent years: earnings growth of 150 percent and client growth of 95 percent.  We have a full pipeline of opportunities and strategic initiatives and will continue to invest in the business, as evidenced by a number of recent acquisitions, including D.F. King and First American Stock Transfer.  We have had very strong performance in the last 12 months, with record revenue and earnings growth, and the momentum in the business remains strong."

About the AST Group

The AST Group is the leading provider of registry services and technology to financial market participants around the globe.  Its companies and divisions, which include American Stock Transfer & Transfer, LLC (AST) and CST Trust Company (CST), provide comprehensive stock transfer and employee plan services to more than 8,000 public issues and over 5.5 million shareholders.  Together, AST and CST serve clients located throughout North America.  The AST Group provides fully integrated services that include corporate proxy solicitation and advisory solutions, employee plan services, information agent, mutual fund proxy solicitation and advisory solutions, shareholder identification, asset recovery and investment management offerings.

CONTACT: Sean Smith, 212-601-8441, sean.smith@porternovelli.com

SOURCE AST Group