NEW YORK, Jan. 29, 2014 /PRNewswire/ -- CIFC Corp. (NASDAQ: CIFC) ("CIFC" or the "Company") announced today the appointment of Ehud Barak and Marco Musetti to its Board of Directors (the "Board").
Mr. Ehud Barak is an internationally renowned leader and statesman, who most recently served as the Defense Minister of Israel (2007-2013). He announced his retirement from politics in 2013 after almost two decades at the top ranks of the Israeli government, including terms as Israel's 10th Prime Minister, Minister of Foreign Affairs, and Minister of the Interior. Prior to his political career, Mr. Barak had an illustrious 36-year military career that included various top posts in the Israel Defense Forces (IDF), including the Head of Planning, Head of Military Intelligence, Commander of the Central Command, Deputy Chief of Staff, Commander of Sayaret Matkal (Israel's Elite Commando Unit), and ultimately culminating in his tenure as the Chief of General Staff for the IDF from 1991-1995. Based on his distinguished military career, Mr. Barak is widely recognized as the most decorated soldier in the history of the IDF. In addition to his political and military experience, during a hiatus from public life (2001-2007), Mr. Barak entered the private sector, where he consulted and acted as a strategic adviser for a number of prestigious private equity firms and hedge funds, as well as consulting on security-related issues and earning accolades on the international lecture circuit. Mr. Barak has a M.S. in Engineering-Economic Systems from Stanford University in California and a B.S. in Physics and Mathematics from the Hebrew University of Jerusalem.
Mr. Musetti has been a senior officer at Renova Management AG, Zürich, Switzerland since 2007. Currently he serves as a member of the supervisory board of Renova U.S. Holdings, Ltd. (since 2009), a member of the board of directors of Sulzer AG, Winterthur, Switzerland (since 2011), the Chairman of the Board of Energetic Source Spa, Milan, Italy (Renova group company since 2013), and a member of the Board of Schmolz & Bickembach AG, Emmenbrucke, Switzerland (since 2013). From 1992 to 1998, he was the deputy head of the metals desk at Banques Bruxelles Lambert (Suisse) S.A., Geneva (Switzerland) and from 1998 to 2000, he worked for Banque Cantonale Vaudoise, Lausanne (Switzerland) as the head of the metals and structured finance desk. Between 2000 and 2007, Mr. Musetti acted as the COO and the deputy CEO for Aluminum Silicon Marketing GmbH, Zug (Switzerland). From 2008 to 2013, he was the deputy chairman of Venetos Management AG, Zurich (Switzerland), a Renova group company. Between 2007 and 2013, he served as the Chairman of the board of directors of Avelar Energy Ltd., Zurich (Switzerland), a Renova group company. Mr. Musetti has a major degree in economics from the University of Lausanne (Switzerland) and a Master of Science in Accounting and Finance from the London School of Economics and Political Science (United Kingdom).
Commenting on the appointments, Andrew Intrater, a member of the Board and the Chief Executive Officer of Columbus Nova, the Company's majority shareholder, stated, "We are very fortunate to have Marco Musetti and Ehud Barak join our Board of Directors. Each of them brings a rich background in international commerce, project oversight and team building in their respective and diverse careers. I know each of them to be very professional, creative and enthusiastic people – the very kind of resources that the company can use to grow well into the future."
CIFC is a fundamentals-based, relative value credit manager. Our senior management team averages 30 years of credit experience having managed credit businesses in every cycle since the 1980's. Headquartered in New York, CIFC is an SEC registered investment adviser and a publicly traded company (NASDAQ: CIFC). We currently serve over 200 institutional investors globally. For more information, please visit CIFC's website at www.cifc.com.
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 which reflect CIFC's current views with respect to, among other things, CIFC's operations and financial performance. You can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "approximately," "predicts," "intends," "plans," "estimates," "anticipates" or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. CIFC believes these factors include but are not limited to those described under the section entitled "Risk Factors" in its Annual Report on Form 10-K for the fiscal year ended December 31, 2012, as such factors may be updated from time to time in its periodic filings with the Securities and Exchange Commission, which are accessible on the SEC's website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in the filings. CIFC undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.
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