Hudson Holding Corp. Adds Former Chairman and CEO of Knight, Ken Pasternak, Former President of Jefferies Group, John Shaw and Jack Mascone of The Seaport Group as Board Directors

Jan 07, 2010, 10:26 ET from Hudson Holding Corporation

JERSEY CITY, N.J., Jan. 7 /PRNewswire-FirstCall/ -- Hudson Holding Corporation (OTC Bulletin Board: HDHL), parent of Hudson Securities, Inc., today announced that three new independent directors, Kenneth D. Pasternak, John C. Shaw Jr. and John (Jack) W. Mascone, all with broad industry expertise, have been elected to the Board of Directors at the firm's Annual Meeting of Stockholders held this past December. Mr. Pasternak has been appointed Chairman of the Board by the Board of Directors. The Hudson Holding Corp. Board now consists of five independent directors, and two members of management.

"I am delighted to be working with the new slate of independent directors. A strong corporate governance structure with an independent board of this caliber is an important step for Hudson. I will draw on their vast experience as we expand Hudson's presence as a full service securities and investment banking firm with a strong wholesale market making platform. A board of this stature will be very strategic as we continue to strengthen our institutional sales effort and pursue a variety of opportunities following our recently completed financing," noted Anthony (Tony) M. Sanfilippo, the Company's Chief Executive Officer.

Newly appointed Chairman Ken Pasternak stated, "I look forward to serving in my new role as Chairman of the Board and to working with Tony, the full Board of Directors and Hudson's management team. I have invested in the company because of its vision and business model. There has been a significant consolidation in the industry, and I believe that Hudson is well positioned to leverage its highly scalable trading platform."

Ken Pasternak, a major stockholder of Hudson, co-founded Knight Capital Group, Inc. (ticker: NITE) and served as its Chief Executive Officer from its formation in 1995 until 2002. In addition to Pasternak, stockholders elected John Shaw, who retired as President and Chief Operating Officer of Jefferies Group, (ticker: JEF), after a 23 year career with that firm. Shareholders also elected Jack Mascone, Managing Director of The Seaport Group, LLC, a fixed income institutional sales and trading firm. Existing independent directors Joanne Landau and Peter Zugschwert were re-elected as were the Company's Chief Executive Officer and President.

"Hudson is in a position to significantly increase its value proposition to clients by maximizing the strategic value of its trading platform. This Board brings together individuals who understand the transformative process and are committed to making it a reality. The recent hiring of Tony Sanfilippo as CEO provides the proven management depth critical to this effort," stated new Board member John Shaw.

New Board member Jack Mascone added, "I'm delighted to bring my securities and fixed income trading expertise to the table. As a key stockholder in the company, The Seaport Group and its principals recognize Hudson's untapped potential."

Hudson Holding Corporation is a publicly traded company on the OTC Bulletin Board under the symbol "HDHL" and is the parent of Hudson Securities, Inc. and Hudson Technologies, Inc. Hudson Securities, Inc. is dedicated to meeting the liquidity needs of its clients -- institutions, hedge funds, asset managers, and broker dealers -- by providing execution solutions and making markets in over 15,000 U.S. and foreign securities and ADRs. As a registered broker-dealer under the Securities Exchange Act of 1934, Hudson Securities is a member of the Financial Industry Regulatory Authority ("FINRA") and has been in business since 1984. Hudson Technologies provides technology services to Hudson Securities and client companies.

Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here; however, readers should review carefully reports or documents the Company files periodically with the Securities and Exchange Commission.

    Anthony (Tony) M. Sanfilippo  Keith R. Knox   Andrew Lewin
    CEO                           President       Investor Relations
    201-216-0100                  201-216-0100

SOURCE Hudson Holding Corporation