NEW YORK, July 17, 2012 /PRNewswire/ -- Gold Bullion International LLC (GBI), a leading provider of precious metals to investors and the wealth management industry, today announced the appointments of Steven M. Feldman as Chief Executive Officer and Eric S. Schwartz as Chairman of the Board.
Feldman co-founded GBI in 2009 and in his role as CEO will focus on strategy and business development. He joins the company full-time after a long career at Goldman Sachs, where he was a partner and specialized in real assets. He was founder and head of the investment banking firm's global infrastructure fund business, which held over $10B under management during his tenure. He also held several high level real estate investing and banking roles at the firm, including serving as lead developer of its global headquarters in New York, as well as co-founder and head of its agricultural land venture.
"Results continue to prove that physical gold is a critical part of a well diversified investment portfolio, especially given today's macro risks," said Feldman. "Yet gold and other precious metals remain substantially under-owned, as they have been historically misunderstood and difficult to buy. GBI eliminates barriers to ownership by providing an institutional voice and offering, which enable investors to confidently purchase these precious metals."
Schwartz, GBI's new Chairman, is a private investor with a focus on growth-oriented companies in the financial services sector. He serves as Chairman of Jefferson National, an insurance company focused on low-cost variable annuities, and as a director of Prosper Marketplace, an online platform for consumer lending, and of Indostar Capital Finance, a finance company based in Mumbai, India. Earlier in his career, Schwartz was a Goldman Sachs partner and co-headed the Investment Management and Global Equities Divisions, and served on the firm's Management Committee.
"Eric is a tremendous asset to an already highly accomplished board," said Feldman. "He is the right person to channel the superb energy and experience of our board and I am confident he will continue to serve as a passionate and active steward of our mission."
GBI's senior management team and board currently include the following influential business, military and political leaders: General Wesley K. Clark, Arthur Levitt, John Hathaway, Sallie Krawcheck, and Dan Tapiero who, along with Feldman, co-founded GBI.
The company's former CEO, Savneet Singh, is assuming the role of president, focusing primarily on international expansion opportunities and capital markets.
"Savneet has exceeded our expectations in every regard as CEO, and I am very proud of what he has accomplished in that role," said Feldman. "I am excited to continue working with him as GBI continues its momentum as an industry leader. We share the vision that physical gold is an essential part of an investor's diversified portfolio and GBI provides an easy and safe way to accomplish that objective."
For more information about Gold Bullion International visit: http://www.bullioninternational.com/
About Gold Bullion International:
Gold Bullion International LLC (GBI) is a leading institutional precious metals provider to individual investors and the wealth management industry. GBI's technology and operations platform allows investors to acquire and manage their physical precious metals assets directly through GBI or through their existing wealth management account relationships. Precious metals are acquired through refiners on the LBMA (gold and silver) and LPPM (platinum and palladium) list of approved refineries and through CME recognized refiners of COMEX bars and stored on behalf of investors in protected and insured vaults in New York, Salt Lake City, London, Zurich, and Melbourne, and audited by one of the Big Four accounting firms. GBI provides the easiest, safest and most reliable option for precious metals ownership. For more information visit www.bullioninternational.com
SOURCE Gold Bullion International LLC