Beneficient Appoints Patrick J. Donegan to Board of Directors
Beneficient (NASDAQ: BENF) has appointed Patrick J. Donegan as an independent member of its Board of Directors, effective September 30, 2024. Donegan, with nearly 30 years of compliance, legal, banking, and capital markets experience, will serve on the Audit, Products and Related Party Transactions, Credit, and Enterprise Risk committees. He brings extensive expertise in regulatory compliance, particularly in the FinTech industry, holding eleven FINRA licenses and various certifications.
Donegan's professional background includes roles as Chief Compliance Officer at OKX Group and Signature Bank, as well as positions at major investment banks. His appointment aligns with Beneficient's commitment to operating with industry best practices, as stated by CEO and Chairman Brad Heppner. Donegan's expertise in risk identification and management is expected to contribute significantly to the company's governance and regulatory compliance efforts.
Beneficient (NASDAQ: BENF) ha nominato Patrick J. Donegan come membro indipendente del suo Consiglio di Amministrazione, con effetto dal 30 settembre 2024. Donegan, con quasi 30 anni di esperienza in conformità, legale, banche e mercati dei capitali, farà parte dei comitati di Audit, Prodotti e Transazioni con Parti Correlate, Credito e Rischi Aziendali. Porta con sé una vasta esperienza in materia di conformità normativa, in particolare nel settore FinTech, detentore di undici licenze FINRA e varie certificazioni.
Il percorso professionale di Donegan include ruoli come Chief Compliance Officer presso OKX Group e Signature Bank, oltre a posizioni in grandi banche d'investimento. La sua nomina è in linea con l'impegno di Beneficient a operare secondo le migliori pratiche del settore, come affermato dal CEO e Presidente Brad Heppner. L'esperienza di Donegan nell'identificazione e gestione del rischio si prevede contribuirà significativamente agli sforzi di governance e conformità normativa dell'azienda.
Beneficient (NASDAQ: BENF) ha nombrado a Patrick J. Donegan como miembro independiente de su Junta Directiva, efectivo a partir del 30 de septiembre de 2024. Donegan, con casi 30 años de experiencia en cumplimiento, legal, banca y mercados de capitales, formará parte de los comités de Auditoría, Productos y Transacciones con Partes Relacionadas, Crédito y Riesgos Empresariales. Aporta una amplia experiencia en cumplimiento regulatorio, particularmente en la industria FinTech, poseyendo once licencias FINRA y diversas certificaciones.
La experiencia profesional de Donegan incluye roles como Director de Cumplimiento en OKX Group y Signature Bank, así como posiciones en importantes bancos de inversión. Su nombramiento está alineado con el compromiso de Beneficient de operar con las mejores prácticas de la industria, como afirmó el CEO y presidente Brad Heppner. Se espera que la experiencia de Donegan en la identificación y gestión del riesgo contribuya significativamente a los esfuerzos de gobernanza y cumplimiento regulatorio de la empresa.
Beneficient (NASDAQ: BENF)는 Patrick J. Donegan을 독립 이사로 임명하였으며, 임기는 2024년 9월 30일부터 시작됩니다. Donegan은 거의 30년의 준수, 법률, 은행 및 자본 시장 경력을 가지고 있으며, 감사, 제품 및 관련 당사자 거래, 신용 및 기업 리스크 위원회에서 활동하게 됩니다. 그는 특히 FinTech 산업에서 규제 준수에 대한 광범위한 전문성을 가지고 있으며, 11개의 FINRA 라이센스와 다양한 자격증을 보유하고 있습니다.
Donegan의 전문적인 경력에는 OKX Group 및 Signature Bank의 최고 준수 책임자 역할과 주요 투자은행에서의 직책이 포함됩니다. 그의 임명은 Beneficient가 업계 모범 사례를 준수하겠다는 의지를 반영하며, CEO이자 의장인 Brad Heppner가 언급했습니다. 리스크 식별 및 관리에 대한 Donegan의 전문성은 회사의 거버넌스 및 규제 준수 노력에 상당한 기여를 할 것으로 기대됩니다.
Beneficient (NASDAQ: BENF) a nommé Patrick J. Donegan en tant que membre indépendant de son Conseil d'Administration, avec effet au 30 septembre 2024. Donegan, avec près de 30 ans d'expérience en matière de conformité, de droit, de banque et de marchés de capitaux, fera partie des comités d'Audit, de Produits et de Transactions avec des Parties Liées, de Crédit et de Risque d'Entreprise. Il apporte une expertise étendue en matière de conformité réglementaire, en particulier dans l'industrie FinTech, détenant onze licences FINRA et diverses certifications.
Le parcours professionnel de Donegan comprend des postes de Chief Compliance Officer chez OKX Group et Signature Bank, ainsi que des postes dans de grandes banques d'investissement. Sa nomination s'inscrit dans l'engagement de Beneficient à opérer selon les meilleures pratiques de l'industrie, comme l'a déclaré le PDG et Président Brad Heppner. L'expertise de Donegan en matière d'identification et de gestion des risques devrait contribuer de manière significative aux efforts de gouvernance et de conformité réglementaire de l'entreprise.
Beneficient (NASDAQ: BENF) hat Patrick J. Donegan als unabhängiges Mitglied seines Verwaltungsrats ernannt, wirksam zum 30. September 2024. Donegan bringt fast 30 Jahre Erfahrung in den Bereichen Compliance, Recht, Banking und Kapitalmärkte mit und wird Teil der Audit-, Produkt- und Transaktionen mit verbundenen Parteien-, Kredit- und Unternehmensrisikogremien sein. Er verfügt über umfangreiche Erfahrung in der regulatorischen Compliance, insbesondere in der FinTech-Branche, und hält elf FINRA-Lizenzen sowie verschiedene Zertifizierungen.
Donegans beruflicher Werdegang umfasst Positionen als Chief Compliance Officer bei OKX Group und Signature Bank sowie Stellen in großen Investmentbanken. Seine Ernennung steht im Einklang mit dem Engagement von Beneficient für branchenübliche Best Practices, wie vom CEO und Vorsitzenden Brad Heppner ausgeführt. Donegans Fachwissen in der Risikoerkennung und -management wird voraussichtlich erheblich zu den Governance- und Compliance-Bemühungen des Unternehmens beitragen.
- Appointment of an experienced independent director with extensive compliance and legal expertise
- Strengthening of Board committees with Donegan's participation in Audit, Products and Related Party Transactions, Credit, and Enterprise Risk
- Addition of valuable FinTech industry knowledge to the Board
- None.
DALLAS, Oct. 04, 2024 (GLOBE NEWSWIRE) -- Beneficient (NASDAQ: BENF) (“Ben” or the “Company”), a technology-enabled financial services holding company, today announced the appointment of Patrick J. Donegan as an independent member of the Company’s Board of Directors as of September 30, 2024. In addition to being an independent director, he was appointed to serve on the Audit, Products and Related Party Transactions, Credit and Enterprise Risk committees of the Board.
Mr. Donegan brings almost thirty years of compliance, legal, banking and capital markets experience to Ben, having held various senior compliance positions, including as Chief Compliance Officer, for bank holding companies and broker dealers and as Assistant General Counsel for a securities company. Over the course of his career, Mr. Donegan has attained eleven FINRA licenses and two certifications from the American Bankers Association, including the Certified Regulatory Compliance Mangers designation, and currently holds a Certified Anti-Money Laundering Specialist certification.
“Our Board worked to identify a new, independent director who would bring unique skills and senior experience to support Ben’s commitment to operate using industry best practices,” said Beneficient’s CEO and Chairman Brad Heppner. “I am pleased to welcome Patrick to Ben’s Board. Patrick’s extensive legal and regulatory compliance experience – specifically within the FinTech industry – will provide valuable leadership and governance insights to the Board.”
Mr. Donegan received a Bachelor of Science in Accounting from St. John’s University and a J.D. from St. John’s University School of Law. Mr. Donegan currently serves as a Senior Adviser at Premier Consulting Partners, Inc., a consulting firm focused on operational risk evaluation and compliance, and previously served as the Global Chief Compliance Officer of OKX Group from August 2023 to January 2024. From 2015 to 2023, Mr. Donegan held various leadership positions at Signature Bank, including Chief Compliance Officer, Senior Vice President and Sanctions Compliance Officer. Mr. Donegan’s professional career has also included positions with a number of prominent investment banks, including Cantor Fitzgerald, RBC, Guggenheim, BNP Paribas and Nat West, and compliance roles at Mitsubishi UFJ and Hudson City Bancorp. Through his legal experience and compliance officer roles, Mr. Donegan has developed expertise in identifying risks and establishing policies and procedure to effectively manage those risks. Mr. Donegan’s understanding of banking and capital markets rules and the related regulatory processes will benefit the Company’s efforts to maintain industry best practices across the organization.
About Beneficient
Beneficient (Nasdaq: BENF) – Ben, for short – is on a mission to democratize the global alternative asset investment market by providing traditionally underserved investors − mid-to-high net worth individuals, small-to-midsized institutions and General Partners seeking exit options, anchor commitments and valued-added services for their funds − with solutions that could help them unlock the value in their alternative assets. Ben’s AltQuote™ tool provides customers with a range of potential exit options within minutes, while customers can log on to the AltAccess® portal to explore opportunities and receive proposals in a secure online environment.
Its subsidiary, Beneficient Fiduciary Financial, L.L.C., received its charter under the State of Kansas’ Technology-Enabled Fiduciary Financial Institution (TEFFI) Act and is subject to regulatory oversight by the Office of the State Bank Commissioner.
For more information, visit www.trustben.com or follow us on LinkedIn.
Investors
Contacts
Matt Kreps: 214-597-8200, mkreps@darrowir.com
Michael Wetherington: 214-284-1199, mwetherington@darrowir.com
Investor Relations: investors@beneficient.com
Disclaimer and Cautionary Note Regarding Forward-Looking Statements
Certain of the statements contained in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements can be generally identified by the use of words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would,” and, in each case, their negative or other various or comparable terminology. These forward-looking statements reflect our views with respect to future events as of the date of this document and are based on our management’s current expectations, estimates, forecasts, projections, assumptions, beliefs and information. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. All such forward-looking statements are subject to risks and uncertainties, many of which are outside of our control, and could cause future events or results to be materially different from those stated or implied in this document. It is not possible to predict or identify all such risks. These risks include, but are not limited to, the risk factors that are described under the section titled “Risk Factors” in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other filings with the Securities and Exchange Commission (the “SEC”). These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this document and in our SEC filings. We expressly disclaim any obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law.
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