Kyle Wool Named CEO of Dominari Financial

Rhea-AI Summary

Kyle Wool has been appointed as the new CEO of Dominari Financial Inc., a subsidiary of Dominari Holdings Inc. (NASDAQ: DOMH). His role focuses on establishing a modern financial services organization aimed at wealth creation. Wool, a board member since 2021 and significant personal investor, will lead the company’s growth and acquisition strategy. Recently, Dominari Financial completed the acquisition of Fieldpoint Private Securities, marking a critical step in its growth plan. Wool's vision includes building a diversified portfolio and leveraging talent and technology to capitalize on market trends while enhancing stakeholder value.

Positive

• Appointment of experienced Wall St. executive Kyle Wool as CEO, expected to drive growth.
• Successful acquisition of Fieldpoint Private Securities signals strategic growth.
• Commitment from leadership, as evidenced by Anthony Hayes increasing his stake in the company.
• Plans to build a diversified and modern financial services organization.

Negative

• None.

Respected Wall St. Executive Recruited to Build
Dynamic Financial Services Firm

NEW YORK, March 28, 2023 /PRNewswire/ -- Mr. Kyle Wool has been named CEO of Dominari Financial Inc., the mergers & acquisition subsidiary of Dominari Holdings Inc., (NASDAQ: DOMH) and parent of newly launched broker dealer and RIA division, Dominari Securities LLC. Mr. Wool has been a board member of Dominari Holdings Inc. since 2021 and is one of the largest personal investors in the Company.

In this newly created role, Mr. Wool plans to build a dynamic and modern financial services organization that will be at the forefront of wealth creation and preservation. "We see tremendous opportunity to create a diversified and accretive portfolio of world-class assets that will rival any player in the sector," said Wool. "Our goal is to build a next generation financial services organization that leverages talent and technology to capitalize on opportunity and market trends, in order to build value for our stakeholders," he added.

On March 27, 2023, Dominari Financial finalized the acquisition of Fieldpoint Private Securities, a deal first disclosed in September 2022. This will represent Dominari Financial's first purchase since being formed in June 2022 and will serve as foundational pillar of future growth. Dominari Financial is currently in active discussions to acquire other revenue generating investments across wealth management, fintech, investment banking, alternative investments, and asset management.

As CEO, Mr. Wool will lead the acquisition and growth strategy of Dominari Financial and plans to move swiftly to realize the potential he envisions. "Market conditions are always right for a sound business strategy that breaks new ground. The Dominari model represents the future of our industry, and we are excited to partner with like-minded, forward-thinking companies to bring them into our portfolio. Hopefully my personal commitment and investment will send a strong signal to the market about the seriousness of our intent to establish Dominari Financial as a significant player in the industry," he added.

Mr. Wool is a successful Wall St. veteran, having held numerous positions across leading firms in private wealth management and asset management. As Executive Director at Morgan Stanley, he distinguished himself as a the top producer globally for one of finance's leading institutions. Earlier in his career, he was based in Hong Kong where he served as Managing Director of the Professional Investors Group for Oppenheimer Asia Ltd., one of the youngest executives to have led the region. At Dominari Financial he will work closely with company President, Carlos Aldavero, to recruit a top-tier management team and build an organizational structure to support their growth strategy. Mr. Wool and Mr. Aldavero previously worked together at Morgan Stanley.

As a vote of confidence for Mr. Wool and the aggressive growth and diversification strategy he will lead, Anthony Hayes, Dominari Holdings Inc. CEO and Chairman of the Board, has increased his personal stake in the company.

"With his vast knowledge of the industry and proven track record of generating a high rate of return for investors, Kyle is both a significant and transformational hire for our organization," said Hayes. "Kyle not only brings superior business acumen to Dominari, but also a vision and global perspective that few in the industry possess," he continued.

Mr. Wool will be based in Dominari Financial's New York headquarters and begins his role immediately. He is a resident of Manhattan and East Quogue and active on several charitable foundation boards.

Domininari Financial, Inc. Mission Statement:
Dominari is a dynamic, forward-thinking financial services company that creates wealth for all stakeholders by capitalizing on emerging trends in the financial services sector and identifying early-stage future opportunities that will generate a high rate of return for investors.

Securities Brokerage and Registered Investment Adviser Services are offered through Fieldpoint Private Securities LLC, Member FINRA, MSRB and SIPC, which will be known as Dominari Securities LLC after its name change is effective. Securities brokerage, investment adviser and other non-bank deposit investments are not FDIC- insured and may lose some or all the principal value invested. You can check the background of Fieldpoint Securities and its registered investment professionals and review its SEC Form CRS on FINRA's BrokerCheck site at https://brokercheck.finra.org. After the name change, information for Dominari Securities LLC and its registered investment professionals as well as its SEC Form CRS may also be found FINRA's BrokerCheck site.

Forward-Looking Statements

Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the SEC, which include but are not limited to Risk Factors relating to its business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.

Contact:

Investor Relations:      

Hayden IR
Brett Maas, Managing Partner
Phone: (646) 536-7331
Email: brett@haydenir.com
www.haydenir.com

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SOURCE Dominari Holdings Inc.

FAQ

Who is the new CEO of Dominari Financial as of March 2023?

Kyle Wool has been appointed as the new CEO of Dominari Financial Inc.

What acquisition did Dominari Financial complete in March 2023?

Dominari Financial completed the acquisition of Fieldpoint Private Securities.

What is the significance of Kyle Wool's appointment as CEO?

Kyle Wool's appointment is seen as a pivotal move to drive growth and establish Dominari Financial as a significant player in the industry.

What is Dominari Holdings Inc.'s stock symbol?

Dominari Holdings Inc. is traded under the stock symbol DOMH.

When was Dominari Financial formed?

Dominari Financial was formed in June 2022.