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Equitable Holdings Appoints Craig MacKay to Board of Directors
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
management
Rhea-AI Summary
Equitable Holdings, Inc. (NYSE: EQH) has appointed Craig MacKay as an independent board member, effective immediately. Mr. MacKay brings over 30 years of investment banking experience across various sectors, having closed over $12 billion in finance and M&A transactions. Joan Lamm-Tennant, Chair of the Board, expressed optimism about his contributions to enhance company value. Mark Pearson, CEO, welcomed Mr. MacKay's governance expertise and financial insight, which are expected to support Equitable's mission of securing financial well-being for clients.
Positive
Craig MacKay's extensive investment banking experience may enhance board effectiveness.
His leadership in closing over $12 billion in transactions suggests valuable financial acumen.
Negative
Concerns about continuity as a new board member may shift company dynamics.
Potential experience gaps in board governance due to the introduction of a new member.
NEW YORK--(BUSINESS WIRE)--
Equitable Holdings, Inc. (NYSE: EQH), a financial services holding company comprised of two complementary and well-established principal franchises, Equitable and AllianceBernstein, today announced the appointment of Craig MacKay as an independent member of its Board of Directors, effective immediately.
Mr. MacKay is a leading investment banking executive with over 30 years of experience in private finance spanning business services, communications and media, energy, financial services, healthcare, heavy industry, retail, technology and transportation.
“On behalf of the Board of Directors, I am pleased to welcome Craig MacKay to Equitable Holdings,” said Joan Lamm-Tennant, Chair of the Equitable Holdings Board of Directors. “Craig is a skilled and seasoned financial services senior executive, with decades of accomplishment and leadership in the financial markets. We look forward to Craig’s contributions and insights as we seek to further enhance the value of our company in the years ahead.”
Mr. MacKay currently serves as Partner and Managing Director at England & Company, LLC, an independent investment bank, where he leads the firm’s private capital markets efforts, and joins the Board after amassing considerable expertise in financial, fiduciary, corporate governance and operating leadership. His accomplishments include building and leading successful investment banking business units and closing over $12 billion in institutional finance and M&A transactions.
“Craig’s extensive background in finance and his proven governance experience are very much welcomed additions to our Board of Directors,” said Mark Pearson, President and Chief Executive Officer of Equitable Holdings. “His unique perspective on capital markets and his passion for serving others are qualities that will bring great value in advancing our mission to help our clients secure their financial well-being.”
Before joining England & Company in 2012, Mr. MacKay served as Group Head, Private Finance and Leveraged Finance Distribution at Oppenheimer & Company and its predecessor, CIBC World Markets and headed the Private Finance and High Yield Capital Markets Origination Groups at SunTrust Robinson Humphrey. He was also the founder and managing member HNY Associates, LLC, an investment banking boutique. Mr. MacKay began his professional experience at Bankers Trust Company and holds degrees from The Wharton School at The University of Pennsylvania (BS, MBA).
Mr. MacKay has been active on a number of corporate and non-profit boards. He currently serves as a Board Director for Carver Bancorp, Inc., one of the largest African American operated banks in the United States, and serves as an independent Trustee of the Pioneer Funds, the US funds managed by Amundi Asset Management US, Inc. He also serves on the advisory board of Greens Farms Capital, a private equity firm, and is former Board Chairman of the Federation of Protestant Welfare Agencies, a leading New York City-based social services agency.
About Equitable Holdings
Equitable Holdings, Inc. (NYSE: EQH) is a financial services holding company comprised of two complementary and well-established principal franchises, Equitable and AllianceBernstein. Founded in 1859, Equitable provides advice, protection and retirement strategies to individuals, families and small businesses. AllianceBernstein is a global investment management firm that offers high-quality research and diversified investment services to institutional investors, individuals and private wealth clients in major world markets. Equitable Holdings has approximately 12,100 employees and financial professionals, $856 billion in assets under management (as of 03/31/2022) and more than 5 million client relationships globally.
