MCAP Inc. Appoints Peter Baksh to Board of Directors

Rhea-AI Summary

MCAP Inc. (OTC: MCAP) announced the appointment of Peter Baksh, CFA, as an independent director on the Board of Directors, effective July 13, 2022. Baksh brings extensive experience in the financial services sector, currently serving as Chief Investment Officer at the First National Bank of Mount Dora. He holds an MBA from Indiana University and is a CFA Charter holder. His appointment is expected to enhance the Board's expertise in market structure and investment strategies. MCAP operates three subsidiaries focusing on financial technology, digital assets, and brokerage services.

Positive

• Appointment of Peter Baksh as an independent director, adding experienced leadership to the Board.
• Baksh's expertise in financial services and market structure could provide valuable insights for future business strategies.

Negative

• None.

ORLANDO, Fla., July 13, 2022 /PRNewswire/ -- MCAP Inc. (OTC: MCAP), a financial technology company and electronic securities market maker, today announced the appointment of Peter Baksh, CFA, to the Board of Directors.  Mr. Baksh will serve as an independent director and will be a member of the Audit Committee.

Mr. Baksh is currently the Chief Investment Officer at the First National Bank of Mount Dora.  He received his MBA from the Kelly School of Business at Indiana University and BBA from the University of Florida.  Mr. Baksh holds the CFA Charter and has served as a Board Member for the CFA Society of Orlando.  

David Menn, MCAP's Chairman of the Board and CEO, stated: "I have known Pete for almost a decade and he is a recognized leader in the financial services industry.  He has extensive experience in the securities markets, investing and market structure. I look forward to benefiting from his insights on the Board."

MCAP Inc. operates as a financial technology company.  The company has three subsidiaries:  MCAP Technologies LLC, MBIT LLC, and MCAP LLC.  MCAP Technologies LLC develops financial technology software utilized in various global financial markets.  MBIT LLC is a digital asset company focused on cryptocurrency and blockchain integration in the global financial markets.  MCAP LLC is a U.S. based broker-dealer focused on electronic securities market making.  MCAP LLC connects institutional investors, broker-dealers and companies to the global equity and fixed income markets on a 24/7 basis.  MCAP focuses on developing technologies to provide customers with customized trading solutions and unique market access.

Please visit our website:  www.mcaptech.com

Forward-Looking Statements

This release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. The matters discussed in this news release involve goals, forecasts, assumptions, risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements.

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SOURCE MCAP Inc.

FAQ

Who is Peter Baksh and what is his role at MCAP?

Peter Baksh is the newly appointed independent director on MCAP's Board. He also serves as the Chief Investment Officer at the First National Bank of Mount Dora.

What can we expect from Peter Baksh's appointment to the Board of MCAP?

Baksh's extensive experience in financial services may lead to enhanced decision-making and strategic planning for MCAP.

When was Peter Baksh appointed to the Board of MCAP?

Peter Baksh was appointed on July 13, 2022.

What is the main focus of MCAP's business operations?

MCAP focuses on financial technology, digital assets, and electronic securities market making through its subsidiaries.