Medley Announces Key Executive Promotions
On April 16, 2021, Medley Management Inc. (NYSE: MDLY) announced the promotions of Howard Liao to CEO, Dean Crowe to President, and David Richards to COO, effective May 3, 2021. Liao, who currently serves as Chief Investment Officer, succeeds co-CEOs Brook and Seth Taube, who continue as co-Chairmen. Medley, an alternative asset management firm with $2.9 billion in assets under management, provides yield solutions and has funded over 450 companies. The press release highlights the leadership transition aimed at driving future success.
- Promotions of key executives, indicating stability and continuity in management.
- Howard Liao's experience as Chief Investment Officer may strengthen strategic direction.
- Ongoing SEC investigation and Chapter 11 proceedings could impact operations.
- Potential risks regarding COVID-19 and market volatility may affect future performance.
NEW YORK, April 16, 2021 /PRNewswire/ -- Medley Management Inc. (the "Company"), (NYSE: MDLY) announced today the promotions of Howard Liao to Chief Executive Officer ("CEO"), Dean Crowe to President and David Richards to Chief Operating Officer effective May 3, 2021. Howard Liao succeeds co-CEOs Brook Taube and Seth Taube each of whom will remain co-Chairman and continue to support the existing management team and provide strategic guidance.
"On behalf of our Board of Directors, we are pleased to announce these well-deserved promotions of our existing management team," said Brook Taube. "Howard, Dean and Dave are proven and respected executives who I am confident will lead Medley to great success in the years to come."
Mr. Liao said, "I am honored to be named the next CEO of Medley, and want to thank both Brook and Seth and the Board for the confidence they have placed in me, Dean and Dave to lead Medley going forward."
Mr. Liao is currently the Chief Investment Officer and will retain this title. Mr. Richards is currently the Chief Credit Officer and will retain this title.
About Medley
Medley is an alternative asset management firm offering yield solutions to retail and institutional investors. Medley has
Medley LLC, the operating company of Medley Management Inc., has outstanding bonds which trade on the NYSE under the symbols (NYSE:MDLX) and (NYSE:MDLQ).
Forward-Looking Statements
Statements included herein may contain "forward-looking statements." Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of assumptions, risks and uncertainties, which change over time. Actual results may differ materially from those anticipated in any forward-looking statements as a result of a number of factors, including those described from time to time in filings by the Company with the Securities and Exchange Commission (the "SEC"), including those described in the section "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2020.
Such forward-looking statements include, without limitation: the impact of COVID19 on our business; the ability of the Company to continue as a going concern; the timing and outcome of the SEC's investigation and pending Chapter 11 proceedings; Medley LLC's ability to repay, refinance or restructure its debt; general volatility of the capital markets and the market price of our common stock; availability, terms and deployment of capital; and availability of qualified personnel. These and other risk factors are more fully discussed in the Company's filings with the SEC.
Except as required by law, the Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements made herein speak only as of the date of this press release.
Available Information
Medley LLC's filings with the Securities and Exchange Commission, press releases, earnings releases and other financial information are available at www.mdly.com.
Investor Contact:
Sam Anderson
Head of Capital Markets & Risk Management
Medley Management Inc.
212-759-0777
Media Contact:
Jonathan Gasthalter/Nathaniel Garnick
Gasthalter & Co. LP
212-257-4170
1 Medley Management Inc. is the parent company of Medley LLC and several registered investment advisors (collectively, "Medley"). Assets under management refers to assets of our funds, which represents the sum of the net asset value of such funds, the drawn and undrawn debt (at the fund level, including amounts subject to restrictions) and uncalled committed capital (including commitments to funds that have yet to commence their investment periods). Assets under management are as of December 31, 2020.
View original content:http://www.prnewswire.com/news-releases/medley-announces-key-executive-promotions-301270700.html
SOURCE Medley Management Inc.
FAQ
What are the recent executive promotions at Medley Management Inc. (MDLY)?
What assets under management does Medley Management Inc. (MDLY) currently hold?
What challenges is Medley Management Inc. (MDLY) currently facing?
Who are the co-Chairmen of Medley Management Inc. (MDLY) after the leadership changes?
What is the stock performance outlook for Medley Management Inc. (MDLY) following the executive changes?
