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The Marygold Companies Initiates Plans to Adapt its Mobile Fintech App for the UK Market Following Recent Introduction in U.S.
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Experienced Fintech Executive Ian Gass Named Chief Product Officer for Marygold & Co. (UK)
SAN CLEMENTE, Calif.--(BUSINESS WIRE)--
The Marygold Companies, Inc. (“TMC,” or the “Company”) [NYSE American: MGLD], a diversified global holding firm, today announced that it has appointed experienced fintech executive Ian Gass as Chief Product Officer in the UK, a newly created position, effective immediately. The Company plans to launch its mobile banking and financial services app in the UK in 2024 through its Marygold & Co. (UK) subsidiary, following last month’s formal product launch by Marygold & Co. in the United States.
The app is an all-in-one banking and payment services app offering FDIC-insured accounts through its banking partner with a Debit Mastercard®. It is like having a private banker on a cell phone and having a secure way to send, receive, spend, save and invest with no banking fees or minimum balance requirements. Features include contactless payment options utilizing technology that allows touch-free tap-to-pay transactions with a Marygold Debit Mastercard®; the capability for unlimited, customized, individual savings accounts called Money Pools to help investors reach their financial goals; and PayAnyone™ capability, which authorizes users to send payments to anyone.
Gass, who assumes responsibility to oversee final development of the app for the UK market, brings extensive experience in the fintech and financial services sector. Most recently, he co-founded an open banking fintech business supporting digital payments in the UK. He previously held senior management positions at Goldman Sachs and Bank of New York Mellon.
“Ian is a perfect fit for the position, bringing extensive hands-on product, operations, and business development experience,” said Nicholas Gerber, TMC’s Chief Executive Officer. “He has an outstanding track record launching, scaling and managing technology businesses targeting B2B and B2C users. We welcome him to the Marygold family.”
Marygold & Co. (UK),under the leadership of Matthew Parden as CEO,was formed in 2021 as a holding company and wholly owned subsidiary of TMC to make acquisitions in the UK. In 2022, it completed the first transaction with the acquisition of Tiger Financial & Asset Management Limited, a UK-based investment adviser, which enabled Marygold to gain a regulatory license and a long-term base of advisory clients. Marygold & Co. (UK) intends to provide multi-channel services to its existing and new clients through both its traditional business and through the new fintech app.
About The Marygold Companies, Inc.
The Marygold Companies, Inc., which changed its name from Concierge Technologies, Inc. in March 2022, was founded in 1996 and repositioned as a global holding firm in 2015. The Company currently has operating subsidiaries in financial services, food manufacturing, printing, security systems and beauty products. TMC’s companies operate under the trade names Marygold & Co., USCF Investments, Tiger Financial & Asset Management Limited, Gourmet Foods, Printstock Products, Brigadier Security Systems and Original Sprout. Offices and manufacturing operations are in the U.S., New Zealand, U.K., and Canada. For more information, visit www.themarygoldcompanies.com.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of U.S. federal securities laws. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements, including, but not limited to, launching the app in the UK in 2024, involve significant risks and uncertainties that could cause actual results to differ materially from the expected results and, consequently, should not be relied upon as predictions of future events. These forward-looking statements, including the factors disclosed in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on September 28, 2022, and in the Company’s other filings with the Securities and Exchange Commission, are not exclusive. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Except as required by law, the Company disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this press release.
