Appoints Alexander R. Castaldi as Chairman of the Board
RADNOR, Pa.--(BUSINESS WIRE)--
JGWPT Holdings Inc. (“JGWPT” or the “Company”) (NYSE:JGW), a leading
purchaser of structured settlement payments, annuity payments, lottery
payments and other receivables through the J.G. Wentworth and Peachtree
brands, today announced Stewart A. Stockdale has been named Chief
Executive Officer and Director effective immediately. He succeeds David
Miller who has resigned.
The Company also announced today that the Board of Directors elected
Alexander R. Castaldi as Chairman of the Board. He has been a director
of the company since 2005 and has been a Managing Director at JLL
Partners for the last eleven years.
“We are pleased to have Stewart lead the team at JGWPT,” said Castaldi.
“His proven abilities with some of the most admired global companies to
achieve business improvements and innovation with emphasis on growth
will benefit the Company and its stockholders.”
“I am delighted to join JGWPT,” remarked Stockdale. “I look forward to
working with the company’s very talented management team and leveraging
the J.G. Wentworth and Peachtree brands to achieve further growth by
evolving the company into a more diversified consumer financial services
Stockdale brings broad experience with world-class companies in the
payments, financial services and consumer products sectors. Most
recently, he served as an Executive Partner at Summit Partners, a global
growth equity investor.
Previously he was President, Global Consumer Financial Services (GCFS)
for The Western Union Company, a segment that represented approximately
90% of the company’s revenues. GCFS consists of Western Union’s Money
Transfer and Consumer Payments businesses across five global regions
(North America, Latin America & Caribbean, Europe & CIS, Middle EastAfrica, and Asia Pacific). At Western Union, some of his successes
included repositioning and turning around the U.S. Domestic Money
Transfer and Consumer Payments businesses and returning them to growth
after years of steep declines as well as launching the U.S. Prepaid Card
business, delivering almost one million cards-in-force in the U.S. alone.
Prior to joining Western Union, Stockdale served as President of Simon
Brand Ventures and as Chief Marketing Officer of Simon Property Group, a
global leader in the retail real estate industry. At Simon, he was
responsible for all Marketing and Consumer Venture businesses within the
company and launched the Simon gift card, which became the largest Visa
gift card program in the United States. Prior to Simon, Stockdale held
senior positions with multinational companies including Conseco,
MasterCard Worldwide, American Express and Procter & Gamble.
Stockdale holds a Bachelor of Science in Business Administration in
marketing from the University of Denver and completed The Executive
Program at the University of Virginia’s Darden Graduate School of
Forward Looking Statements
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"will," be taken, occur or be achieved. Any statements that refer to
expectations or other characterizations of future events, circumstances
or results are forward-looking statements and should not be relied upon
as any guarantee of performance or results.
About JGWPT Holdings Inc.
JGWPT focuses on key sectors, including structured settlement payment
purchasing, annuity payment purchasing, lottery payment purchasing and
pre-settlement funding. Through our two market-leading and
highly-recognizable brands, J.G. Wentworth and Peachtree Financial
Solutions, we purchase future structured settlement payment streams from
our customers. For more information about JGWPT, visit www.jgwpt.com or
use the information provided below.
JGWPT Holdings Inc.
Michael Goodwin, 212-508-9639
Source: JGWPT Holdings Inc.