– USA, FL – Ladenburg Thalmann Financial Services Inc. (NYSE:LTS, LTSL, LTS PrA, LTSF, LTSK) announced today that its Board of Directors has appointed Richard Lampen, Ladenburg’s President and Chief Executive Officer, to serve as Chairman of the Board, replacing Dr. Phillip Frost.
Adam Malamed, Ladenburg’s Executive Vice President and Chief Operating Officer, will join the Board of Directors.
Dr. Phillip Frost said, “I have decided to retire from the Ladenburg Board and will concentrate my efforts on OPKO Health and my philanthropic interests. As a long-term shareholder, I am confident in Ladenburg’s outlook and look forward to its continued growth and success.”
“We thank Phil for his service to Ladenburg and its shareholders over the past 14 years,” said Richard Lampen. “Ladenburg would not be where it is today without his many contributions, and his presence in the boardroom will be sorely missed.”
Mr. Lampen continued, “Our business is robust, and the company remains well-capitalized. Ladenburg’s book value exceeds $390 million, the Ladenburg entities hold approximately $250 million of cash, and the company is focused on building on its successes and delivering value to shareholders.”
Ladenburg Thalmann Financial Services Inc. is a publicly-traded diversified financial services company based in Miami, Florida. Ladenburg’s subsidiaries include industry-leading independent advisory and brokerage (IAB) firms Securities America, Triad Advisors, Securities Service Network, Investacorp, and KMS Financial Services, as well as Premier Trust, Ladenburg Thalmann Asset Management, Highland Capital Brokerage, a leading independent life insurance brokerage company, Ladenburg Thalmann Annuity Insurance Services, a full-service annuity processing and marketing company, and Ladenburg Thalmann & Co. Inc., an investment bank which has been a member of the New York Stock Exchange for over 135 years. The Company is committed to investing in the growth of its subsidiaries while respecting and maintaining their individual business identities, cultures, and leadership. For more information, please visit www.ladenburg.com
- Disclaimer - News, data, and statements included in this release are intended exclusively for general information purposes. Talent4Boards does not guarantee that news is accurate or about the correct person and accepts neither liability for the consequences of the reader’s reliance, nor responsibility for the accuracy of the information. Nothing in this release should be considered for decisions about referred securities. Products and brand names may be trademarks or registered trademarks of their respective owners.
Comments are closed.