Ladenburg Thalmann Adds New Head of Corporate Procurement
May 24 2016 - 8:30AM
Business Wire
Ladenburg Thalmann Financial Services Inc. (NYSE MKT: LTS, LTS
PrA) (“Ladenburg”) today announced that John D. Cornetta has joined
the firm as Vice President and Head of Procurement. Mr. Cornetta
will be based in the firm’s New York office and report to Carly
Maher, Senior Vice President of Products and Services
Management.
“I’m delighted to welcome John to the team,” said Adam Malamed,
Ladenburg’s Chief Operating Officer. “We look forward to the
efficiencies and benefits he will bring to the company as part of
our continuing effort to improve our return on invested
capital.”
Mr. Cornetta joins Ladenburg with nearly three decades of
experience in enterprise procurement. Most recently, he served as
Director of Global Procurement at Global Brands Group USA and has
held senior procurement roles at McGraw-Hill Education Inc., the
Intercontinental Hotel Group and AllianceBernstein, LP. He received
his Master of Business Administration from Rutgers University and a
Bachelor of Arts degree from Fairfield University.
“Ladenburg Thalmann is enjoying a period of accelerated growth
as we and our subsidiary broker-dealers continue to expand,” said
Ms. Maher. “With expansion comes the need to realize economies of
scale across our growing organizations. We welcome the expertise in
sourcing and enterprise-wide contracts that John will bring to the
larger firm, our subsidiaries and affiliate companies.”
Ladenburg’s broker-dealer network is comprised of six
subsidiaries with more than 4,000 financial advisors and client
assets in excess of $125 billion.
About Ladenburg
Thalmann:
Ladenburg Thalmann Financial Services Inc. (NYSE MKT: LTS, LTS
PrA) is a publicly-traded diversified financial services company
based in Miami, Florida. Ladenburg’s subsidiaries include
industry-leading independent broker-dealer firms Securities
America, Inc., Triad Advisors, Inc., Investacorp, Inc., KMS
Financial Services, Inc., Securities Services Network, Inc., as
well as Premier Trust, Inc., Ladenburg Thalmann Asset Management,
Highland Capital Brokerage, Inc., a leading independent life
insurance brokerage company, and Ladenburg Thalmann & Co.,
Inc., an investment bank which has been a member of the New York
Stock Exchange for 136 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.
This press release includes certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995, including statements regarding future financial
performance, future growth, economies of scale and growth of our
independent brokerage and advisory business. These statements are
based on management's current expectations or beliefs and are
subject to uncertainty and changes in circumstances. Actual results
may vary materially from those expressed or implied by the
statements herein due to changes in economic, business, competitive
and/or regulatory factors, including the Department of Labor's rule
and exemptions pertaining to the fiduciary status of investment
advice providers to 401(k) plan, plan sponsors, plan participants
and the holders of individual retirement or health savings
accounts, and other risks and uncertainties affecting the operation
of the Company's business. These risks, uncertainties and
contingencies include those set forth in the Company's annual
report on Form 10-K for the fiscal year ended December 31, 2015 and
quarterly report on Form 10-Q for the quarter ended March 31, 2016
and other factors detailed from time to time in its other filings
with the Securities and Exchange Commission. The information set
forth herein should be read in light of such risks. Further,
investors should keep in mind that the Company's quarterly revenue
and profits can fluctuate materially depending on many factors,
including the number, size and timing of completed offerings and
other transactions. Accordingly, the Company's revenue and profits
in any particular quarter may not be indicative of future results.
The Company is under no obligation to, and expressly disclaims any
obligation to, update or alter its forward-looking statements,
whether as a result of new information, future events, changes in
assumptions or otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20160524005531/en/
JConnellyMichael Chiong, 646-922-7764mchiong@jconnelly.com
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