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Fintech Acquisition Corp. V

Fintech Acquisition Corp. V

Oct 27, 2020 by Roman Developer

LIQUIDATION – 11/18/22 – LINK

  • FinTech Acquisition Corp. V announced that, because the Company will not consummate an initial business combination within the time period required, the Company intends to dissolve and liquidate in accordance with the provisions of the Charter, effective as of the close of business on December 9, 2022, and will redeem all of the outstanding shares of Class A common stock that were included in the units issued in its initial public offering, at a per-share redemption price of approximately $10.08.
  • As of the close of business on December 9, 2022, the Public Shares will be deemed cancelled and will represent only the right to receive the redemption amount.

The below-announced combination was terminated on 7/5/22.  It will remain on the page for reference purposes only. Once a new combination is announced it will be added to the top of the page. – LINK

PROPOSED BUSINESS COMBINATION: eToro Group Ltd.

ENTERPRISE VALUE: $8.8 billion
ANTICIPATED SYMBOL: TBD

Fintech Acquisition Corp. V proposes to combine with eToro Group Ltd. (“eToro” or the “Company”), a multi-asset investment platform that empowers people to grow their knowledge and wealth as part of a global community of successful investors. Upon closing of the transaction, the combined company will operate as eToro Group Ltd. and is expected to be listed on NASDAQ.

eToro was founded in 2007 with the vision of opening up capital markets. The social investment network offers users a choice of which assets to invest in from commission-free fractional equities to cryptoassets, and a choice of how to invest. Users can trade directly themselves, invest in a smart portfolio, or replicate the investment strategy of successful investors on the platform at no extra cost with the simple click of a button.

In 2020, eToro added over 5 million new registered users and generated gross revenues of $605 million, representing year-over-year growth of 147%.  Momentum is accelerating in 2021 as a new generation of investors discover the global markets. In 2019, monthly registrations averaged 192,000. In 2020, that grew to 440,000, and in January 2021 alone eToro added more than 1.2 million new registered users to the social network. In 2019, eToro executed 8 million trades per month on average. That number grew to 27 million in 2020, and in January 2021 alone eToro saw more than 75 million trades executed on the eToro platform.

eToro currently has over 20 million registered users and its social community is rapidly expanding due to the vast, and growing, total addressable market which is supported by secular trends such as the growth of digital wealth platforms and the rise in retail participation. eToro was also one of the first regulated platforms to offer cryptoassets and is well-positioned to benefit from mainstream crypto adoption.

eToro highlights:

  • The world’s leading social investment network with more than 20 million registered users from over 100 countries.
  • A truly global multi-asset platform supporting investments in equities, ETFs, commodities, currencies, cryptoassets and smart portfolios.
  • A global platform regulated in the U.K., Europe, Australia, the U.S. and Gibraltar.
  • In 2019 launched crypto and social trading in the U.S.; received approval from FINRA for a broker dealer license, with plans to launch stocks in the U.S. in the second half of 2021.
  • Large and growing market opportunity with secular tailwinds, including the rise of retail investor engagement with capital markets and accelerated digital transformation.
  • Patented and scalable technology that enables users to communicate with each other and to copy the investment strategy of successful investors on the platform.
  • Multichannel marketing strategy with high return on investment.
  • Expert management team from multiple disciplines across online brokerage, technology, marketing and data sciences, with former regulators as senior advisors.
  • Financial forecasts reflect the diversification and growth potential of the existing platform combined with efficient marketing and operating leverage.

SUBSEQUENT EVENT – Filed 8-K 12/30/21

  • Under the Merger Agreement Amendment, the parties agreed, among other things, to extend the Outside Date from December 31, 2021 to June 30, 2022 and change the pre-money valuation of eToro from $9.301 billion to $7.906 billion.
    • As such, the estimated implied post-money equity value of eToro is approximately $8.8 billion1.
  • Under the Amended Subscription Agreements, as of the date of this communication, eToro has received commitments for $441 million in the aggregate.
  • The consummation of the Business Combination remains subject to the satisfaction of customary closing conditions, including the effectiveness of eToro’s registration statement on Form F-4 relating to the Business Combination and receipt of the requisite approvals of the eToro shareholders and the Company stockholders.

1 – (a) assumes that (i) none of the Company stockholders exercise their redemption rights, (ii) the aggregate amount of PIPE financing is $441 million, (iii) the Self-Tender Offer (as defined in the Merger Agreement) is adjusted in accordance with the Amended Subscription Agreements and is fully subscribed and (iv) the Split Factor (as defined in the Merger Agreement) is approximately 38 and (b) includes (i) sponsor shares that are not subject to price-based transfer restrictions following closing, (ii) eToro options and (iii) the Pre-PIPE Conversion (as defined in the Merger Agreement) occurring at $6.32 per share.

SUBSEQUENT EVENT – Filed 8-K

Previously, the Sponsor agreed that it will forfeit an aggregate of 1,023,333 shares of Class B common stock and 610,000 shares of Class A common stock. Plus, 6,846,667 shares of Class B common stock would be subject to transfer restrictions for six months following the Closing and that 80% of the shares of Class B common stock also be subject to vesting conditions based on certain closing share price thresholds of the Company’s common stock for 20 out of any 30 consecutive trading days (such 80% of the shares of Class B common stock, the “Share Price Restricted Class B Shares”) imposing restrictions on transfer prior to the satisfaction of such vesting conditions.

  • On May 4, 2021, the parties to the Sponsor Share Cancellation Agreement entered into an Amendment to revise the terms of the restrictions on transfer of the Share Price Restricted Class B Shares to provide that such restrictions on transfer, if not previously lapsed or terminated in accordance with their terms, shall terminate on the tenth anniversary of the date of the consummation of the business combination.

TRANSACTION

  • The Company is expected to have an estimated implied equity value of approximately $10.4 billion at closing, reflecting an implied enterprise value for eToro of approximately $9.6 billion.
  • The transaction includes $250 million in gross proceeds from FinTech V’s cash in trust (assuming no redemptions) and $650 million in gross proceeds from a fully committed private placement in public equity (“PIPE”) at $10.00 per share from various strategic and institutional investors, including ION Investment Group, Softbank Vision Fund 2, Third Point LLC, Fidelity Management & Research Company LLC, and Wellington Management, that will close concurrently with the business combination.
  • The Company is expected to have approximately $800 million net cash on its balance sheet to support future growth.
  • Existing eToro equity holders, including current investors and employees of the firm, will remain the largest investors in the combined company retaining approximately 91% ownership immediately following the business combination (assuming no redemptions by FinTech V’s stockholders).
  • The business combination is targeted to close in the third quarter of 2021, subject to stockholder approvals and other customary closing conditions.

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PIPE

  • $650 million in gross proceeds from a fully committed private placement in public equity (“PIPE”) at $10.00 per share from various strategic and institutional investors, including ION Investment Group, Softbank Vision Fund 2, Third Point LLC, Fidelity Management & Research Company LLC, and Wellington Management

SPONSOR COMMITTMENT LETTER

  • The Sponsor Group may, directly or through affiliates, make open market purchases of Company Class A Stock prior to the Effective Time in an amount of up to $27,500,000, and
  • The Sponsor Group will, directly or through affiliates, or cause the purchase of, eToro Common Shares at $10.00 per share and at an aggregate cash purchase price equal to the amount paid, or required to be paid, by the Company to redeem any Company Class A Stock in the Stockholder Redemption in excess of 1,250,000 shares of Company Class A Stock, with such purchases to occur at the time of the closing of the Business Combination (after the Capital Restructuring) (the “Sponsor Commitment”);
  • provided that the amount paid by the Sponsor Group to acquire eToro Common Shares under the transaction shall be reduced by the aggregate amount of documented open market purchases of Company Class A Stock prior to the Effective Time effected by Sponsor Group directly or through affiliates.

SPONSOR SURRENDER

  • (i)The Sponsor will upon the Effective Time, immediately prior to the consummation of the Business Combination, surrender to the Company, for no consideration,
    • (a) 15% of the shares of Company Class B Stock held by Sponsor (such Class B Shares, the “Surrendered Shares”) and
    • (b) 100% of the private placement warrants to purchase an aggregate of 213,333 shares of Company Common Stock held by Sponsor (the “Surrendered Warrants”), and such Surrendered Shares and Surrendered Warrants shall be canceled and no longer outstanding (the “Sponsor Forfeiture”),
  • (ii) if more than 20% of the Company Class A Stock (the “Redemption Floor”) is submitted for redemption, then the Sponsor will surrender to the Company, for no consideration, a number of shares of Company Class B Stock as is equal to one percent (1%) of the number of shares of Company Class B Stock outstanding on the date of signing of the Merger Agreement for every additional one percent (1%) of the number of shares of Company Class A Stock being redeemed in excess of the Redemption Floor, and
  • (iii) 75% of the number of shares of eToro Common Shares held by Sponsor immediately after giving effect to the Business Combination will be subject to transfer restrictions (in addition, and subject, to those provided by the Lock-Up Agreement) based on certain closing share price thresholds of the eToro Common Shares for 20 out of any 30 consecutive trading days, subject to certain permitted transfers and early release of the Early Release Shares

LOCK-UP

  • eToro, certain of the officers and directors of eToro (the “eToro Management Holders”), and Sponsor have entered into and delivered a Lock-Up Agreement (the “Lock-Up Agreement”), pursuant to which
    • (i) the eToro Management Holders have agreed to not transfer any eToro Common Shares held by them (“Management Holders Lock-Up Shares”) until 180 days following the Closing Date, subject to early release if the stock price of the eToro Common Shares exceeds $12.50 for any 20 trading days within any 30 consecutive trading day period (as further described therein, and which may be less than 180 days after the Closing Date), and
    • (ii) Sponsor has agreed to not transfer any eToro Common Shares acquired by it as Merger Consideration (“Sponsor Lock-Up Shares”, and together with the Management Holders Lock-Up Shares, the “Lock-Up Shares”) until the date of the first to occur of one (1) year following the Closing Date, subject to early release if the stock price of the eToro Common Shares exceeds $12.50 for any 20 trading days within any 30 consecutive trading day period (as further described therein, but in any event not prior to the date that is one hundred and eighty (180) days after the Closing Date), in each case subject to certain permitted transfers.
    • The foregoing restrictions on transfer of the Lock-up Shares will terminate and no longer be applicable on the first to occur of:
      • (x) the five (5) year anniversary of the Closing Date,
      • (y) the date on which eToro completes a liquidation, merger, capital stock exchange, or other similar transaction that results in all of eToro’s shareholders having the right to exchange their eToro Common Shares for cash, securities or other property, and
      • (z) the date all of the Lock-Up Shares are no longer subject to the transfer restrictions set forth in the Lock-Up Agreement. On or prior to
        • (A) December 1, 2021, if the Closing Date occurs on or prior to November 30, 2021,
        • (B) the close of the Trading Day on the Closing Date, if the Closing Date occurs during the month of December 2021 and
        • (C) June 30, 2022, if the Closing Date occurs after December 31, 2021, the Sponsor may cause a portion of the Sponsor Lock-Up Shares be released from foregoing restrictions on transfer of the Sponsor’s Lock-up Shares (such portion, the “Early Release Shares”) by delivering to eToro a written notice requesting such release for a legitimate business purpose in connection with the Merger in respect of such release.

NOTABLE CONDITIONS TO CLOSING

eToro’s obligation to consummate the transactions contemplated by the Merger Agreement is subject to customary conditions precedent, including that the result of:

  • (A) Aggregate amount of cash contained in the Company’s trust account immediately prior to the consummation of the Business Combination, plus
  • (B) the proceeds of the PIPE Investment (as defined below), less
  • (C) the aggregate amount required to be used to redeem shares of Company Class A Stock from Company public stockholders that submit valid Stockholder Redemption requests, less
  • (D) the aggregate amount, if any, owed to certain affiliates of Sponsor in respect of working capital loans outstanding at the Effective Time, if any, less
  • (E) the amount of cash (not to exceed $300,000,000) to be used to consummate the Self-Tender Offer, plus
  • (F) the Sponsor Commitment (“Available Cash”), equals or exceeds $125,000,000

The Company’s obligation to consummate the transactions contemplated by the Merger Agreement is subject to customary conditions precedent, including that:

  • Available Cash equals or exceeds $100,000,000.

NOTABLE CONDITIONS TO TERMINATION

  • By either the Company or eToro if the closing of the transactions contemplated in the Merger Agreement has not occurred by December 31, 2021 (the “Outside Date”)
  • Under the Merger Agreement Amendment, the parties agreed, among other things, to extend the Outside Date from December 31, 2021 to June 30, 2022

ADVISORS

  • Goldman Sachs & Co. LLC is serving as financial advisor to eToro
  • Citi is serving as financial advisor to FinTech V in connection with the business combination.
  • Skadden, Arps, Slate, Meagher & Flom LLP and Meitar | Law Offices are serving as legal advisors to eToro.
  • Morgan, Lewis & Bockius LLP and Gornitzky & Co. are serving as legal advisors to FinTech V.
  • Citi, Cantor Fitzgerald & Co. and Northland Capital Markets are serving as capital markets advisors to FinTech V.
  • Goldman Sachs & Co. LLC and Citi are serving as co-placement agents on the PIPE.
  • Davis Polk & Wardwell LLP are serving as legal advisors to the placement agents on the PIPE.

MANAGEMENT & BOARD

Executive Officers

Daniel G. Cohen, 51
Chief Executive Officer

Daniel G. Cohen has served as the Chief Executive Officer of FinTech IV since May 2019, and as Chairman of the board of directors of INSU II since January 2019. Mr. Cohen served as Chief Executive Officer of FinTech III from March 2017 until October 2020, Chairman of the board of directors of INSU (NASDAQ: INSU) from December 2018 until October 2020, and as a director and Chief Executive Officer of FinTech II from May 2015 until July 2018. He previously served as a director of FinTech I from November 2013 until July 2016, as FinTech I’s President and Chief Executive Officer from August 2014 until July 2016, and as FinTech I’s Executive Vice President from July 2014 through August 2014. He has been the Chairman of Bancorp and Chairman of the Executive Committee of Bancorp’s Board of Directors since its inception in 1999. Mr. Cohen is Vice-Chairman of Bancorp Bank’s Board of Directors and Chairman of its Executive Committee. He had previously been Chairman of Bancorp Bank’s Board of Directors from September 2000 to November 2003 and, from July 2000 to September 2000, had been Bancorp Bank’s Chief Executive Officer. Mr. Cohen has served as the Chairman of the Board of Directors and of the Board of Managers of Cohen & Company, LLC, and has, since September 16, 2013, served as the President and Chief Executive of the European Business of Cohen and Company Inc. (NYSE: COHN), a financial services company with approximately $2.63 billion in assets under management as of June 30, 2020, and as President, a director and the Chief Investment Officer of Cohen and Company Inc.’s indirect majority owned subsidiary, Cohen & Company Financial Limited (formerly known as EuroDekania Management Limited), a Financial Conduct Authority regulated investment advisor and broker dealer focusing on the European capital markets. Mr. Cohen served as Vice Chairman of the Board of Directors and of the Board of Managers of Cohen & Company, LLC from September 16, 2013 to February 21, 2018. Mr. Cohen served as the Chief Executive Officer and Chief Investment Officer of Cohen and Company Inc. from December 16, 2009 to September 16, 2013 and as the Chairman of the Board of Directors from October 6, 2006 to September 16, 2013. Mr. Cohen served as the executive Chairman of Cohen and Company Inc. from October 18, 2006 to December 16, 2009. In addition, Mr. Cohen served as the Chairman of the Board of Managers of Cohen & Company, LLC from 2001 to September 16, 2013, as the Chief Investment Officer of Cohen & Company, LLC from October 2008 to September 16, 2013, and as Chief Executive Officer of Cohen & Company, LLC from December 16, 2009 to September 16, 2013. Mr. Cohen served as the Chairman and Chief Executive Officer of J.V.B. Financial Group, LLC (formerly C&Co/PrinceRidge Partners LLC), Cohen and Company Inc.’s indirect broker dealer subsidiary (“JVB”), from July 19, 2012 to September 16, 2013. He previously served as Chief Executive Officer of RAIT from December 2006, when it merged with Taberna Realty Finance Trust, to February 2009, and served as a trustee from the date RAIT acquired Taberna until his resignation from that position in February 2010. Mr. Cohen was Chairman of the Board of Trustees of Taberna Realty Finance Trust from its inception in March 2005 until its December 2006 acquisition by RAIT, and its Chief Executive Officer from March 2005 to December 2006. Mr. Cohen served as a director of Star Asia, a joint venture investing in Asian commercial real estate, from February 2007 to February 2014 and as a director of Muni Funding Company of America, LLC, a company investing in middle-market non-profit organizations, from April 2007 to June 2011. Mr. Cohen is a member of the Academy of the University of Pennsylvania, a member of the Visiting Committees for the Humanities and a member of the Paris Center of the University of Chicago. Mr. Cohen is also a Trustee of the List College Board of the Jewish Theological Seminary, a member of the board of the Columbia Global Center in Paris, a Trustee of the Paideia Institute and a Trustee of the Arete Foundation.

James J. McEntee, III, 62
President

James J. McEntee, III has served as the President of FinTech IV since May 2019. Previously Mr. McEntee served as the Chief Financial Officer of FinTech IV from May 2019 to August 2020. He also served as the President and Chief Financial Officer of FinTech III from March 2017 until October 2020, and as President and Chief Financial Officer of FinTech II from May 2015 until July 2018. He served as FinTech I’s Chief Financial Officer and Chief Operating Officer from August 2014 to July 2016. He has served as the Managing Principal of StBWell, LLC, an owner and operator of real estate, since June 2010. Mr. McEntee has been a director of both Bancorp and its wholly-owned subsidiary Bancorp Bank since September 2000 and was a director of T-Rex Group, Inc., a provider of risk analytics software for investors in renewable energy, from November 2014 to January 2018. Mr. McEntee was the Chief Executive Officer of Alesco Financial, Inc. from the date of its incorporation in 2006 until its merger with Cohen & Company in December 2009 and was the Chief Operating Officer of Cohen & Company from March 2003 until December 2009, and was a managing director of COHN and was the Vice-Chairman and Co-Chief Operating Officer of JVB Financial through October 2013. Mr. McEntee was a principal in Harron Capital, L.P., a media and communications venture capital fund, from 1999 to September 2002. From 1990 through 1999, Mr. McEntee was a stockholder at Lamb McErlane, PC, and from 2000 until 2004 was of counsel to Lamb McErlane. Mr. McEntee was previously a director of Pegasus Communications Corporation, a publicly held provider of communications and other services, and of several other private companies. Mr. McEntee has served since 2008 as a director of The Chester Fund, a nonprofit organization, and served as its Chairman from July 2012 to January 2018.

Douglas Listman, 50
Chief Financial Officer

Douglas Listman has been the Chief Financial Officer of FinTech IV since August 2020, and as the Chief Financial Officer of FTAC Olympus since August 2020. He has served as the Chief Accounting Officer of Cohen & Company, Inc. since December 2009 and Chief Accounting Officer of Cohen & Company, LLC since 2006. From 2004 to 2006, Mr. Listman served as an associate for Resources Global Professionals (a worldwide accounting services consulting firm). From 1992 to 2003, Mr. Listman served in various accounting and finance positions including: senior accountant with KPMG; Assistant Corporate Controller of Integrated Health Services (a publicly traded provider of skilled nursing services; NYSE: IHS); Controller of Integrated Living Communities (a publicly traded provider of assisted living services; NASDAQ: ILCC); Chief Financial Officer of Senior Lifestyles Corporation (a private owned provider of assisted living services); and Chief Financial Officer of Monarch Properties (a privately owned health care facility real estate investment company). Mr. Listman is a Certified Public Accountant and graduated from the University of Delaware with a B.S. in accounting.

 

Board of Directors

Betsy Z. Cohen, 78
Chairman of the Board

Betsy Z. Cohen currently serves as the Chairman of the board of directors of FinTech IV, a position she has held since May 2019, and Chairman of the board of directors of FTAC Olympus, a position she has held since June 2020. Mrs. Cohen served as Chairman of FinTech III’s board of directors from March 2017 until October 2020, as Chairman of FinTech II’s board of directors from August 2016 until July 2018. She served as a director of FinTech I and its successor, Card Connect Corp., a provider of payment processing solutions to merchants, from November 2013 until May 2017, and previously served as Chairman of the board of directors of FinTech I from July 2014 through July 2016 and as FinTech I’s Chief Executive Officer from July 2014 through August 2014. She served as Chief Executive Officer of Bancorp and its wholly-owned subsidiary, Bancorp Bank, from September 2000 and Chairman of Bancorp Bank from November 2003, and resigned from these positions upon her retirement in December 2014. She served as the Chairman of the Board of Trustees and as a trustee of RAIT Financial Trust (NYSE: RAS), a real estate investment trust, from its founding in August 1997, through her resignation as of December 31, 2010 and served as RAIT’s Chief Executive Officer from 1997 to 2006. Mrs. Cohen served as a director of Hudson United Bancorp (a bank holding company), the successor to JeffBanks, Inc., from December 1999 until July 2000 and as the Chairman of the Jefferson Bank Division of Hudson United Bank (Hudson United Bancorp’s banking subsidiary) from December 1999 through March 2000. Before the merger of JeffBanks, Inc. with Hudson United Bancorp in December 1999, Mrs. Cohen was Chairman and Chief Executive Officer of JeffBanks, Inc. from its inception in 1981 and also served as Chairman and Chief Executive Officer of each of its subsidiaries, Jefferson Bank, which she founded in 1974, and Jefferson Bank New Jersey, which she founded in 1987. From 1985 until 1993, Mrs. Cohen was a director of First Union Corp. of Virginia (a bank holding company) and its predecessor, Dominion Bancshares, Inc. In 1969, Mrs. Cohen co-founded a commercial law firm and served as a senior partner until 1984. Mrs. Cohen also served as a director of Aetna, Inc. (NYSE: AET), an insurance company, from 1994 until May 2018.

Laura S. Kohn, 50
Director 

Laura Kohn has served as a director of FinTech IV since September 2020. Ms. Kohn is an independent investor and entrepreneur focused primarily on real estate investments. Previously, Ms. Kohn was Vice President and Head of Institutional Strategy at Charles Schwab from 2009 to 2012 and Senior Vice President of Strategic Initiatives at Wells Fargo from 2007 to 2009. Prior to that Ms. Kohn served as Senior Principal at the Parthenon Group, a provider of strategy consulting, where she directed consulting engagements and developed relationships with client executives at Fortune 500 companies, mid-tier companies and start-up ventures. Ms. Kohn began her career at the Boston Consulting Group, where she provided strategic consulting services to executive management of Fortune 500 companies. She holds an M.B.A. in Finance from the Wharton School of Business, a Ph.D. in Industrial and Organizational Behavior from Rice University and a B.A. in Psychology from Binghamton University.

Jan Rock Zubrow, 63
Director 

Jan Rock Zubrow has served as a director of FinTech IV since September 2020. Ms. Rock Zubrow is a leader of non-profit organizations active in international development and education. She has served as Chair of the Board of Women for Women International, an organization that provides vocational and life skills to women in war-torn countries, since 2015. In addition, Ms. Rock Zubrow has served on the board of New Leaders, an organization that trains educators to be transformational school leaders who can help bridge the achievement gap in the nation’s inner-city schools, since 2013. From 1998 to 2015, Ms. Rock Zubrow was president of MedCapital, LLC, a venture capital firm that she founded that invested in early stage healthcare companies. Before starting MedCapital, Ms. Rock Zubrow managed significant consumer franchises at Johnson & Johnson, Tambrands, Inc. and the Procter and Gamble Company. Ms. Rock Zubrow is a trustee emeritus of the Cornell University Board of Trustees and served as Chair of Cornell’s Executive Committee from 2011-2018. Additionally, she chaired the Presidential Search Committee for Cornell’s thirteenth and fourteenth presidents. Previously, she served as Co-Chair of Cornell’s $6 billion capital campaign and the task-force which led to the establishment of the Cornell Tech campus in New York City. Ms. Rock Zubrow received a B.A. in Economics from Cornell University and a M.B.A. from the Harvard Business School.

Brittain Ezzes, 44 [Resigned 7/15/22]
Director 

Ms. Ezzes has served as a director of FinTech IV since May 2019, and served as a director of FinTech III from November 2018 until October 2020. Since April 2020, Ms. Ezzes has served as Executive Vice President and Portfolio Manager for Small Cap Value and Mid Cap Value funds at Mutual of America. Previously, Ms. Ezzes served as a Portfolio Manager and Senior Research Analyst at Cramer Rosenthal McGlynn, an equity investment company, where she was responsible for investing portfolios and recommending stocks for a variety of industries. She served as the Co-Portfolio Manager of the CRM Small/Mid Cap Value Strategy from 2014 to April 2020 and as Co-Portfolio Manager of the CRM Mid Cap Value Strategy from 2016 to April 2020. Ms. Ezzes joined Cramer Rosenthal McGlynn in 2010 as an investment analyst. Ms. Ezzes began her career in public equities in 2003 and previously worked at MissionPoint Capital and Iridian Asset Management. From 1999 until 2003 she worked in private equity at SG Capital Partners where she was a member of the investment team focused on leveraged buyouts, leveraged recapitalizations and growth equity investments. She started her career in 1998 as a Business Analyst with Price Waterhouse, LLP. Ms. Ezzes holds a B.A. in International Relations and Russian Studies from Brown University.

Lesley Goldwasser, 59 [Appointed 12/31/20]
Director 

Ms. Goldwasser, age 59, has been a Managing Partner of GreensLedge Capital Markets LLC (“GreensLedge”) since September 2013. Prior to joining GreensLedge, she was associated with Credit Suisse Group AG (“Credit Suisse”) as a Managing Director from September 2010 to November 2013, where she had global responsibility for the Hedge Fund Strategic Services unit. Before Credit Suisse, Ms. Goldwasser spent 12 years at Bear Stearns where she was co-head of Global Debt and Equity Capital Markets units and had global responsibility for structured products. Prior to her tenure at Bear Stearns, Ms. Goldwasser spent 12 years at Credit Suisse in a variety of management positions, including responsibility for both the Asset Backed and Non-Agency Mortgage Trading Desks.  Ms. Goldwasser has been a member of the board of directors of TipTree Inc. (Nasdaq: TIPT), a financial services company, since January 2015.

ByRoman Developer