Director and Personnel Announcement

RNS Number : 6847Y

Alpha Growth PLC

08 September 2022

 

Alpha Growth plc

(" Alpha " or the "Company")

Director and Personnel Announcement

Alpha Growth Plc (LSE: ALGW and OTCQB: ALPGF), a leading financial services specialist in the growing longevity asset class, announces the following changes to the Board of Directors and management.

The Directors of Alpha Growth Plc are very pleased to announce that Chad Schafer will be joining the executive team of the Company as Head of Affiliated Funds on September 26^th. This role reports directly into Alpha Growth's Executive Chairman, Gobind Sahney, and gives Chad overall responsibility for Alpha's fund business at this important stage in our evolution.

Chad held leadership positions within Wells Fargo Bank over the past 15 years and joined Computershare Trust Company when they acquired his business unit in November 2021. He is a recognised expert in structured securities.

During his time at Wells Fargo Bank and latterly Computershare, Chad was actively involved in managing deal negotiations of complex securitizations for life and structured settlement transactions as well as a multitude of other asset classes.  Other core responsibilities included managing relationships with investment banks, finance companies, law firms, rating agencies and credit providers to generate significant new opportunities. 

On average, Chad was responsible for closing over 50 Securitizations and Credit Facilities per year - with facilities ranging in size from $40 million to over $1 billion. The Company believes Chad's background, experience and impressive network make him ideally placed to supercharge the growth of Alpha Growth's fund business.

Chad stated, "I have been discussing this opportunity with Jason Sutherland for a period of time and I'm incredibly excited to be joining Alpha Growth as it continues to rapidly scale and execute upon its strategy of managing over $2bn of AUM by 2025. We have a strong pipeline of initiatives which will continue to see the company evolve into a  market leading organisation within its sector and I look forward to supporting Gobind and the board as we continue to execute our strategy." 

As of August 31 2022, Danny Swick has stepped down as Director and Chief Operating Officer of Alpha Growth.  The Directors would like to thank Danny for his hard work, commitment and significant achievements over the past few years and we wish him well in his new endeavours.

To support Alpha's ambitious growth plans, the Company will also shortly be initiating a search process to further strengthen its board of directors and to ensure we are an attractive investment proposition.

Gobind Sahney, Executive Chairman said, "It's been a very busy summer period for Alpha Growth and we have continued to successfully execute a number of key initiatives to support our overall business strategy.

I am very pleased to welcome Chad to the Alpha Growth leadership team, his skills and experience further strengthen our capability and will allow us to supercharge the growth of our Fund business. We expect to announce a significant development within our Fund management business within the month.

I also look forward to positively updating investors on our Guernsey acquisition by the end of this month."

Gobind continued, "Finally, I would like to take the opportunity to thank Danny for the significant contributions he has made to the Company since joining and wish him well for the future."

For more information, please visit www.algwplc.com or contact the following:

Alpha Growth Plc	[phone]
Gobind Sahney, Executive Chairman	[e-mail]
UK Investor Relations - Mark Treharne	[e-mail]

About Alpha Growth plc

Specialist in Longevity Assets

Alpha Growth plc is a financial advisory business providing specialist consultancy, advisory, and supplementary services to institutional and qualified investors globally in the multi-billion dollar market of life insurance linked longevity assets. Building on its well-established network, the Alpha Growth Group has a unique position in the longevity asset services and investment business, as a listed entity with global reach. The Group's strategy is to expand its advisory and business services via acquisitions and joint ventures in the UK and the US to attain commercial scale and provide holistic solutions to alternative institutional investors who are in need of specialised skills and unique access to deploy their financial resource in longevity assets.

Longevity Assets and Non-correlation

As a longevity asset, it is non-correlated to the real estate, equity capital and commodity markets.  Its value is a function of time because as time passes the value gets closer to the face value of the policy. Hence creating a steady increase in the net asset value of the investment. This makes it highly attractive to investors wishing to counteract volatility within an investment portfolio and add yield.

Note: The Company only advises on and manages Longevity Assets that originate in the USA where the structured and life settlement market is highly regulated.

Important Notice

The content of this announcement has not been approved by an authorised person within the meaning of the Financial Services and Markets Act 2000 (FSMA). This announcement has been issued by and is the sole responsibility of the Company. The information in this announcement is subject to change.

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