U.S. Markets open in 6 hrs 26 mins

ZAIS Group Holdings, Inc. Announces Management Changes

RED BANK, N.J., Jan. 5, 2018 /PRNewswire/ -- ZAIS Group Holdings, Inc. ("ZGH") announced today that Michael Szymanski has tendered his resignation as Chief Executive Officer, President and a Director and that the ZGH Board of Directors has elected Daniel Curry to succeed Mr. Szymanski in these positions.  Mr. Szymanski's resignation is effective as of the close of business on January 5, 2018 and the election of Mr. Curry is effective as of January 8, 2018.

In a letter of resignation submitted to the ZGH Board of Directors, Mr. Szymanski stated that his decision was in light of the Company's previously announced decision to pursue discussions with Christian Zugel which would result in taking the Company private through a proposed cash merger.  The Company stated that such discussions between Mr. Zugel and the Special Committee of the Board of Directors are continuing.  There is no assurance that an agreement to take the Company private will be reached.

Mr. Curry previously served as President and CEO of DBRS Group, an independent, privately held, credit rating agency.  Prior to his service at DBRS, Mr. Curry served as a Managing Director at Moody's on the Corporate Ratings team. Mr. Curry is a member of Z Acquisition LLC, the entity formed by Christian Zugel for purposes of his offer to take the Company private.

Mr. Szymanski stated: "I fully support the ongoing efforts to reach agreement on a going private transaction and I feel this is the right time for me to move on.  It has been a privilege to have served the Company as it achieved a number of milestones for our clients, shareholders and employees.  I especially want to thank Christian Zugel, as well as our Board of Directors, for their support over the years."

Mr. Zugel stated:  "We thank Mike for his service and his contributions and wish him well.  We look forward to working with Dan Curry, who brings great leadership skills and experience to ZAIS as we move to our next phase."

ABOUT ZAIS GROUP HOLDINGS, INC.

ZAIS (ZAIS) owns a majority interest in, and is the managing member of ZAIS Group Parent, LLC ("ZGP"). ZGP is the sole member of ZAIS Group, an investment advisory and asset management firm focused on specialized credit strategies with approximately $4.144 billion of assets under management as of September 30, 2017. Based in Red Bank, New Jersey with operations in London, ZAIS Group employs professionals across investment management, client relations, information technology, analytics, finance, law, compliance, risk management and operations. To learn more, visit www.zaisgroupholdings.com.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release contains statements that constitute "forward-looking statements," as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. These statements are generally identified by the use of words such as "outlook," "believe," "expect," "potential," "continue," "may," "will," "should," "could," "would," "seek," "approximately," "predict," "intend," "plan," "estimate," "anticipate," "opportunity," "pipeline," "comfortable," "assume," "remain," "maintain," "sustain," "achieve" or the negative version of those words or other comparable words.  These statements are based on management's current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements; the Company can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from the Company's expectations include, but are not limited to: the inability of the Company to realize the benefits of its Business Combination with HF2 Financial Management Inc.,  which may be affected by, among other things, competition, the ability of the Company to grow and manage growth profitably, and retain its management and key employees; the outcome of any legal proceedings that may be instituted against the Company or others following completion of the Business Combination; the inability to continue to be listed on the NASDAQ Stock Market; the risk that the Business Combination disrupts current plans and operations of the Company; costs related to the Business Combination; changes in political, economic or industry conditions, the interest rate environment or financial and capital markets, which could result in changes in demand for products or services or in the value of assets under management; the relative and absolute investment performance of advised or sponsored investment products; the availability of suitable investment opportunities; changes in interest rates; changes in the yield curve; changes in prepayment rates; the availability and terms of financing; conditions in the market for mortgage-related investments; the impact of capital improvement projects; the impact of future acquisitions or divestitures; the impact, extent and timing of technological changes and the adequacy of intellectual property protection; the impact of legislative and regulatory actions and reforms and regulatory, supervisory or enforcement actions of government agencies relating to the Company; terrorist activities and international hostilities, which may adversely affect the general economy, financial and capital markets, specific industries, and the Company; the ability to attract and retain highly talented professionals; the impact of changes to tax legislation and, generally, the tax position of the Company; legislative and regulatory changes that could adversely affect the business of the Company; and other factors, including those set forth in the Risk Factors section of the Company's Annual Report on Form 10-K  filed on March 24, 2017 and other reports filed by the Company with the Securities and Exchange Commission (the "SEC"), copies of which are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Cision

View original content:http://www.prnewswire.com/news-releases/zais-group-holdings-inc-announces-management-changes-300577986.html

  • Why These 3 Top Marijuana Stocks Slumped Today
    Business
    Motley Fool

    Why These 3 Top Marijuana Stocks Slumped Today

    With earnings season hitting a crescendo this week, investors are looking closely at the specific prospects for certain corners of the market, and that's contributing to disparities among the various major benchmarks followed most often by investors. Amid the crosscurrents, marijuana stocks took particularly hard hits, and New Age Beverages (NASDAQ: NBEV), Tilray (NASDAQ: TLRY), and Canopy Growth (NYSE: CGC) were among the worst performers on the day. All three of these stocks have given back some of their gains following the long-awaited legalization of recreational cannabis in the Canadian market last week. In the month leading up to the Oct. 17 start date for legal cannabis sales, New Age Beverages tripled in value, while Tilray had more than doubled since the end of August, and Canopy Growth had seen more modest gains of between 10% and 20%.

  • News
    CNBC

    Here's how much money you should have saved by 50

    Fidelity, the nation's largest retirement-plan provider, recommends having the equivalent of six times your annual salary saved. To get to that number, Fidelity recommends saving 15 percent of your annual income. Make sure to invest these funds instead of leaving them in a traditional low-interest savings account.

  • 4 Things Aurora Cannabis Did Right Before Its NYSE Debut
    Business
    Motley Fool

    4 Things Aurora Cannabis Did Right Before Its NYSE Debut

    Aurora Cannabis (NASDAQOTH: ACBFF) (TSX: ACB) has sought to make it even easier for U.S. investors to buy its shares by arranging to have its shares listed on the New York Stock Exchange. Beginning tomorrow, Oct. 23, Aurora will join the elite group of cannabis companies whose shares trade on major U.S. exchanges. Getting ready for the increased exposure that a NYSE listing brings takes time and effort, and Aurora Cannabis hasn't wasted any time.

  • Finance
    CNBC

    Here's the tax bite on $1.6 billion Mega Millions and $620 million Powerball jackpots

    Strategies can be employed to reduce the amount of your win that is taxed, although they are best explored with the help of an experienced tax advisor. While it's anyone's guess who will end up winning the Mega Millions and Powerball jackpots, there's at least one guaranteed recipient of a chunk of the loot — the IRS. With the Mega Millions jackpot at $1.6 billion and Powerball's top prize at $620 million, that tax bill will be hefty even if the winner employs strategies to reduce their taxable income.

  • China Will Open the World's Longest Sea Bridge This Week. A Lot of People Are Unhappy About It
    World
    Fortune

    China Will Open the World's Longest Sea Bridge This Week. A Lot of People Are Unhappy About It

    Later this week, the long-awaited 34-mile sea bridge connecting mainland China to Hong Kong and Macau will finally open. In a ceremony on Tuesday that Chinese president Xi Jinping will reportedly attend, the bridge will officially open. Some critics see the Hong Kong-Zhuhai-Macau Bridge as an attempt by mainland China to tighten its grip on Hong Kong, which is an autonomous region.

  • Watch out for ‘dead cat bounce’ in stocks because there’s more pain ahead: Morgan Stanley’s Wilson
    News
    MarketWatch

    Watch out for ‘dead cat bounce’ in stocks because there’s more pain ahead: Morgan Stanley’s Wilson

    October is living up to its infamous reputation as a volatile month for stocks with major indexes down sharply and there is likely more pain ahead for investors, according to one prominent Wall Street analyst. The recent rebound “was a dead cat bounce,” said Michael Wilson, an equity strategist at Morgan Stanley, in a report. After eking out gains last week, the S&P 500 (SPX) is trading below the 200 DMA of 2,768 Monday as stocks struggle for direction with third-quarter earnings cycle picking up pace.

  • These stocks may be sacrificed in a cold war with China
    COL
    CNBC Videos

    These stocks may be sacrificed in a cold war with China

    Jim Cramer says the escalation in the United States' trade war with China could end in an outright cold war that debilitates parts of the stock market.

  • Why Nektar Therapeutics Crashed 17.2% Today
    Business
    Motley Fool

    Why Nektar Therapeutics Crashed 17.2% Today

    After delivering a disappointing update on NKTR-214 in cancer patients this summer, Nektar Therapeutics' (NASDAQ: NKTR) shares have been struggling. The company didn't report any news today, so a negative report issued by Plainview LLC this month may be to blamed for its 17.2% tumble today. In February, Bristol-Myers Squibb (NYSE: BMY) inked a blockbuster deal to license rights to NKTR-214 following positive data last year for NKTR-214's use alongside Bristol-Myers' Opdivo.

  • AMD's Q3 Earnings to Benefit from Strong Demand for GPUs
    Business
    Zacks

    AMD's Q3 Earnings to Benefit from Strong Demand for GPUs

    Advanced Micro Devices AMD is set to report third-quarter 2018 results on Oct 24.The company is expected to gain from robust demand of graphic processor units (GPUs), which are now profusely used in industries like gaming, automotive and blockchain.Increasing

  • Global banks curb China travel after UBS banker stopped from leaving
    Business
    Reuters

    Global banks curb China travel after UBS banker stopped from leaving

    Global banks including Citigroup and Standard Chartered have asked their private banking staff to postpone or reconsider travel to China after authorities there prevented a UBS banker from leaving the country, sources said. BNP Paribas and JPMorgan have also asked their private banking employees to reconsider their China travel plans after the authorities' action against the UBS banker, two people familiar with the matter said. Swiss private bank Julius Baer, which manages assets worth $390 billion globally, has asked staff to be cautious about China travel plans, a separate person familiar with the matter told Reuters.

  • Finance
    American City Business Journals

    Microsoft's typical worker makes $168K a year — how that compares with Facebook, Google, PayPal, Box, Salesforce, Intel and other big Bay Area tech employers

    Microsoft Corp. is the latest major Silicon Valley tech employer to reveal just how much its typical employee earns — and how that compares with its top executive. The software giant's median employee pay — almost $168,000 — is high, even by Silicon

  • Why AMD Stock Fell 11% on October 19
    Finance
    Market Realist

    Why AMD Stock Fell 11% on October 19

    Semiconductor (SMH) stock Advanced Micro Devices (AMD) fell 11.1% on October 19 to close trading at $23.66. New Street Research analyst Pierre Ferragu has a 12-month price target of $18 for AMD. Ferragu stated, “AMD’s stock price reflects a scenario we don’t believe possible.

  • Why Pot Stocks Canopy Growth, Cronos Group, and Tilray Are Cratering Today
    Business
    Motley Fool

    Why Pot Stocks Canopy Growth, Cronos Group, and Tilray Are Cratering Today

    Canadian pot stocks are getting hit hard across the board today. As of 1:21 p.m. EDT, for example, shares of Canopy Growth Corporation (NYSE: CGC) and Cronos Group (NASDAQ: CRON) were both down by 11.2%, whereas Tilray's(NASDAQ: TLRY) stock had fallen by 14.4%. Canopy, Cronos, and Tilray all seem to be succumbing to a so-called "sell the news" event.

  • 3 Dividend Stocks That Pay You More Than Coca-Cola Does
    Business
    Motley Fool

    3 Dividend Stocks That Pay You More Than Coca-Cola Does

    With a better than 50-year history of paying dividends, Coca-Cola (NYSE: KO) is seen as an icon of stable, strong, secure payouts. Although Coke and its dividend are not in trouble, there are better investments to be found. Three stocks that these Motley Fool contributors particularly like are Dominion Energy (NYSE: D), AbbVie (NYSE: ABBV), and MGM Growth Properties (NYSE: MGP).

  • Can AMD Stock Go on a Bull Run Once Again?
    Business
    Motley Fool

    Can AMD Stock Go on a Bull Run Once Again?

    Advanced Micro Devices (NASDAQ: AMD) shares have fallen off a cliff over the past month, as investors are probably concerned about whether it can sustain its rally in the face of a fading tailwind and rising competition. The chipmaker has minted a lot of money thanks to cryptocurrency mining, but that catalyst is fizzling out and rival NVIDIA (NASDAQ: NVDA) has launched a new generation of graphics chips to reclaim its lost market share. AMD blames weak GPU sales to the cryptocurrency market for this slowdown, but recent developments indicate that it could easily surpass the low-balled guidance.

  • Former General Electric vice chair on the company's futur...
    Business
    CNBC Videos

    Former General Electric vice chair on the company's futur...

    Beth Comstock, Nike board member and former vice chair of General Electric, weighs in on the future of General Electric under new CEO Larry Culp.

  • Meet What Could Be Advanced Micro Devices' Next Billion-Dollar Business
    Business
    Motley Fool

    Meet What Could Be Advanced Micro Devices' Next Billion-Dollar Business

    Advanced Micro Devices (NASDAQ: AMD) CEO Lisa Su said earlier this year that the company plans to achieve "mid-single-digit server unit share" by the end of 2018. The chipmaker's server chip market share crossed 1% at the end of the second quarter. Mercury Research estimates that AMD now commands 1.3% of the server market as compared to just 0.5% earlier.

  • 5 Popular Marijuana Stocks I Wouldn't Buy With Free Money
    Business
    Motley Fool

    5 Popular Marijuana Stocks I Wouldn't Buy With Free Money

    Last week on Oct. 17, Canada lifted the curtain on nine decades of prohibition and legalized recreational marijuana for adults. Given the notable surge in pot stocks since the beginning of 2016, it's pretty evident that Wall Street and investors expect the industry to be a resounding success. With that being said, there are a handful of marijuana stocks -- some quite popular -- that I simply wouldn't buy, even if I were given free money to do so.

  • Which Canadian Marijuana Stock Will Enjoy a Bigger Bump From Its NYSE Listing -- Aphria or Aurora?
    Business
    Motley Fool

    Which Canadian Marijuana Stock Will Enjoy a Bigger Bump From Its NYSE Listing -- Aphria or Aurora?

    Maybe Wall Street should be called "Weed Street." Big Canadian marijuana grower Canopy Growth listed its stock on the New York Stock Exchange (NYSE) earlier this year. Aurora Cannabis (NASDAQOTH: ACBFF) begins trading on the NYSE on Tuesday, Oct. 23. Aphria (NASDAQOTH: APHQF) filed last week to list its stock on the NYSE.

  • This Warren Buffett Stock Is Dirt Cheap Right Now
    Business
    Motley Fool

    This Warren Buffett Stock Is Dirt Cheap Right Now

    Warren Buffett has amassed a large portfolio of bank stocks for Berkshire Hathaway (NYSE: BRK-A) (NYSE: BRK-B) with major holdings in Bank of America (NYSE: BAC), Wells Fargo (NYSE: WFC), and American Express (NYSE: AXP), just to name a few of the most well-known and largest investments. Synchrony is a major issuer of store-branded credit cards and also operates a rapidly growing online banking platform.

  • Investors Dumped Cannabis Stocks after Legalization Last Week
    Finance
    Market Realist

    Investors Dumped Cannabis Stocks after Legalization Last Week

    Cannabis Stocks Getting Dumped after Legalization? Cannabis sector Last week, the overall cannabis sector ended in negative territory. The Horizons Marijuana Life Sciences ETF (HMMJ) lost almost 5.4% of its value, while the Emerging Marijuana Growers

  • Aurora Cannabis prepares for NYSE debut on Oct. 23
    Finance
    Yahoo Finance Canada

    Aurora Cannabis prepares for NYSE debut on Oct. 23

    One of Canada’s largest marijuana producers is gearing up for its big debut on the New York Stock Exchange on Tuesday, Oct. 23. Edmonton-based Aurora Cannabis will be the third major Canadian cannabis company to go public in the U.S., where marijuana is still an illegal substance in most states. Aurora will be following in the steps of Tilray, which became the first U.S. marijuana IPO in July, and Canopy Growth, which debuted in the U.S. markets in May.

  • Aurora Cannabis is plunging ahead of its debut on the New York Stock Exchange
    Business
    Business Insider

    Aurora Cannabis is plunging ahead of its debut on the New York Stock Exchange

    Aurora Cannabis is set to begin trading on the New York Stock Exchange on Tuesday under the ticker ACB. Aurora Cannabis was plunging Monday, down more than 14%, one day ahead of the company's trading debut on the New York Stock Exchange. The Canadian producer, which grows cannabis for both the adult-use and medicinal market, has seen its market capitalization explode by more than 150% since August — to nearly $10 billion — as both corporate giants and investors have gotten in on the "green rush" into marijuana.

  • Suze Orman has a killer question for your retirement
    Business
    MarketWatch

    Suze Orman has a killer question for your retirement

    Suze Orman is one of those singular personalities in the financial business who seems to be right on the pulse of everyone she meets. She’s written books, starred in her own television show and made innumerable appearances in person. Like Oprah

  • Business
    CNBC

    Two tech stocks to buy and one to avoid heading into busiest week of earnings

    "Amazon AMZN , Google GOOGL , Microsoft MSFT — we like and own all of these, and one of the things that all three have in common is that they're huge players in cloud computing and that space is going to continue to see accelerating growth over the next several years," Tepper told CNBC's " Trading Nation " on Friday.