Michael Hutchby's New Role at Marblegate Capital Corporation
Michael Hutchby's New Role at Marblegate Capital Corporation
Marblegate Capital Corporation (OTCQX: MGTE), a dynamic player in the taxi industry, has appointed Michael Hutchby as its new Chief Financial Officer. Hutchby, with over twenty years of expertise in corporate development, capital markets, and mergers and acquisitions, joins the company with impressive credentials, having previously served as the Chief Financial Officer and Controller at Cherry Hill Mortgage Investment Corporation.
Transition in Leadership
This strategic move is significant for Marblegate, as Hutchby takes over from Jeffrey Kravetz, who will assist during the transition period before focusing entirely on his role at Marblegate Asset Management. Hutchby's experience, especially during his tenure at Cherry Hill, where he held influential roles including Chief Financial Officer, Treasurer, and Secretary, positions him well for steering the financial direction of Marblegate Capital. His background also includes vital experience as Vice President of Capital Markets at Freedom Mortgage, specializing in mergers and acquisitions and capital raising.
Strengthening the Financial Operations
Andrew Milgram, CEO of Marblegate Capital Corporation, highlighted Hutchby's extensive experience in driving strategic financial operations amidst the complexities of the capital markets. Milgram emphasized that Hutchby’s expertise in operational excellence, regulatory compliance, and financial fortitude would significantly contribute to enhancing value for both the company and its shareholders. The acknowledgment of Kravetz's leadership underlines the company's commitment to smooth leadership transitions, ensuring a focus on continuing growth and stability.
Marblegate's Vision for the Taxi Industry
Marblegate Capital Corporation operates as a vertically integrated fleet operator and a specialty finance lender in the New York City taxi market. With aspirations of being the largest publicly traded entity within this segment, the company aims to reshape and institutionalize the taxi industry. The strategic vision is backed by the deep industry knowledge and operational capabilities of Marblegate Asset Management, underscoring ongoing initiatives such as the NYC MRP+ medallion debt relief program, which assists taxi drivers impacted by previous predatory lending practices.
The Role of Marblegate Asset Management
Established in 2008, Marblegate Asset Management focuses on investment management, particularly in distressed and special situations. By fostering positive business transformations, Marblegate brings a distinctive, hands-on approach aimed at creating value in complex environments. Their role in the NYC MRP+ medallion debt relief program is a testament to their commitment to driving positive change within the industry, offering financial relief to many struggling drivers.
About Marblegate Capital Corporation
Marblegate Capital Corporation, operating under the OTCQX: MGTE ticker, has positioned itself as a comprehensive fleet operator with a particular emphasis on telephone taxi services in New York City. The company specializes in NYC taxi medallions in multiple capacities, which aligns with its overarching mission to understand and impact the taxi business profoundly. With a robust portfolio comprising over 1,700 collateralized medallions and 2,000 owned medallions, Marblegate is poised as a leading lender and operator in this unique market.
Frequently Asked Questions
Who is Michael Hutchby?
Michael Hutchby is the newly appointed Chief Financial Officer of Marblegate Capital Corporation, bringing extensive experience in corporate finance.
What role did Jeffrey Kravetz play at Marblegate?
Jeffrey Kravetz served as the previous CFO and will assist in the transition before focusing on his responsibilities at Marblegate Asset Management.
What is Marblegate Capital Corporation's main focus?
Marblegate specializes in operating as a fleet operator and finance lender in the New York City taxi market.
What initiatives has Marblegate undertaken within the taxi industry?
The company is involved in the NYC MRP+ medallion debt relief program, offering financial support to taxi drivers affected by predatory lending.
What distinguishes Marblegate Capital Corporation?
The company is recognized as a vertically integrated player in the taxi market, with a comprehensive understanding of the industry.
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