Patricia Ziegler and
Stephen Bacso bring decades of
combined financial services experience and technology-driven
leadership
NEW YORK, April 3, 2019 /CNW/ -- DelphX Capital
Markets Inc. (TSXV: DELX)
("DelphX") announced today the appointment of
Patricia Ziegler and Stephen Bacso as co-CEOs. Founder Larry Fondren will assume the role of Executive
Chairman and continue his efforts to drive the growth of the
company through innovation and development of new
customers.
"We're delighted to introduce Patricia and Stephen as co-CEOs,"
said Mr. Fondren. "The combination of Patricia and Stephen's
insights, expertise, and leadership will be vital as we now move to
fully implement our strategy and seize the market opportunity
before us. They are experienced results-oriented executives that
uniquely complement each other's skills."
In their respective positions as co-CEOs, Patricia and Stephen
will play significant roles in raising capital, developing new
customer relationships, and leading the company's growth strategy
and execution. Patricia will lead the company's investor and
public relations, corporate affairs, finance, marketing,
communications and culture. Stephen will continue to lead the
DelphX vision and innovation in areas of technology and product,
while overseeing operations and implementation with
customers.
"We are thrilled to have Patricia and Stephen jointly lead
DelphX forward," said Keith
Ainsworth, DelphX Non-Executive Director. "Larry has done an
exceptional job of creating a compelling and critical solution for
optimal management of default risk and materially enhancing credit
yields. Patricia and Stephen will bring the right strategic
leadership and operational skills to grow the company, effectively
execute and deliver strong financial performance."
Ms. Ziegler joined the company earlier this year as Senior
Advisor. An experienced executive with nearly 25 years in the
financial services industry, she was most recently President and
Chief Operating Officer of Continuum Financial Centres. Prior to
that role, Patricia served in key executive leadership
roles—including Chief Marketing and Corporate Strategy Officer,
Chief Corporate Services Officer and Chief Operating Officer—at
Financial Horizons Group, a Canada-based financial services firm. During
her time there she oversaw an 800% growth in EBITDA over a 7-year
period. Prior to that she served in numerous senior leadership
positions at Sun Life Financial. Patricia has an MBA and has twice
been named one of Canada's most
influential women in financial services.
Mr. Bacso has served as Chief Technology Officer for DelphX
since 2017, leading the development and deployment of the DelphX
Alternate Trading System (ATS). He is an accomplished technology
entrepreneur with a track record of success. His first company
PixStream developed a video networking platform for
telecommunications companies that was acquired by Cisco. Stephen
has also designed and implemented blockchain, machine learning and
artificial intelligence technologies focused on financial asset
management and personalized medicine. His work includes developing
technologies to automate the management and trading of portfolios
of futures and other asset classes. Stephen holds a Bachelor of
Science from University of Western
Ontario and an MBA from the Richard Ivey School of
Business.
For more information about Ms. Ziegler and Mr. Bacso, visit the
company's website at https://www.delphx.com/our-team/.
About DelphX:
DelphX is a technology and financial services company focused on
optimizing fixed income markets. Its Cloud-based platform employs
distributed ledger technology, actuarial science and reinsurance
protocols to enable fixed income dealers to offer new Rule 144A
securities that optimally diffuse credit risk. The new
DelphX platform will be regulated by the SEC and enable
dealers to competitively structure, sell and make markets in:
- Covered Put Options (CPOs) that provide secured default
protection for underlying corporate, municipal and sovereign
securities, with each CPO strike-price equaling the par value of
its underlying security
- Covered Reference Notes (CRNs) that enable credit investors to
take on the default exposure of a single underlying security or
optionally participate in a pool of diversified risks that broadly
diffuses the impact of credit events.
All CPOs and CRNs will be collateralized by investment grade
assets held in custody by an independent custodian and
transparently administered within DelphX's immutable distributed
ledger. A traditional book-entry record of each security will also
be maintained in parallel by an independent issuing and paying
agent to provide additional transparency and efficiency.
For more information about DelphX, please visit
www.delphx.com.
Forward-Looking Statements
This news release contains certain "forward-looking statements"
including, without limitation, statements regarding the launch of
the DelphX platform. Such forward-looking statements involve risks
and uncertainties, both known and unknown. The results or events
depicted in these forward-looking statements may differ materially
from actual results or events. In addition to other factors and
assumptions which may be identified herein, assumptions have been
made regarding and are implicit in, among other things: the state
of the capital markets, tax issues associated with doing business
internationally, the ability of DelphX to successfully manage the
risks inherent in pursuing business opportunities in the financial
services and Blockchain industry, and the ability of DelphX to
obtain qualified staff, equipment and services in a timely and
cost-efficient manner to develop its business. Any forward-looking
statement reflects information available to DelphX as of the date
of this news release and, except as may be required by applicable
securities laws, DelphX disclaims any intent or obligation to
update any forward-looking statement, whether as a result of new
information, future events or results or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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SOURCE DelphX Capital Markets Inc.
