TORONTO, March 10, 2016 /CNW/ - The Westaim Corporation
("Westaim" or the "Company") (TSXV: "WED") is pleased
to announce that Joseph A. Schenk
will join the Company as Managing Director effective March 10, 2016. Mr. Schenk will be based in
New York, NY.
Mr. Schenk has extensive experience in the global financial
services industry, including most recently serving as an Operating
Executive of The Carlyle Group's (NASDAQ: CG) Global Financial
Services Group. Prior to Carlyle,
Mr. Schenk served as Chief Executive Officer of First New York
Securities, LLC, a principal trading firm, and as Chief Executive
Officer of Pali Holdings, Inc., a boutique investment banking
firm. He spent 15 years with Jefferies Group, Inc., (NYSE:
JEF), a full service investment bank and institutional securities
firm, in various roles including Chief Financial Officer and
Executive Vice President. Prior to working in the financial
services industry, Mr. Schenk worked for Price Waterhouse. Mr.
Schenk serves, or has served, on the boards of Hudson Valley Bank (NYSE: HVB), Gain Capital
Holdings, Inc. (NYSE: GCAP), Duff & Phelps, ConvergEx Holdings,
LLC., Fordham Prep, the New York Catholic Foundation and St. Joe's
Seminary. Mr. Schenk holds a Bachelor of Science in Accounting from
the University of Detroit.
Cameron MacDonald, the President
and Chief Executive Officer of Westaim stated: "We are thrilled to
have Mr. Schenk join our senior management team. He has a deep
knowledge of the financial services sector and has been involved in
all aspects of the investment process. He will work closely with
our existing businesses and is expected to be intimately involved
with our efforts to identify, negotiate and close new investment
opportunities."
About Westaim
Westaim is a publicly traded Canadian investment company
specializing in providing long-term capital to businesses operating
primarily within the global financial services industry. Westaim
invests, directly and indirectly, through acquisitions, joint
ventures and other arrangements, with the objective of providing
its shareholders with capital appreciation and real wealth
preservation. Westaim's strategy is to pursue investment
opportunities with a focus towards the financial services industry
and grow shareholder value over the long-term. Westaim's
investments include significant interests in Houston International
Insurance Group, Ltd. and the Arena Investors group of
companies.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Except for statements of historical fact contained herein,
information in this press release may constitute "forward-looking
information" within the meaning of Canadian securities laws. Other
than statements of historical fact, all statements that involve
various known and unknown risks, uncertainties and other factors
are "forward-looking statements". There can be no assurance that
such statements will prove accurate. Results and future events
could differ materially from those anticipated in such statements.
Readers of this press release are cautioned not to place undue
reliance on these "forward-looking statements". Except as otherwise
required by applicable law, Westaim expressly disclaims any
intention or obligation to update publicly any forward-looking
information, whether as a result of new information, future events
or otherwise.
SOURCE Westaim Corporation