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GWG Holdings Appoints New CFO

GWG Holdings Inc., the bankrupt financial services firm and sponsor of non-traded direct investment offerings, announced that Michael A. Tucker was appointed by the GWG board of directors as chief financial officer of the company.

As The DI Wire reported, GWG has had significant changes this year, ranging from bankruptcy to multiple resignations of key leaders in the company.

According to GWG, with the support of additional personnel from FTI Consulting Inc., Tucker will perform the ordinary course duties of a chief financial officer in connection with the company’s chapter 11 cases and related matters and report to the chief executive officer. The company intends to file a motion in the Bankruptcy Court of the Southern District of Texas in regarding the new CFO’s appointment.

Tucker has extensive experience in advising companies, creditors and other parties in restructuring and operational improvement situations during his 37-year career. Tucker has also been part of management teams including having been appointed the chief restructuring officer of Martifer Solar USA Inc in March 2014 and then the chief executive officer and chief financial officer in April 2014 until June 2015. Tucker began his career in the audit department at PricewaterhouseCoopers in 1985 and was admitted to the partnership in 1998. In 2002, FTI Consulting acquired PwC’s business recovery services practice, where Tucker was a partner.  Tucker has been employed as a senior managing director by FTI continuously since 2002.

Tucker earned his bachelor’s in accounting from the University of Illinois.

GWG Holdings is a financial services firm based in Dallas. Through its subsidiary, GWG Life LLC, GWGH owns and manages a portfolio of life insurance policies that, as of Sept. 30, 2021, included $1.8 billion in face value of life insurance policy benefits.

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