London listed-Litigation Capital Management (LCM) has appointed David Collins as its new chief financial officer, as Mary Gangemi is set to resign.
Collins is a chartered accountant, having started his career off at EY over 20 years ago. He has since worked in several senior finance and capital market roles across a range of institutions including Morgan Stanley, Sculptor Capital and Prudential.
He has also previously served as a CFO of Vannin Capital, a litigation funder that was acquired by Fortress Investment Group in 2019.
Since earlier this year, Collins has been acting as a financial advisor. Despite that he will not initially be a member of the board, but, is considered a person discharging managerial responsibilities, however, he is expected to join LCM’s board in due course.
The firm’s current CFO is Gangemi, who had held the position for over four years. She is now expected to step down from her position after a period of transition at which time it is expected she will resign her position on the board.
Commenting on the new appointment, Patrick Moloney, chief executive officer of LCM noted that Collins “brings a wealth of experience and a strong track record in financial leadership.”
“We see significant opportunities in our markets to drive meaningful shareholder value creation and I am sure that David will play a pivotal role in helping us capitalise on them.”
He added that he “would like to extend my gratitude to Mary [Gangemi] for her contribution to LCM over the past four and a half years. I wish her the very best in her future endeavours.”