CLEVELAND, Jan. 31, 2018 (GLOBE NEWSWIRE) — Innovest Global, Inc. (OTC PINK:IVST) welcomes Bank CFO and former financial institution regulator Jason Painley, to its Board of Directors.
Innovest’s goal to grow significantly by acquiring operating companies in a select few industries, and get new customers in cost effective ways, has been made clear in the last few months. Their plan to do so with “a focus on reduced risk” became clearer today with the announcement of Jason Painley as a member of the Board of Directors.
“Every company at our stage, when it’s getting momentum, says it plans to grow rapidly,” said Innovest CEO, Dan Martin. “The real question is, ‘at what level of risk are they willing to do it – is it responsible?’ That risk profile is what truly defines the level of likelihood that the aggressive growth strategy is valid, and sustainable.”
Painley’s experience is a perfect fit for the Innovest board. He’s not only a bank officer, CPA, and risk expert, but also an expert in the best-practices, structures, and reporting nuances of various holding companies.
From 2001 to 2011, Painley was an Examiner and Accounting Policy Specialist for the Federal Reserve Bank of Cleveland, with responsibilities at the national Federal Reserve System level. While there, he was charged with monitoring, analyzing, interpreting, and proactively addressing a wide variety of factors related to ensuring that financial institutions were operating in a safe manner, and in compliance with banking laws and regulations. He also led onsite examinations of institutions ranging from small, to over $250 billion assets, and worked constructively with financial institution executives and boards of directors.
Since then, until last month he was Senior Vice President and Chief Risk Officer of Park National Corporation (NYSE:PRK), which has over $7 billion in assets and employs nearly 2,000 associates. His job spanned all functional areas of the bank, and was to constantly evolve a risk-aware culture in order to avoid, proactively minimize, and immediately address all forms of potential and manifested risks, financial and otherwise. Now, he has taken on greater functional responsibility becoming the Chief Financial Officer of Ohio based Mechanics Bank.
“Risk needs to be understood by everyone in the organization, and everyone needs to understand what their roles are as far as identifying risk and reporting that risk to the right people,” said Mr. Painley. “I’m extremely excited to see an entrepreneurial and aggressive holding company like Innovest, place such a high level of importance on managing risk. I don’t hear that frequently. This is one of many foundational principles I see that give me a lot of faith in their model, and I’m excited to join the board and be there for the team.”
Innovest’s diversified holding company model, and their focus on efficient customer acquisition and reduced risk, are the core tenets of what the company hopes will create significant value for their shareholders.
Follow us on Twitter @innovestglobal for important company updates! For more information on Innovest contact info@innovestglobal.com, or call Innovest investor Relations Matt Rego at 216.815.1122.
Safe Harbor Statement: This news release contains “forward-looking statements”, which are statements that are not purely historical and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Disclaimer:
Spotlight Growth is compensated, either directly or via a third party, to provide investor relations services for its clients. Spotlight Growth creates exposure for companies through a customized marketing strategy, including design of promotional material, the drafting and editing of press releases and media placement.
All information on featured companies is provided by the companies profiled, or is available from public sources. Spotlight Growth and its employees are not a Registered Investment Advisor, Broker Dealer or a member of any association for other research providers in any jurisdiction whatsoever and we are not qualified to give financial advice. The information contained herein is based on external sources that Spotlight Growth believes to be reliable, but its accuracy is not guaranteed. Spotlight Growth may create reports and content that has been compensated by a company or third-parties, or for purposes of self-marketing. Spotlight Growth was compensated five hundred dollars cash and fifty thousand restricted shares for the creation and dissemination of this content.
This material does not represent an investment solicitation. Certain statements contained herein constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements with respect to the Company’s plans and objectives, projections, expectations and intentions. These forward-looking statements are based on current expectations, estimates and projections about the Company’s industry, management’s beliefs and certain assumptions made by management.
The above communication, the attachments and external Internet links provided are intended for informational purposes only and are not to be interpreted by the recipient as a solicitation to participate in securities offerings. Investments referenced may not be suitable for all investors and may not be permissible in certain jurisdictions.
Spotlight Growth and its affiliates, officers, directors, and employees may have bought or sold or may buy or sell shares in the companies discussed herein, which may be acquired prior, during or after the publication of these marketing materials. Spotlight Growth, its affiliates, officers, directors, and employees may sell the stock of said companies at any time and may profit in the event those shares rise in value. For more information on our disclosures, please visit: https://spotlightgrowth.com//disclosures/
