SANTA MONICA, Calif., Sept. 08, 2016 (GLOBE NEWSWIRE) — A-Mark Precious Metals, Inc. (NASDAQ:AMRK), a full-service precious metals trading company and an official distributor for all the major sovereign mints, has entered into a new three-year employment agreement with Thor Gjerdrum. As part of the agreement, Gjerdrum was promoted to the position of president, succeeding … Continued
SANTA MONICA, Calif., Sept. 08, 2016 (GLOBE NEWSWIRE) — A-Mark Precious Metals, Inc. (NASDAQ:AMRK), a full-service precious metals trading company and an official distributor for all the major sovereign mints, has entered into a new three-year employment agreement with Thor Gjerdrum. As part of the agreement, Gjerdrum was promoted to the position of president, succeeding David Madge who was appointed to the new position of chief marketing officer.
Gjerdrum has served as A-Mark’s EVP and COO since 2013, and as CFO from 2010 to 2013. Previously, Gjerdrum held a range of positions with two publicly traded telecommunications companies, including vice president of finance. Gjerdrum received a Bachelor of Science degree in accounting from Santa Clara University.
“We look forward to further benefiting from Thor’s proven financial and operational acumen, as well as deep understanding of our business and industry as our new president,” said company CEO, Greg Roberts. “These qualities will prove to be instrumental in helping us scale the company.”
A-Mark also appointed David Madge to the new position of CMO. Madge will be responsible for expanding the company’s marketing platform across its various business units, as well as marketing the company’s expanding portfolio of value-added products.
Prior to the position of CMO, Madge served as President of A-Mark since 2011. Previously, Madge held various positions with the Royal Canadian Mint (RCM), a Commercial Crown Corporation of the Government of Canada, since 1995, most recently serving as executive director of the Bullion and Refinery Business Services. Madge received a Bachelor of Science degree in 1983 and a Bachelor of Arts degree in 1987, each from the University of Waterloo (Ontario, Canada).
“David is considered a pioneer in the custom coin business,” commented Roberts. “He established A-Mark’s value-added products segment a couple of years ago and has grown it to more than 40 products in the market today. As our new CMO, we believe David’s industry knowledge and thought leadership will help expand the A-Mark brand not only domestically but also internationally.”
About A-Mark Precious Metals
A-Mark Precious Metals, Inc. is a full-service precious metals trading company and an official distributor for many government mints throughout the world. The company offers gold, silver, platinum and palladium in the form of bars, plates, powder, wafers, grain, ingots and coins. Its Industrial unit services manufacturers and fabricators of products utilizing or incorporating precious metals, while its Coin & Bar unit deals in over 200 coin and bar products in a variety of weights, shapes and sizes for distribution to dealers and other qualified purchasers. The company operates trading centers in Santa Monica, California, and Vienna, Austria, for buying and selling precious metals.
In addition to wholesale and trading activity, A-Mark offers customers a variety of services, including financing, consignment and various customized financial programs. As a U.S. Mint-authorized purchaser of gold, silver and platinum coins, A-Mark purchases bullion products directly from the U.S. Mint for sale to customers. A-Mark also has distributorships with other sovereign mints, including in Australia, Austria, Canada, China, Mexico and South Africa. Customers of A Mark include mints, manufacturers and fabricators, refiners, coin and metal dealers, banks and other financial institutions, jewelers, investors and collectors. For more information about A-Mark Precious Metals, visit www.amark.com.
Through its subsidiary Collateral Finance Corporation, a licensed California Finance Lender, the company offers loans collateralized by numismatic and semi-numismatic coins and bullion to coin and metal dealers, investors and collectors. Through its Transcontinental Depository Services subsidiary, it offers a variety of managed storage options for precious metals products to financial institutions, dealers, investors and collectors around the world. Through its A-M Global Logistics subsidiary, the company provides its customers an array of complementary services, including storage, shipping, handling, receiving, processing, and inventorying of precious metals and custom coins on a secure basis.
CONTACT: Company Contact:
Thor Gjerdrum, President
A-Mark Precious Metals, Inc.
Investor Relations Contact:
Matt Glover or Najim Mostamand