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Ideanomics Appoints New Officers and DirectorsNEW YORK, Nov. 14, 2018 /PRNewswire/ -- Ideanomics (NASDAQ: IDEX) ("Ideanomics" or the "Company"), a leading global fintech and asset digitization services company is pleased to announce that Alex Yao is named as Chairman of the Board of Directors and Brett McGonegal has been named the company's CEO. The Ideanomics management team and Board met with Dr. Wu to discuss the opportunity of his leading the China-US relations committee. Although Dr. Wu will be participating in a non-governmental organization, the level of interaction with government officials means that Dr. Wu cannot remain as the Chairman and CEO of a U.S. public company. As such, he will be stepping down from his positions at Ideanomics and will concentrate on this prestigious and highly visible role as an ambassador for the benefit of improved relations between China and the U.S. Dr. Wu will remain as special advisor to the Board of Directors of Ideanomics and will continue his current role as Chairman and CEO at Sun Seven Stars', his private, family-held, media and investment company which will remain as the largest shareholder of Ideanomics. Bruno Wu, the company's former Executive Chairman and co-CEO, commented, "Alex and Brett are exceptional leaders who have demonstrated financial services innovation and global market expertise throughout their careers. I have the utmost confidence that they will continue to drive shareholder value by leading Ideanomics to deliver the types of digital financial products that both asset holders and investors are looking for." Alex Yao is the Chief Executive Officer of Sun Seven Stars' majority controlled fintech and digital finance arm, as well as Managing Partner of Long March Capital, an investment management and advisory firm focused on mining and infrastructure. Mr. Yao has tremendous experience in private equity investments in energy, commodities, consumer financing and technology. He founded Long March Capital, an investment management and advisory firm focused on consumer finance and Fintech. Through the platform, Mr. Yao has worked with numerous large state-owned enterprises and financial institutions to successfully close several cross-border landmark acquisitions. Brett McGonegal joined thecompany in September 2018 as co-CEO. He brings significant operational and financial markets expertise, formerly serving as CEO of Hong-Kong listed investment bank The Reorient Group (376HK), which was sold to Alibaba's Jack Ma and associates in 2015 for $3.4bn from an original $11M investment just 4 years prior. Prior to Reorient, McGonegal was Co-Head of Equity Sales and Trading at Cantor Fitzgerald in Hong Kong and a Senior Managing Director at Charles Schwab Capital Markets in the U.S. Mr. McGonegal will be based out of New York and Hong Kong. Richard Frankel has been appointed Executive Vice Chairman to the Board of Directors of Ideanomics. Mr. Frankel has 25 years of combined FBI and other US Law Enforcement Community and prosecutorial experience. He is an expert in risk identification and mitigation strategies in business and security risks - cyber, criminal and operational threats. A former Associate Director of National Intelligence, and Senior FBI Representative to the Office of the Director of National Intelligence, Mr. Frankel served for more than 25 years in public service, the majority of his career with the Federal Bureau of Investigation (FBI). About Ideanomics We are headquartered in New York, NY, and have planned a "Fintech Village" center for Technology and Innovation in West Hartford, CT, and have offices in London, Hong Kong and Beijing, China. Safe Harbor Statement IR Contacts View original content to download multimedia:http://www.prnewswire.com/news-releases/ideanomics-appoints-new-officers-and-directors-300749999.html SOURCE Ideanomics |