Market Overview

RCS Capital Corporation Announces Changes to Board of Directors


RCS Capital Corporation ("RCS Capital") (NYSE: RCAP) today announced certain changes to the composition of its board of directors which further simplifies RCS Capital's governance structure and increases the proportion of independent members serving on its board of directors. R. Lawrence "Larry" Roth and Peter M. Budko have resigned from the RCS Capital board of directors. Neither Messrs. Roth nor Budko resigned as a result of any disagreement with RCS Capital or its board of directors. Mr. Roth will instead concentrate his energies on his responsibilities as chief executive officer of Cetera Financial Group, RCS Capital's independent retail advice division. Mr. Budko has informed the board he will concentrate his energies on his responsibilities in connection with the recently announced creation of AR Global Investments.

As a result of these changes, the RCS Capital board of directors is comprised of seven directors, a majority of which are independent and all of whom bring to RCS Capital significant industry, senior leadership and corporate governance experience.

Posted-In: News Press Releases


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