Hudson Holding Corp. Adds Former Chairman and CEO of Knight, Ken Pasternak, Former President of Jefferies Group, John Shaw and J
January 07 2010 - 10:26AM
PR Newswire (US)
JERSEY CITY, N.J., Jan. 7 /PRNewswire-FirstCall/ -- Hudson Holding
Corporation (OTC:HDHL) (BULLETIN BOARD: HDHL) , parent of Hudson
Securities, Inc., today announced that three new independent
directors, Kenneth D. Pasternak, John C. Shaw Jr. and John (Jack)
W. Mascone, all with broad industry expertise, have been elected to
the Board of Directors at the firm's Annual Meeting of Stockholders
held this past December. Mr. Pasternak has been appointed Chairman
of the Board by the Board of Directors. The Hudson Holding Corp.
Board now consists of five independent directors, and two members
of management. "I am delighted to be working with the new slate of
independent directors. A strong corporate governance structure with
an independent board of this caliber is an important step for
Hudson. I will draw on their vast experience as we expand Hudson's
presence as a full service securities and investment banking firm
with a strong wholesale market making platform. A board of this
stature will be very strategic as we continue to strengthen our
institutional sales effort and pursue a variety of opportunities
following our recently completed financing," noted Anthony (Tony)
M. Sanfilippo, the Company's Chief Executive Officer. Newly
appointed Chairman Ken Pasternak stated, "I look forward to serving
in my new role as Chairman of the Board and to working with Tony,
the full Board of Directors and Hudson's management team. I have
invested in the company because of its vision and business model.
There has been a significant consolidation in the industry, and I
believe that Hudson is well positioned to leverage its highly
scalable trading platform." Ken Pasternak, a major stockholder of
Hudson, co-founded Knight Capital Group, Inc. (ticker: NITE) and
served as its Chief Executive Officer from its formation in 1995
until 2002. In addition to Pasternak, stockholders elected John
Shaw, who retired as President and Chief Operating Officer of
Jefferies Group, (ticker: JEF), after a 23 year career with that
firm. Shareholders also elected Jack Mascone, Managing Director of
The Seaport Group, LLC, a fixed income institutional sales and
trading firm. Existing independent directors Joanne Landau and
Peter Zugschwert were re-elected as were the Company's Chief
Executive Officer and President. "Hudson is in a position to
significantly increase its value proposition to clients by
maximizing the strategic value of its trading platform. This Board
brings together individuals who understand the transformative
process and are committed to making it a reality. The recent hiring
of Tony Sanfilippo as CEO provides the proven management depth
critical to this effort," stated new Board member John Shaw. New
Board member Jack Mascone added, "I'm delighted to bring my
securities and fixed income trading expertise to the table. As a
key stockholder in the company, The Seaport Group and its
principals recognize Hudson's untapped potential." Hudson Holding
Corporation is a publicly traded company on the OTC Bulletin Board
under the symbol "HDHL" and is the parent of Hudson Securities,
Inc. and Hudson Technologies, Inc. Hudson Securities, Inc. is
dedicated to meeting the liquidity needs of its clients --
institutions, hedge funds, asset managers, and broker dealers -- by
providing execution solutions and making markets in over 15,000
U.S. and foreign securities and ADRs. As a registered broker-dealer
under the Securities Exchange Act of 1934, Hudson Securities is a
member of the Financial Industry Regulatory Authority ("FINRA") and
has been in business since 1984. Hudson Technologies provides
technology services to Hudson Securities and client companies.
Certain statements contained herein constitute "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. 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. Readers are cautioned that any such forward-looking
statements are not guarantees of future performance and are subject
to certain risks, uncertainties and assumptions that are difficult
to predict. Because such statements involve risks and
uncertainties, the actual results and performance of the Company
may differ materially from the results expressed or implied by such
forward-looking statements. Given these uncertainties, readers are
cautioned not to place undue reliance on such forward-looking
statements. Unless otherwise required by law, the Company also
disclaims any obligation to update its view of any such risks or
uncertainties or to announce publicly the result of any revisions
to the forward-looking statements made here; however, readers
should review carefully reports or documents the Company files
periodically with the Securities and Exchange Commission. Contacts:
Anthony (Tony) M. Sanfilippo Keith R. Knox Andrew Lewin CEO
President Investor Relations 201-216-0100 201-216-0100 DATASOURCE:
Hudson Holding Corporation CONTACT: Anthony (Tony) M. Sanfilippo,
CEO, or Keith R. Knox, President, both of Hudson Holding
Corporation, +1-201-216-0100; Andrew Lewin, Investor Relations, Web
Site: http://www.hudsonsecurities.com/
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