Marygold Companies Names Timothy M. Rooney President of Fintech Subsidiary

by James · January 19, 2023

Experienced Financial Services Executive to lead the company as it nears completion of development and introduction of innovative mobile banking app

SAN CLEMENTE, California, January 19, 2023–(BUSINESS WIRE)–The Marygold Companies, Inc. (“TMC,” or the “Company”) (NYSE American: MGLD), a diversified global holding company, today announced the appointment of Timothy M. Rooney as President of Marygold & Co., a wholly owned subsidiary created to develop and offer a unique mobile banking app built around a unified platform for spending, receiving, saving and investing.

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Timothy M. Rooney, newly appointed president of Marygold & Co. (Photo: Business Wire)

Part of the founding management team of Marygold & Co., Rooney joins the company to create and lead Marygold & Co. Advisory Services, LLC, a registered investment advisor. Having started his career in the banking sector, he has more than 20 years of experience in creating and launching successful financial services organizations and products, including mutual funds and exchange-traded funds and pension plans. Rooney had a ten-year career at Nationwide Investment Management Group, where he served as vice president of product development. He was also vice president, strategy for Sun America Retirement Markets, and he led strategic initiatives for Pacific Life Insurance Company.

Rooney earned an MBA in finance from the Leonard N. Stern School of Business at New York University and a BBA in finance from Baruch College. A strong believer in lifelong learning, he is a graduate of the Investment Strategy and Portfolio Management program at The Wharton School, University of Pennsylvania, and completed the FinTech program at Harvard University.

“Today’s announcement represents an important step in further strengthening our senior leadership team and in the growth and development of The Marygold, as our mobile banking app transitions from development to beta testing and we near the finish line to prepare for launch,” said Nicholas Gerber, CEO of The Marygold Companies. “Timothy is a visionary leader with the experience, drive and motivation to succeed. He has been closely involved in the development of the app from the beginning, and his behind-the-scenes knowledge puts him in the ideal position to lead the organization and take on the role of president.”

“I am incredibly excited to lead Marygold & Co. as we prepare to introduce what we believe will be the most innovative mobile banking product on the market,” said Rooney. “Fintech is widely regarded as a high-growth sector in an increasingly complex world. Our new app will truly enable customers to simplify and securely organize their financial lives.”

The app has been in development for the past three years and is currently in the beta testing phase. More than 10,000 potential customers are currently on the waiting list to download and start using the app. Among its unique features, the app will:

Allow clients to send payments to anyone securely.
Enables customers to save through interest-bearing FDIC-insured accounts, with no bank fees or minimum requirements, including customization of savings goals for specific purposes.
Provide the ability to customize investment, including the use of Money Pools, with diversified portfolios in accordance with user-selected goals and time-based goals.

About The Marygold Companies, Inc.

Marygold Companies, Inc., which changed its name from Concierge Technologies, Inc. in March 2022, was founded in 1996 and repositioned as a global holding company in 2015. The company currently has operating subsidiaries in financial services, food manufacturing, printing, security systems and beauty products, under the trade names USCF Investments, Tiger Financial & Asset Management Limited, Gourmet Foods, Printstock Products, Brigadier Security Systems and Original Sprout. Offices and manufacturing operations are in the US, New Zealand, UK and Canada. For more information, visit www.themarygoldcompanies.com.

About Marygold & Co.

Marygold & Co., a wholly owned subsidiary of The Marygold Companies, was established in the US in 2019 as a development company that is currently nearing completion of an innovative fintech mobile banking app. The offices are in Denver, Colorado. For more information, visit https://marygoldandco.com/.

Forward-looking statements

This press release contains “forward-looking statements” within the meaning of US federal securities laws. Words such as “expect”, “estimate”, “project”, “budget”, “forecast”, “anticipate”, “intend”, “plan”, “can”, “will”, “could”, “should” « mean, “anticipate”, “potential”, “continue” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements, including, but not limited to, completing the development and launch of the Company’s fintech mobile banking app, involve significant risks and uncertainties that could cause actual results to differ materially from anticipated results and, accordingly, should not be relied upon as predictions about future events. These forward-looking statements, including the factors disclosed in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on September 28, 2022, and in the Company’s other filings with the Securities and Exchange Commission, are not exclusive. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date they are made. Except as required by law, the Company disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this press release.