Marble Financial Inc, an AI-powered financial technology company, added financial services and capital markets veteran Frederik Westra to the company's Advisory Board, as the company expands its fintech capabilities.
In a statement, the Vancouver-based company said Westra has nearly 17 years of experience in the industry managing teams and processes providing services in equities, fixed income, foreign exchange, financing, and mergers and acquisitions to institutional investors and corporate issuers.
Most recently, Westra served as Head of Capital Markets at one of Canada's largest securities dealers, Industrial Alliance (TSX:IAG) Securities Inc, where he oversaw research, investment banking, equity and debt capital markets/syndication, as well as institutional sales and trading across all products.
Earlier in his career, Westra also worked in equity research roles at a Canadian Bank and one of Canada's largest independent dealers. Westra holds a Bachelor of Commerce from the John Molson School of Business in Finance and Economics where he graduated with Honours.
"We are pleased to welcome Frederik to our Advisory Board," Marble CEO Karim Nanji said in a statement. "Given his successful career spanning over a decade within capital markets and corporate finance, he will be able to draw from his expertise to assist our future growth. We look forward to working with him on accomplishing our corporate objectives."
Westra noted that Marble has assembled an “exciting” collection of fintech capabilities to address challenges in the financial services marketplace, for financial institutions and their clients.
“I look forward to sharing my experience and helping the team execute and realize their strategic vision," said Westra.
Meanwhile, Marble announced the grant of 400,000 restricted share units (RSU) to Westra, in line with the company's long-term performance incentive plan. Each RSU represents the right to receive, once vested, one common share in the capital of the company.
Separately, the company said that it has also granted an aggregate of 1.4 million stock options to its directors and a certain consultant. The options expire in five years and vest as follows: one million stock options vest on the date of grant; and 400,000 stock options vest in equal one-quarter amount every three months from the date of grant. The stock options are issued at $0.13 per share.
Marble's MyMarble platform channels the power of machine learning, data science, and AI to leverage its data-driven strategies through technology solutions Connect, Inverite, MyMarble, Fast-Track, Learn, and Boost to empower consumers to reach financial wellbeing.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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