Approves Three-Year Contract Extensions for President Thor Gjerdrum and Chief Operating Officer Brian Aquilino
EL SEGUNDO, Calif., April 14, 2025 (GLOBE NEWSWIRE) -- A-Mark Precious Metals, Inc. (NASDAQ: AMRK) (A-Mark), a leading fully integrated precious metals platform, today announced that its Board of Directors has appointed Cary Dickson as Chief Financial Officer effective July 1, 2025. Mr. Dickson, who previously served as the company’s CFO from November 2015 through September 2019, will re-join A-Mark on May 2, 2025 as its Executive Vice President, and will assume the role of CFO upon the departure of current CFO Kathleen Simpson-Taylor, who has informed the company of her decision to retire as of the end of the current fiscal year.
A-Mark Chief Executive Officer Greg Roberts stated, “I am extremely pleased that Cary will be returning as a member of A-Mark’s leadership team. His familiarity with our business, people and systems will provide continuity, while his wealth of professional experience makes him ideally suited to focus on operational efficiencies and strategic initiatives. Cary will, among his other responsibilities, assume leadership of our cross-functional team that is working to integrate the businesses of our recently acquired companies.
“I want to thank Kathleen for the innumerable contributions she has made since joining A-Mark in January 2016 and becoming its CFO in September 2019. The company experienced transformational growth during her tenure, which is largely attributable to her exceptional leadership and her and her team’s outstanding efforts and contributions.”
Ms. Simpson-Taylor added, “I am very grateful to Greg and the Board of Directors for the opportunity I have had to contribute to the many years of strategic growth of the company. I look forward to partnering with Cary as he transitions back to A-Mark and continues the commitment to quality and excellence within the finance department.”
Mr. Dickson commented, “I am excited to be returning to A-Mark which I left in 2019 to pursue an opportunity closer to my Orange County, California, home. A-Mark’s expansion over the last several years across the bullion, numismatic and collectible landscape, which includes the recent acquisition of Stack’s Bowers Galleries, means that I can work from that company’s Costa Mesa, California, office while focusing on strategic A-Mark priorities, including capital efficiency, integration initiatives, and inventory and risk management.”
Mr. Dickson most recently served as a partner of Hardesty LLC, a provider of a full range of financial services, including fractional and interim CFO services, to private equity firms and middle market companies. From 2019 to 2021, Mr. Dickson was the Chief Financial Officer of Entrepreneurial Corporate Group, a family-owned business with a portfolio of hospitality, distribution and real estate interests. He held a range of positions at Mattel, Inc. prior to joining A-Mark, including serving as a Vice President of Finance.
A-Mark’s Board of Directors has also extended the employment agreements of President Thor Gjerdrum and Chief Operating Officer Brian Aquilino for an additional three years, through June 30, 2028. Mr. Gjerdrum has served as the company’s President since September 2016, and served as A-Mark’s Executive Vice President and Chief Operating Officer from July 2013 to September 2016, and as its Chief Financial Officer and Executive Vice President from 2002 to May 2008 and from May 2010 to June 30, 2013. Mr. Aquilino, who has been with A-Mark since 2001, was appointed as Chief Operating Officer in March 2020.
About A-Mark Precious Metals
Founded in 1965, A-Mark Precious Metals, Inc. is a leading fully integrated precious metals platform that offers an array of gold, silver, platinum, palladium, and copper bullion, numismatic coins, and related products to wholesale and retail customers via a portfolio of channels. The company conducts its operations through three complementary segments: Wholesale Sales & Ancillary Services, Direct-to-Consumer, and Secured Lending. The company’s global customer base spans sovereign and private mints, manufacturers and fabricators, refiners, dealers, financial institutions, industrial users, investors, collectors, e-commerce customers, and other retail customers.
A-Mark’s Wholesale Sales & Ancillary Services segment distributes and purchases precious metal products from sovereign and private mints. As a U.S. Mint-authorized purchaser of gold, silver, and platinum coins since 1986, A-Mark purchases bullion products directly from the U.S. Mint for sale to customers. A-Mark also has longstanding distributorships with other sovereign mints, including Australia, Austria, Canada, China, Mexico, South Africa, and the United Kingdom. The company sells more than 200 different products to e-commerce retailers, coin and bullion dealers, financial institutions, brokerages, and collectors. In addition, A-Mark sells precious metal products to industrial users, including metal refiners, manufacturers, and electronic fabricators.
A-Mark’s consolidated subsidiary, Stack’sBowersGalleries is a rare coin and currency auction house as well as a wholesale and retail dealer of numismatic and bullion products. PinehurstCoinExchange is a precious metals broker that services the wholesale and retail marketplace and is retailer of modern and numismatic coins on eBay.
LPMGroupLimited(LPM), is one of Asia’s largest precious metals dealers. LPM operates a consumer-facing showroom in Hong Kong’s Central Financial District, and offers a wide selection of products to its wholesale customers through its 24/7 online trading platform, including recently released silver coins, gold bullion, certified coins, and the latest collectible numismatic issues.
Through its A-M Global Logistics subsidiary, A-Mark provides its customers with a range of complementary services, including managed storage options for precious metals as well as receiving, handling, inventorying, processing, packaging, and shipping of precious metals and coins on a secure basis. A-Mark’s mint operations, which are conducted through its wholly owned subsidiary Silver Towne Mint, enable the company to offer customers a wide range of proprietary coin and bar offerings and, during periods of market volatility when the availability of silver bullion from sovereign mints is often product constrained, preferred product access.
A-Mark’s Direct-to-Consumer segment operates as an omni-channel retailer of precious metals, providing access to a multitude of products through its wholly owned subsidiaries, JMBullion, Goldline, AMS, and SilverGoldBull. JMB owns and operates numerous websites targeting specific niches within the precious metals retail market, includingJMBullion.com, ProvidentMetals.com, Silver.com, CyberMetals.com, GoldPrice.org, SilverPrice.org, BGASC.com, BullionMax.com, and Gold.com. Goldline markets precious metals directly to the investor community through various channels, including television, radio, and telephonic sales efforts. AMS operates GOVMINT, which markets vintage and modern coins through channels that include a dedicated website, television advertising, and telephonic sales efforts. A-Mark is the majority owner of Silver Gold Bull, a leading online precious metals retailer in Canada, and also holds minority ownership interests in two additional direct-to-consumer brands.
The company operates its Secured Lending segment through its wholly owned subsidiary, CollateralFinanceCorporation(CFC). Founded in 2005, CFC is a California licensed finance lender that originates and acquires loans secured by bullion and numismatic coins. Its customers include coin and precious metal dealers, investors, and collectors.
A-Mark is headquartered in El Segundo, CA and has additional offices and facilities in the neighboring Los Angeles area as well as in Dallas, TX, Las Vegas, NV, Winchester, IN, Vienna, Austria, and Hong Kong. For more information, visit www.amark.com.
A-Mark periodically provides information for investors on its corporate website, www.amark.com, and its investor relations website, ir.amark.com. This includes press releases and other information about financial performance, reports filed or furnished with the SEC, information on corporate governance, and investor presentations.
Important Cautions Regarding Forward-Looking Statements
Statements in this press release that relate to future plans, objectives, expectations, performance, events and the like are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934. Future events, risks and uncertainties, individually or in the aggregate, could cause actual results or circumstances to differ materially from those expressed or implied in these statements. Factors that could cause actual results to differ include the following: the failure to execute the Company’s growth strategy, including the inability to identify suitable or available acquisition or investment opportunities; greater than anticipated costs incurred to execute this strategy; government regulations that might impede growth, particularly in Asia; the inability to successfully integrate recently acquired businesses; changes in the current international political climate, which historically has favorably contributed to demand and volatility in the precious metals markets but also has posed certain risks and uncertainties for the Company, particularly in recent periods; potential adverse effects of the current problems in the national and global supply chains; the impact that the recently announced tariffs and other trade restrictions may have on our business; increased competition for the Company’s higher margin services, which could depress pricing; the failure of the Company’s business model to respond to changes in the market environment as anticipated; changes in consumer demand and preferences for precious metal products generally; potential negative effects that inflationary pressure may have on our business; the inability of the Company to expand capacity at Silver Towne Mint; the failure of our investee companies to maintain, or address the preferences of, their customer bases; general risks of doing business in the commodity markets; and the strategic, business, economic, financial, political and governmental risks and other Risk Factors described in in the Company’s public filings with the Securities and Exchange Commission.
The Company undertakes no obligation to publicly update or revise any forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements.
Company Contact: Steve Reiner, Executive Vice President, Capital Markets & Investor Relations A-Mark Precious Metals, Inc. 1-310-587-1410 sreiner@amark.com
Investor Relations Contact: Matt Glover, Greg Bradbury Gateway Group, Inc. 1-949-574-3860 AMRK@gatewayir.com
