LAS VEGAS and LOS ANGELES, Jan. 18, 2005 (PRIMEZONE) -- Michael C. Ward, a nationally known banking executive, is the new Chief Operating Officer of CEO America, Inc. (Pink Sheets:CEOA), the Company's Founder and Chairman, David Vaters, announced today.
Ward, most recently an independent financial consultant for Treasury Bank, N.A., a $40 billion commercial bank and wholly-owned subsidiary of Countrywide Financial Corporation, was previously President, Chairman and Chief Executive Officer of a $130 million Charter Pacific Bank of Agoura Hills, CA. Ward's experience includes having directed a card processing and servicing subsidiary for Charter Pacific that processed approximately $360 million per year in merchant draft clearings, while generating net revenues of approximately $2.8 million per annum.
CEO America, Inc. is the exclusive master licensee for the United States of the Creditz System. The Creditz System is a revolutionary business model that is partnering within all segments of the payment industry. Creditz is capable of transparently circulating throughout the world's financial markets, in both developed and emerging economies, as part of the evolving global payment system.
"I am pleased to announce that Michael Ward has joined the executive management team of CEO America, Inc., bringing his extensive background in banking, corporate finance and merchant bankcard processing to the development of our unique business model," David Vaters said. "We are also excited to work with Michael as we partner within the financial services industry in providing our revolutionary products and services to the industry and the consumer."
"In all my years of working within the financial services industry, the Creditz digital currency model offers the most innovative and exciting system for monetary transfer and exchange that I have experienced," Ward stated. "I believe this company truly represents a 21st century payment solution that enhances the future global payment structure."
Prior to joining Charter Pacific Bank Ward was Senior Executive Vice President and Chief Financial Officer at the $250 million Bank of Beverly Hills, where he was responsible for finance, operations, and branch and personnel administration. At Guaranty National Bank, Long Angeles, as Senior Executive Vice President and Chief Financial Officer, Ward oversaw more that $27 million in assets. Previously, Ward was Senior Vice President and Cashier at First Trust Bank, in Ontario, CA, a $450 million bank where he supervised all areas of the bank's operations.
Ward holds a BS in Business Administration from California Baptist College, Riverside, CA and is a 1979 and 1990 Honor Graduate from The School for Bank Administration at the University of Wisconsin, Madison. He is a former member of the boards of directors of the Pacific Coast Bankers Bank, San Francisco, CA; the American Heart Association, Westlake Village, CA; and Wellness Community, Westlake Village, CA.
About CEO America, Inc. (www.creditz.com)
CEO America, Inc., Las Vegas, NV, and Los Angeles, CA, (Pink Sheets:CEOA) is the exclusive master licensee for the United States of the Creditz System. The Creditz System is a new and revolutionary business model that is partnering with the payment industry. Creditz' digitalized money is capable of transparently circulating throughout the world markets, in both developed and emerging economies, as part of the evolving global payment system. The Creditz system provides enhanced payment, business intelligence and marketing solutions to retailers, e-tailers, manufacturers, loyalty and gift card programs, and all the participants in the payment industry, including point-of-sale and payment terminal manufacturers, merchant services, independent sales organizations (ISOs), transaction processors, credit, debit and stored value card issuers.
Except for historical information contained herein, the matters set forth in this press release, such as statements relating to the Company's ability to drive technological developments and the acceptance and timing of product introductions, are forward-looking statements that are subject to risks and uncertainties, including timely development and acceptance of new products, the impact of competitive products and pricing, the timely development and release of products by suppliers, and other risks detailed in the Company's Registration Statement filed with the SEC.