BOSTON, Nov. 26, 2008 (GLOBE NEWSWIRE) -- NewStar Financial, Inc. (Nasdaq:NEWS) announced today that its Board of Directors has appointed Brian Fallon to the board effective immediately and that Mark Gormley resigned from the board effective November 21, 2008.
Brian Fallon is a Partner at O'Conner Capital Partners directing development activities and overseeing fund investments in joint ventures. Mr. Fallon will also serve on the Audit and Compensation committees of the board.
"I would like to welcome Brian and I am pleased to have him as a member of our Board of Directors. Brian has an impressive background in real estate and finance and his knowledge and experience will be a great asset to the company," said Tim Conway, Chairman and CEO of NewStar Financial.
Mark Gormley joined NewStar's Board of Directors in November of 2004 and had served on the board's Audit and Risk Policy committees.
"On behalf of NewStar Financial and the Board of Directors, I would like to thank Mark for his service to the company and the valuable guidance he provided to me and the board," added Tim Conway.
About NewStar Financial, Inc.:
NewStar Financial (Nasdaq:NEWS) is a specialized commercial finance company focused on meeting the complex financing needs of companies and private investors in the middle markets. The Company specializes in providing senior secured debt financing for the acquisition or recapitalization of mid-sized companies and commercial real estate. NewStar originates loans directly through a team of experienced, senior bankers organized around key industry and market segments. The Company targets 'hold' positions of up to $20 million and selectively underwrites or arranges larger transactions for syndication to other lenders. NewStar is headquartered in Boston MA and has regional offices in Darien CT, Chicago IL, San Diego CA, and Charleston SC. For more detailed transaction and contact information, please visit our website at www.newstarfin.com.
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