Seasoned Risk Expert and Bank Chief, Jason Painley, Joins Innovest Global Inc Board of Directors

CLEVELAND, Jan. 31, 2018 (GLOBE NEWSWIRE) -- Innovest Global Inc. (OTC PINK:IVST) welcomes Bank CFO and former financial institution regulator Jason Painley, to its Board of Directors.

Innovest’s goal to grow significantly by acquiring operating companies in a select few industries, and get new customers in cost effective ways, has been made clear in the last few months. Their plan to do so with “a focus on reduced risk” became clearer today with the announcement of Jason Painley as a member of the Board of Directors.

“Every company at our stage, when it’s getting momentum, says it plans to grow rapidly,” said Innovest CEO, Dan Martin. “The real question is, ‘at what level of risk are they willing to do it - is it responsible?’ That risk profile is what truly defines the level of likelihood that the aggressive growth strategy is valid, and sustainable.”

Painley’s experience is a perfect fit for the Innovest board. He’s not only a bank officer, CPA, and risk expert, but also an expert in the best-practices, structures, and reporting nuances of various holding companies.

From 2001 to 2011, Painley was an Examiner and Accounting Policy Specialist for the Federal Reserve Bank of Cleveland, with responsibilities at the national Federal Reserve System level. While there, he was charged with monitoring, analyzing, interpreting, and proactively addressing a wide variety of factors related to ensuring that financial institutions were operating in a safe manner, and in compliance with banking laws and regulations. He also led onsite examinations of institutions ranging from small, to over $250 billion assets, and worked constructively with financial institution executives and boards of directors.

Since then, until last month he was Senior Vice President and Chief Risk Officer of Park National Corporation (NYSE:PRK), which has over $7 billion in assets and employs nearly 2,000 associates.  His job spanned all functional areas of the bank, and was to constantly evolve a risk-aware culture in order to avoid, proactively minimize, and immediately address all forms of potential and manifested risks, financial and otherwise. Now, he has taken on greater functional responsibility becoming the Chief Financial Officer of Ohio based Mechanics Bank.

“Risk needs to be understood by everyone in the organization, and everyone needs to understand what their roles are as far as identifying risk and reporting that risk to the right people,” said Mr. Painley. “I’m extremely excited to see an entrepreneurial and aggressive holding company like Innovest, place such a high level of importance on managing risk. I don’t hear that frequently. This is one of many foundational principles I see that give me a lot of faith in their model, and I’m excited to join the board and be there for the team.”

Innovest’s diversified holding company model, and their focus on efficient customer acquisition and reduced risk, are the core tenets of what the company hopes will create significant value for their shareholders.

Follow us on Twitter @innovestglobal for important company updates! For more information on Innovest contact, or call Innovest investor Relations Matt Rego at 216.815.1122. 

Safe Harbor Statement: This news release contains "forward-looking statements", which are statements that are not purely historical and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission. 

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