GWG Holdings, Inc. announced that Jeffrey S. Stein, age 53, was appointed by the Company's board of directors as President of the Company. As previously reported on the Company's Form 8-K dated June 20, 2022, Mr. Stein also serves as the Company's Chief Restructuring Officer pursuant to a Consulting Agreement further described therein. Mr. Stein is Founder and Managing Partner of Stein & Holly Advisors Inc. Previously, Mr. Stein was a Co-Founder and Principal of Durham Asset Management LLC.

From January 2003 through December 2009, Mr. Stein served as Co-Director of Research at Durham responsible for the identification, evaluation and management of investments for the various Durham portfolios. From July 1997 to December 2002, Mr. Stein served as Co-Director of Research at The Delaware Bay Company, Inc. From September 1991 to August 1995, Mr. Stein was an Associate and Assistant Vice President at Shearson Lehman Brothers in the Capital Preservation & Restructuring Group. Mr. Stein currently serves as a director on the board of Ambac Financial Group, Inc., where he serves as Chairman, and as a board observer on the board of TORM plc.

Mr. Stein previously served as a director on the boards of Intelsat Connect Finance S.A., NMC Health plc, Westmoreland Coal Company and Dynegy Inc. Mr. Stein received a B.A. in Economics from Brandeis University and an M.B.A. with Honors in Finance and Accounting from New York University.