GREAT NEWS: Ronald S. Posner is Appointed Co-CEO of GlobalNet Financial.com, Inc.
GlobalNet Strengthens Management Team and Positions Itself for Future Growth
As Leading Provider of International Online Financial Information
SANTA MONICA, Calif., July 19 /PRNewswire/ -- GlobalNet Financial.com, Inc. (OTC Bulletin Board: GLBND), a leading provider of online financial news and information services both domestically and internationally through MicroCap1000.com and UK-iNvest.com, today announced that Ronald S. Posner has been appointed as co-chief executive officer.
"I am delighted to welcome Ron Posner as co-CEO of GlobalNet," said Hollander, who is president and co-chief executive officer for the company. "His expertise brings over 26 years of leadership in the technology industry to GlobalNet. Dubbed the 'net shepherd of the Internet' by the San Francisco Business Journal, Ron is a tremendous asset to GlobalNet's management team and our future as a leading provider of international online financial information services."
Hollander added, "A visionary leader in the high technology industry, Ron has spearheaded some of the most innovative software deals in history, and is now providing guidance to public and private Internet companies to strengthen their growth and market valuations. He has executed transactions which have significantly enhanced shareholder value for leading companies such as Peter Norton Computing, Symantec, SoftKey, The Learning Company, WordStar, ANSA (Paradox), Borland and CyberMedia, among others.
Posner has most recently been the founder and chairman of the board of PS Capital, an international "angel" venture capital firm, based in San Francisco, New York and London, that is focused on investments and advisory services in the Internet, software and technology markets. PS Capital has also facilitated the entry of United States Internet companies into Europe.
Posner serves on the board of directors of software superstore Beyond.com, Asymetrix Learning Systems, Inc., a leading provider of Internet-based learning solutions and Smallworld, a company that markets new-era GIS applications to the energy industry. He also is an investor and advisor to Prizecentral.com; Click2Send.com; Tunes.com, which merged with Jam TV.com; Spinner.com, now part of America Online; STV.com; Snickelways.com; Novatel Wireless; and Rivalnet.com in Germany. He is also an investor in the Kleiner Perkins Zaibatsu Fund; the New Enterprise Associates President's Fund; and the H&Q Access Technology Fund. He also invested in Match.com, which was sold to Cendant and then to Ticketmaster Online-CitySearch, Inc., and in Net Angels, which was subsequently sold to Firefly and then to Microsoft.
"The online financial information and services market is quite dynamic and offers tremendous opportunity for continued growth," said Posner. "I am looking forward to providing strategic assistance to GlobalNet as the company implements its goal to become the worldwide leader in financial news and services to online investors. GlobalNet's leadership in the European markets and their unique strategic partnerships with Telescan, NexTrade, Freeserve Limited, First Marathon Inc., The De Agostini Holding Group, Banca Commerciale Italiana and Investitori Associati, set them apart from the other companies in this sector."
Posner began his career in the early 1970s with sales and marketing positions at Xerox Data Systems, Tratec and The Coca-Cola Company. He later founded National Training Systems, a multimedia computer education provider. In 1983, he joined Ashton-Tate as a board member and executive vice president of worldwide sales and marketing. At Ashton-Tate, Posner was instrumental in expanding revenues from $10 million to over $200 million. He then went on to become the chief executive officer of ANSA, which was sold to Borland; Peter Norton Computing, which was sold to Symantec; and WordStar, which merged with SoftKey/The Learning Company and was sold to Mattel. Posner, 57, received his BS degree in mathematics from Rensselaer Polytechnic Institute and an MBA from Harvard Business School.
About GlobalNet Financial.com, Inc.
GlobalNet has achieved rapid acceptance and growth in its quest to become a leading provider of international online financial news and information services designed to combine unique financial content and educational programs, investment and analytical tools, and on-line trading and other transaction executions. GlobalNet's subsidiary, MicroCap1000.com, focuses on companies with a market capitalization of under $500 million and is a leading source for information on the microcap sector featuring original daily articles and a real-time index. Through GlobalNet's alliance with Freeserve Limited, the United Kingdom's largest Internet service provider (ISP), UK-iNvest.com is the exclusive provider of investment information within Freeserve's Money channel, featuring interviews and commentary with leading investment managers and analysts about stocks, funds and market trends.
On July 12, 1999, GlobalNet announced a joint venture agreement with First Marathon Inc., a leading Canadian investment firm, to jointly develop an online trading business for Canada and a premiere financial website, Canada-iNvest.com, in Canada. In conjunction with the joint venture, First Marathon has made a $2.5 million strategic equity investment in GlobalNet Financial. The investment by First Marathon follows strategic investments by Freeserve Limited, which made a $15.0 million strategic investment in GlobalNet on May 13, 1999 and a $5.0 million strategic investment on May 25, 1999 from an Italian Consortium consisting of The De Agostini Holding Group, Banca Commerciale Italiana and Investitori Associati. GlobalNet's Italia-iNvest.com is under development. GlobalNet is continuing its worldwide expansion of international investor oriented financial sites.
GlobalNet has also attracted a variety of noteworthy strategic technology partners such as Telescan, an industry leader in providing Internet services and innovative solutions for online technology and data retrieval tools. GlobalNet's licensing agreement with NexTrade provides the company with royalty free, worldwide rights to NexTrade's proprietary, modular Electronic Direct Access Trading System (E-DAT) for real-time online trading.
GlobalNet Financial.com, Inc. is headquartered at 2425 Olympic Boulevard, Suite 660E, Santa Monica, California, 90404; telephone: 310.828.8838; fax: 310.828.7218. The company's European headquarters are at Clarendon House, 6th floor, 11-12 Clifford Street, London, W1X 1RB, United Kingdom; telephone: +44.171.514.0500; fax: +44.171.517.0505. For U.S. investor relations, call Michael Jacobs, CFO, at 1.800.371.4921, mjacobs@globalnetfinancial.com. For U.K. media relations, call James Mellville Ross, Square Mile Communications, Ltd. at 44.171.601.1001.
SOURCE GlobalNet Financial.com, Inc.
CO: GlobalNet Financial.com, Inc.
ST: California
IN: MLM FIN
SU: PER
07/19/99 06:01 EDT prnewswire.com |
