GBT Technologies Inc. today announced its intention to change its corporate name to Wertheim & Company, subject to customary legal and regulatory approvals. The rebranding reflects the Company’s plan to transition into a global merchant banking platform.
Craig Marshak will be appointed Chief Executive Officer, bringing more than three decades of investment banking and growth capital experience, including his leadership role at Nomura’s $500 million Growth and Technology Fund in London. Additionally, the Board of Directors intends to appoint Harinder Sandhu as a member.
The “Wertheim & Company” trademark, which dates back to the original Wertheim & Company founded in 1927, has been registered by Mr. Marshak and is intended for adoption as part of the transition.
There is no guarantee that any of the potential transactions described herein will be completed unless and until definitive agreements are signed.
Michael Murray, current Interim CEO of GBT Technologies, stated:
“With this transition, GBT seeks to leverage its existing equity holdings, including its investment in VisionWave Holdings Inc. (NASDAQ: VWAV), to broaden its strategic investment capabilities.”
Craig Marshak, incoming CEO, commented:
“We believe that evolving into Wertheim & Company will allow us to develop a broader merchant banking platform and explore global strategic investments. We intend to build upon the Company’s current asset base to pursue opportunities across technology, financial services, and emerging markets.”
Emil Assentato, Strategic Partner, commented:
“I saw an opportunity to invest personal capital in a platform that intends to pursue global investment opportunities under the Wertheim brand. The Company’s existing equity holdings, including VisionWave shares, provide a foundation to support this planned merchant banking strategy”
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