Online investment and lending marketplace YieldStreet has named its first-ever general counsel.
Ivor Wolk, most recently partner with Cohen Tauber Spievack & Wagner in New York, stepped into the role this month.
Wolk has held positions both in-house and with law firms previous to his recent appointment. He told Corporate Counsel he decided to move back in-house because he felt passionate about the New York-based company.
Wolk said he thinks YieldStreet’s alternative investment platform is “changing the way wealth is created.”
The platform connects accredited investors to asset-based investment opportunities that were previously “dominated by institutions with high minimums and long holding periods that shut out everyday investors,” according to the company’s website.
“I am very interested in technology, and I believe that the future of wealth management lies in this area of fintech,” said Wolk, who noted he has spent the past 20-plus years involved in securities laws, security portfolio management and alternative investments.
Wolk has served as general counsel for financial services advisory firm NewOak Capital and held in-house positions with Lehman Brothers Holdings and Barclays Capital.
“I’ve lived and breathed all of these areas in various forms, so this was a perfect fit for me,” he said of joining YieldStreet.
Wolk said 2018 is going to be “a very big year” for YieldStreet as it continues to grow, explaining that his role will be to ensure the company can scale efficiently, while also remaining compliant with relevant laws and regulations.
“We’re also going to be exploring different investment products and vehicles as we grow,” he added.
In the company’s announcement last week naming Wolk as the company’s top lawyer, another executive, Volfi Mizrahi, was named managing director of originations.
“We are thrilled to have such proven leaders that will execute on our ultimate mission of ‘Prosperity for All,’” said Michael Weisz, YieldStreet founder and president, in a press release. “We believe this expertise in technology, marketing and lending will accelerate our path to $1 billion in originations and beyond.”
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