HedgeCo.net -JERSEY CITY, NJ, April 16, 2007- Yorkville Advisors, LLC, a firm engaged in providing structured equity financing solutions to growing companies worldwide, today announced that EdSchinik will take on the role of Chief Operating Officer (COO) in addition to his current responsibilities as the firm’s Chief Financial Officer (CFO). The firm also announced today that AssistantController Oren Franks has been promoted to the position of Controller.
“Ed Schinik is a key member of our team and one of the people who has been responsible for making the firm’s back office world class and institutional grade. We are confident that the firm will gaineven greater benefit from his experience and expertise in his new dual role as COO and CFO.” said Mark Angelo, Managing Member of Yorkville.
Ed Schinik said, “Oren Franks has taken on significantly more responsibility in the firm’s accounting department over the course of the last year and we felt that it was high time to match his titleto his level of responsibility.”
Ed joined Yorkville Advisors as the firm’s Chief Financial Officer in December 2005. Ed was previously Chief Operating Officer of Mellon HBV Alternative Strategies, where he had worked since February1999. Prior to joining Mellon, Ed was the Vice President of Portfolio Reporting and Partnership Accounting for DLJ Investment Manager Services, the prime brokerage unit of Donaldson, Lufkin &Jenrette Securities Corporation. Ed began his career at Goldstein Golub Kessler & Company, where he was responsible for managing audits of investment partnerships and registered investmentadvisors. Ed is a Certified Public Accountant who holds a BA in Accounting from Queens College, City University of New York.
Oren joined Yorkville Advisors in January 2006 from Ernst and Young, LLP where he worked as a senior auditor. He worked in the Financial Service Group specializing in hedge funds and private equityfunds. He has experience with a broad array of financial products and derivative instruments, as well as all aspects of partnership and offshore fund accounting. Oren is licensed as a CertifiedPublic Accountant in the state of New York and a member of the AICPA. Oren holds a BA in Talmudic Law. He also earned an MBA in accounting from City University of New York – Baruch College.
About Yorkville Advisors/Cornell Capital Partners:
Founded in 2001, Yorkville Advisors, LLC is the Investment Manager to Cornell Capital Partners, L.P., a private investment firm that specializes in structured finance. According to Knobias Pipe Trac,Cornell was one of the most active investors in the U.S. in terms of the number of structured equity financings in 2006. Cornell structured over $800 million in committed equity capital in over 100transactions in the U.S. and around the world within the last 12 months. Headquartered in Jersey City, NJ, Yorkville has offices in London, UK; Milan, Italy; San Diego, CA; and Jupiter, FL.
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Sophie Sophaon l Walek & Associates l Office: 212.590.0522 l Cell: 202.270.4870 l ssophaon@walek.com
