CST Announces Leadership Transition

CFO Marty Flanigan appointed as interim leader

TORONTO, July 31, 2015 /CNW/ -- CST Trust Company (CST), which is part of the AST Group, announced today that Chief Executive Officer of the AST Group Mark Healy has decided to leave the company to pursue other opportunities.  Chief Financial Officer Marty Flanigan is serving as interim CEO during the search for a permanent CEO.

"During Mark's tenure as CEO, CST and the broader AST Group have undergone substantial growth and change," said Paul McCullagh, Chairman of the Board of Directors.  "We thank him for his service and his many contributions. Under his leadership, the current executive team and the entire workforce have driven outstanding performance.  Marty Flanigan is widely respected within the industry and has been deeply involved with all aspects of the company's operations."

For the past three years, Marty has served as CFO and has been responsible for supporting CST's operations. He has 30 years of experience in the financial services industry. As CFO, he has been responsible for all administrative functions of the company including accounting and finance, human resources, legal, risk management and regulatory compliance. He has also played an integral role in the design and implementation of the strategic plans that have contributed to CST and the AST Group's rapid growth.

As interim CEO of the AST Group, Marty will be supported by CST's Chief Executive Officer Laurel Savoy and the other members of the existing leadership team.

"It is an exciting time to assume this role," Marty said. "The team is deep and experienced and has delivered great results in recent years: earnings growth of 150 percent and client growth of 95 percent.  We have a full pipeline of opportunities and strategic initiatives and will continue to invest in the business, as evidenced by a number of recent acquisitions, including D.F. King.  We have had very strong performance in the last 12 months, with record revenue and earnings growth, and the momentum in the business remains strong."

About CST

Headquartered in Canada, with offices in Toronto, Montreal, Calgary and Vancouver, CST Trust Company (CST), part of the AST Group, provides issuers global solutions through local access points. CST and the AST Group provide comprehensive stock transfer and employee plan services to more than 8,000 public issues and over five million shareholders. Together, CST and the AST Group serve clients located throughout North America that range in size from initial public offerings to Fortune 100 companies. The organization provides fully integrated services to financial market participants around the globe.

CONTACT: Sean Smith, 212-601-8441, [email protected]

SOURCE CST