New York, NY , April 09, 2024 (GLOBE NEWSWIRE) -- (GTII: OTC) Global Tech Industries Group, Inc. (“GTII” or “The Company”), www.gtii-us.com, announced today that its board of directors, at a board meeting held on April 7, 2024 , approved and authorized management to create the new executive position of Chief Operating Officer, and to welcome Mr. Luke Rahbari to join the Company in that position as of May 1, 2024 . As previously stated in a press release and on the corporate website, the Company retained Mr. Rahbari’s services last December to assist management with re-focusing its short-term goals, including a retirement/succession plan for its senior management. Mr. Rahbari has made management aware of several deficiencies in its current structure and day-to-day operations, and management has been quick to respond and move forward to address the situation by offering him the new position. Mr. Rahbari will continue the work he began in December, assessing the quality of a number of pending deals for the Company, assisting in its continued mission to remain compliant in all its filings and obligations, as well as facilitating introductions to the Capital markets, trading and listing initiatives.
Mr. Rahbari began his capital markets career in 1993 as a derivatives trader and equity options specialist on the CBOE. In 2002, Mr. Rahbari was part of the management team involved in the sale of the firm to TD Bank. Mr. Rahbari then ran derivatives books in New York , London , and Chicago for the bank. In 2007, Mr. Rahbari became the Chief Investment Officer for Peachtree Asset Management establishing a London based Structured Settlement asset manager for Peachtree Settlement Funding, which was one of the largest originators of Structured Settlements in the world. After the sale of Peachtree, Mr. Rahbari moved to Chicago and, along with his partners, established Equity Armor Investments, an SEC registered RIA specializing in derivative and volatility strategies. Mr. Rahbari has extensive experience in the trading and capital markets and has been active in several private, non-public firms as well. Mr. Rahbari has an MBA from the University of Chicago .
David Reichman , Chairman & CEO of GTII, stated, “After working with Luke these last few months, it became obvious to management, as well as the board of directors, that it would be in the Company’s best interest as it relates to its shareholders’ equity and its future as a public company, to bring him onboard as soon as possible. His record speaks for itself, and we are thrilled that he has agreed to join us.”
