Medallion Financial Corp. Announces Leadership Transition: Andrew Murstein Appointed Chief Executive Officer as of January 31, 2026

Core Points - Medallion Financial Corp. has appointed Andrew Murstein as Chief Executive Officer effective January 31, 2026, while Alvin Murstein transitions to Executive Chairman until May 2027 [1][3] - The leadership transition is part of a planned succession process aimed at ensuring continuity and strategic growth for the company [3] - Andrew Murstein will oversee the company's strategic direction, focusing on capital allocation, risk management, and operational efficiency to enhance shareholder value [2] Company Overview - Medallion Financial Corp. is a specialty finance company that originates and services loans across various consumer and commercial industries, including partnerships with fintech companies [1][5] - The company serves key industries such as recreation (towable RVs and marine) and home improvement (replacement roofs, swimming pools, and windows) [5] - Medallion Financial Corp. is headquartered in New York City, with its largest subsidiary, Medallion Bank, located in Salt Lake City, Utah [5] Leadership Insights - Andrew Murstein expressed commitment to guiding Medallion through its next growth phase, building on the foundation established under Alvin Murstein's leadership [4] - Alvin Murstein highlighted Andrew's successful pivot away from traditional taxi medallion lending, leading to record earnings and asset growth, with the legacy business now constituting well under 1% of total assets [4]