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CHICAGO, April 29, 2013 (GLOBE NEWSWIRE) -- Monroe Capital Corporation (Nasdaq:MRCC) ("Monroe") today announced that in order to strengthen and diversify the Company's board of directors in anticipation of future growth it has expanded its board from five to seven members and elected two new directors.
Joining the Monroe board, effective immediately, are Thomas J. Allison, retired Executive Vice President and Senior Managing Director of Mesirow Financial Consulting, LLC and Jorde M. Nathan, retired Managing Director of Barclays Bank. Furthermore, due to the admission of additional lenders into the Company's credit facility, Jeffrey M. Steele is no longer considered a non-interested director. The board has appointed Mr. Allison to the Company's audit committee as its chairperson and has appointed Mr. Nathan to the Company's nominating and corporate governance committee.
Commenting on the elections, Monroe's Chairman and Chief Executive Officer Theodore L. Koenig said, "We are delighted to welcome two highly experienced executives to the Monroe board. Tom and Jorde bring a great deal of financial leadership and corporate finance experience to our board and their input will be invaluable as we grow the Company over time. We thank Jeff Steele for his work as our former audit committee chairperson and look forward to his continued participation on our board."
Mr. Allison served as Executive Vice President and Senior Managing Director of Mesirow Financial Consulting, LLC, a full-service financial and operational advisory consulting firm headquartered in Chicago, from 2006 until 2012. At Mesirow, Mr. Allison managed complex turnaround situations and advised on major reorganizations and insolvencies. He also served as CEO, CFO or CRO for several clients. Prior to Mesirow, Mr. Allison served in various capacities at a number of firms including Huron Consulting Group and Arthur Andersen, LLC.
Mr. Nathan was employed by Barclays Bank, a major global financial services provider, from 2008 until 2012. Prior to Barclays, Mr. Nathan was employed by Lehman Brothers from 1993 until 2008. As Managing Director at Barclays and Lehman, Mr. Nathan focused on distressed, high yield and leverage loan sales and trading.