A diversified global holding firm, The Marygold Companies, Inc., has announced the appointment of Timothy M. Rooney as President of Marygold & Co., a wholly owned subsidiary created to develop and offer a unique mobile banking app built around a unified platform for spending, receiving, saving and investing.

“Today’s announcement represents an important step in further strengthening our senior leadership team and in the growth and development of Marygold, as our mobile banking app transitions from development stage to beta testing and we near the finish line to prepare for the launch”

Rooney is part of the founding leadership group at Marygold & Co., joining the Company to create and lead Marygold & Co. Advisory Services, LLC, a Registered Investment Advisor. Starting his career in the banking sector, he has a 20+ year track record creating and launching successful financial services organizations and products, including mutual funds and exchange-traded funds and retirement plan businesses. Rooney held a ten-year career with Nationwide Investment Management Group, where he served as Vice President, Product Development. He also was Vice President, Strategy for Sun America Retirement Markets, and he headed Strategic Initiatives for Pacific Life Insurance Company.

Rooney earned an MBA degree in Finance from the Leonard N. Stern School of Business at New York University and a BBA degree in Finance from Baruch College. A strong believer in lifelong learning, he is a graduate of the Investment Strategies and Portfolio Management Programme at The Wharton School, University of Pennsylvania, and completed the FinTech Programme at Harvard University.

“Today’s announcement represents an important step in further strengthening our senior leadership team and in the growth and development of Marygold, as our mobile banking app transitions from development stage to beta testing and we near the finish line to prepare for the launch,” said CEO of The Marygold Companies, Nicholas Gerber. “Timothy is a visionary leader with experience, drive and motivation for success. He has been intimately involved with development of the app from the beginning, and his behind-the-scenes knowledge puts him in the ideal position to lead the organization and assume the role of President.”

“I am incredibly excited to be leading Marygold & Co., as we prepare to introduce what we believe will be the most innovative mobile banking product on the market,” Rooney said. “Fintech is widely regarded as a high growth sector in an increasingly complex world. Our new app will truly enable clients to simplify and organize their financial lives in a secure manner.”

The app has been under development for the past three years and currently is in the beta testing phase. More than 10,000 potential clients are currently on the wait list to download and start using the app. Among the unique features, the app will:

Allow clients to securely send payments to anyone.

Enable clients to save through interest-bearing FDIC-insured accounts, without banking fees or minimum requirements, including customization of savings goals for specific purposes.

Provide the ability to customize investing, including the use of Money Pools, with diversified portfolios in accordance with user-selected goals and time-based objectives.