SOURCE: 1st Global Financial Corporation

December 07, 2006 08:45 ET

1st GLOBAL FINANCIAL Appoints Industry Veteran as President

LAS VEGAS, NV -- (MARKET WIRE) -- December 7, 2006 -- 1st Global Financial Corporation (PINKSHEETS: FGBF) today announced that payment processing industry veteran T.A. "Gil" Gillis has been elected President of the Company. Mr. Gillis succeeds Arnold F. Sock to the position, effective immediately. Mr. Sock was elected to the position of Vice-Chairman of the Company's Board of Directors as part of the changes.

Trey Burke was elected President of the Company's subsidiary, 1st Federal Financial, Inc., succeeding Mr. Gillis. Mr. Burke is an associate of Mr. Gillis with extensive experience in opening agent offices and recruiting agents. Mr. Gillis will now be responsible for the overall management of the Company's operations, encompassing marketing efforts, strategic initiatives, and Company-wide revenue growth efforts.

"I am excited to announce Gil's appointment as President. His depth of experience in sales and marketing, his knowledge of the industry, and his numerous industry contacts and associations will be a tremendous help in attaining sustained growth," said Arnold F. Sock, Vice-Chairman of the Board of Directors. "Gil has established an outstanding record of successful leadership and he brings a unique combination of personal attributes and professional skills that will play a fundamental part in the Company achieving its strategic objectives. We have chosen someone who can lead our team to meet, or exceed, the Company's long term growth and revenue goals."

"I am honored to assume the office of President of a company with such tremendous potential. I look forward to growing this dynamic enterprise as it moves toward its goal to become a single source of payment processing and specialized financial products and services needed by small and mid-sized merchants. Every day we advance toward our goal of attaining a significant presence in the markets we seek," said Gil Gillis, President.

About Gil Gillis

Mr. Gillis has over 30 years of senior level experience in sales and marketing as an executive and as an entrepreneur. He has extensive sales and marketing experience in merchant bankcard sales and electronic transaction processing on a national scale. Gil founded and operated a merchant bankcard marketing and processing company that grew into one of the largest of its kind in the nation before he sold it in 2002 to a public company.

About Trey Burke

Mr. Burke is an industry veteran whose family has been very successful in the merchant acquiring business for many years. He has broad experience in recruiting and operating agent offices and has been very effective in recruiting sales agents, and in populating new agent offices, for 1st Federal Financial. He possesses a thorough knowledge of merchant bankcard operations having helped run his family's merchant acquiring business.

About 1st Global Financial Corporation

Information on 1st Global Financial can be accessed at http://www.1stglobalfinancial.com. 1st Global Financial Corporation has three operating subsidiaries: 1st Federal Financial, Inc. is the sales and marketing arm of its sister companies' products, while also providing merchant bankcard and payment processing services for merchants (http://www.1stfederalfinancial.com), Debit Cash Card, Inc., whose subsidiary, Debit Cash Card, LLC, is the exclusive worldwide distributor of the stored-value debit card called The Best Cash Card™, (http://www.thebestcashcard.com), and 1st Federal Advanced Funding, Inc. which provides working capital, through an innovative program, to meet the needs of small and mid-sized businesses (http://www.workingcapitalasap.com).

Safe Harbor Statement: under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as FGBF or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, such statements in this release that describe the company's business strategy, outlook, objectives, plans, intentions, or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. These risks and uncertainties include among other things, product price volatility, product demand, market competition, and risk inherent in the operations of a company.

Contact Information

  • For additional information, please contact:
    T.A. (Gil) Gillis
    President
    info@1stgf.com
    Phone: 866-418-1GFC (418-1432)