Groupworks Financial Corp.

Groupworks Financial Corp.

April 29, 2009 09:00 ET

Groupworks Announces Corporate Management Team

TORONTO, ONTARIO--(Marketwire - April 29, 2009) - Groupworks Financial Corp. ("Groupworks" or the "Company") (TSX VENTURE:GWC) announces that Laurie Goldberg, CEO has made the following Corporate Management appointments.

Rocco Liscio, CFO of Groupworks since 2006, is leaving the Company and Brevan Canning has been appointed to Vice President Finance of Groupworks and will have responsibility for the Company's public reporting, accounting and finance functions. Mr. Canning who has been the VP Finance of People Corporation since 2005 will be assuming the responsibilities of Mr. Liscio. This change takes effect immediately.

Sean Cleary has been appointed to the position of Executive Chairman and VP Corporate Development whereby he will focus on strategic acquisitions, capital markets activities and strategic planning.

Bonnie Chwartacki has been appointed to the position of Executive Vice President of Groupworks, a role in which she will have overall responsibility for planning and execution of sales and distribution activities across the entire organization.

A brief descriptive biography for each member of the corporate management team is as follows:

Mr. Brevan Canning, Vice President Finance. Until this recent appointment, he has served as Vice President Finance of People Corporation. Before People Corporation, Mr. Canning held Corporate Development roles at both CanWest Global Communications and, prior to that, at Band-X Ltd., both of which provided him significant international accounting experience. Mr. Canning is a graduate of the University of Cape Town with a Bachelor of Business Science degree and a graduate from Oxford Brookes University with a Bachelor of Science Degree and is Certified General Accountant.

Ms. Bonnie Chwartacki, Executive Vice President. Until this recent appointment, she was Vice President of People Corporation. Prior to that, Ms. Chwartacki was a Partner with Connor, Clark & Lunn, Capital Markets Inc. In addition, she held a senior sales leadership position with AIC Ltd. as Vice President of Sales, Western Canada, and was Regional Sales Manager for both Great West Life and UNUM Canada (now RBC Insurance). Ms. Chwartacki has served on the Executive Board for the Life Underwriters Association for both the Winnipeg and Calgary Chapters and holds a Bachelor of Commerce (Honours) Degree from the University of Manitoba.

Mr. Sean Cleary, Executive Chairman and VP Corporate Development. He has been Chairman of the board of Groupworks since 2007. Mr. Cleary has held a number of senior roles including, Managing Director of Rathlin Capital, Senior Vice-President of Quest Securities, Chief Financial Officer of Caratax, a public flow-through share fund and President of PanGeo Pharma (now Pendopharm). Mr. Cleary also has significant corporate finance experience as an Investment Banker with Deacon Capital (now Dundee Securities) and JP Colin Securities. Mr. Sean Cleary holds an MBA degree from the Richard Ivey School of Business and a Bachelor of Arts (History) from the University of Western Ontario.

Mr. John Gallivan, President and Director. Prior to joining the executive team at Groupworks, Mr. Gallivan served as President of Gallivan & Associates, a wholly-owned subsidiary of Groupworks Financial Corp. During his 25 years in the industry he has practiced in both the estate planning and employee benefit areas and is a Life member of Million Dollar Roundtable. For the past 12 years he has pioneered a number of buying group strategies to provide health and dental benefits for post-secondary students at universities, colleges and technical institutes across Canada.

Mr. Laurie Goldberg, Chief Executive Officer and Director. He was President & CEO of People Corporation since 2005. Prior to that he held the position of Office of the President and Chief Operating Officer of Assante Corporation from 1998 to 2003 and prior thereto was a Managing Partner with Arthur Andersen (now Deloitte in Canada). Mr. Goldberg has served on a number of non-profit, private and public company boards. Mr. Goldberg graduated with a Bachelor of Commerce (Honours) Degree from the University of Manitoba and is a Chartered Accountant.

Groupworks Financial Corp. is a leading consolidator of independent employee benefits and pension and HR consulting practices in Canada and is lead by a highly experienced and capable management team that has a demonstrated track record of success. The Company's objective is to become a national benefits, pension and HR advisory and administration organization. Since September 2006, Groupworks has completed five acquisitions and now has ten offices in six provinces with approximately 150 employees.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

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