Heritage Global Inc. Appoints Tom Ludwig as President of National Loan Exchange

SAN DIEGO--(BUSINESS WIRE)--Heritage Global Inc. (NASDAQ: HGBL) (“Heritage Global,” “HG” or “the Company”), an asset services company specializing in financial and industrial asset transactions, today announced the promotion of Tom Ludwig to President of National Loan Exchange, Inc. (“NLEX”), a subsidiary of Heritage Global Inc. His appointment was approved at the Company’s March board meeting in San Diego.

Mr. Ludwig previously served as Compliance & Privacy Officer, Executive Vice President, and Counsel of NLEX. In his expanded role, he will oversee strategic direction, operations, and continued growth initiatives for NLEX, a leading loan sale advisor focused on charged-off and nonperforming asset portfolios.

Mr. Ludwig brings nearly two decades of experience with NLEX, where he has held leadership roles spanning legal, compliance, operations, and corporate strategy. He has been involved in thousands of portfolio sales representing billions of dollars in face value and has played a key role in developing governance frameworks and operational infrastructure supporting the Company’s marketplace platform.

“Tom has been instrumental in the growth and operational integrity of NLEX,” said Dave Ludwig, President of Financial Assets at Heritage Global. “His deep understanding of the regulatory landscape, combined with his experience across legal, compliance, and operations, position him well to lead NLEX in its next phase of development.”

“I am honored to take on this role and continue working with the talented team at NLEX,” said Tom Ludwig. “We remain focused on delivering transparent, compliant, and efficient marketplace solutions for our clients while expanding our capabilities across asset classes.”

“Tom’s leadership, experience, and long-standing contributions to NLEX make him the right choice to lead the business,” said Ross Dove, Chief Executive Officer of Heritage Global. “We believe his appointment will support continued growth and reinforce NLEX’s position in the financial asset advisory market.”

Mr. Ludwig holds a Bachelor of Science degree from the University of Illinois Urbana-Champaign and a Juris Doctor from Southern Illinois University Carbondale School of Law. He is licensed to practice law in Illinois and Missouri and is certified as a Credit & Collection Compliance Officer by ACA International.

Heritage Global Inc. (NASDAQ: HGBL) values and monetizes industrial & financial assets by providing acquisition, disposition, valuation, and lending services for surplus and distressed assets. This aids in facilitating the circular economy by diverting useful industrial assets from landfills and operating an ethical supply chain by overseeing post-sale account activity of financial assets. Specialties consist of acting as an adviser, in addition to acquiring or brokering turnkey manufacturing facilities, surplus industrial machinery and equipment, industrial inventories, real estate, and charged-off account receivable portfolios through its two business divisions: Industrial Assets and Financial Assets.

National Loan Exchange (NLEX) is a subsidiary of Heritage Global Inc. (NASDAQ: HGBL). NLEX operates under the Financial Assets business unit and is a leading loan sale advisor in the United States and Canada. Over the past 25 years, the company has closed more than 6,000 sales representing over $250 billion in transactions. The leadership and sales teams have a combined history of more than 150 years in the financial services industry. Offerings include national, state, and regional portfolios on behalf of many of the world’s leading financial institutions.

Forward-Looking Statements
This communication includes forward-looking statements based on our current expectations and projections about future events. For these statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. While the Company believes the forward-looking statements contained in this communication are accurate, these forward-looking statements represent the Company’s beliefs only as of the date of this communication, and there are a number of factors that could cause actual events or results to differ materially from those indicated by such forward-looking statements, including variability in magnitude and timing of asset liquidation transactions, the collectability of the charged off receivables that secure our loan portfolio, the impact of changes in the U.S. national and global economies, and interest rate and foreign exchange rate sensitivity, as well as other factors beyond the Company’s control. Unless required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements, which speak only as of the date of this release. For more details on factors that could affect these expectations, please see our filings with the Securities and Exchange Commission.