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

Key Terms

charged-off financial

Charged-off describes a situation where a lender considers a debt, such as a loan or credit card balance, unlikely to be repaid and writes it off as a loss. This typically happens after the borrower has missed payments for an extended period. For investors, a charged-off account signals increased risk and can impact the lender's financial health, influencing the value of related investments.

nonperforming asset portfolios financial

A nonperforming asset portfolio is a collection of loans, bonds or other credit instruments that are no longer making their scheduled interest or principal payments. For investors, these portfolios signal higher credit risk and potential losses for the lender, but also offer opportunities to buy distressed assets at a discount or gain from recoveries; think of it like a basket of unpaid invoices that can hurt cash flow but might be salvaged or sold for value.

loan sale advisor financial

A loan sale advisor is a specialist who helps a bank or lender sell one or more loans or a portfolio of loans to other buyers, acting like a real-estate broker who markets an asset, finds qualified buyers, and negotiates terms. Investors care because a skilled advisor can secure better prices, speed up deals, and clarify the risks and expected returns, making it easier to evaluate and compare loan investments.

marketplace platform technical

A marketplace platform is an online service that brings together independent buyers and sellers, like a digital shopping mall or farmers’ market where listings, payments and sometimes delivery are coordinated in one place. Investors watch these platforms for user growth, transaction volume and how easily the site draws more participants, because those factors determine how quickly revenue can scale, how much profit margin there may be, and what risks from competition or regulation exist.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260326757483/en/

Investor Relations Contact:
John Nesbett/Jennifer Belodeau
IMS Investor Relations
203/972.9200
InvestorRelations@hginc.com

Source: Heritage Global Inc.