Medallion Financial Corp. Announces Leadership Transition: Andrew Murstein Appointed Chief Executive Officer as of January 31, 2026
Medallion Financial (NASDAQ: MFIN) announced a planned leadership transition: Andrew Murstein will become Chief Executive Officer effective January 31, 2026, while continuing as President, Chief Operating Officer and a director. Alvin Murstein will become Executive Chairman and is expected to serve in that role until his planned retirement in May 2027.
The company describes the change as a succession plan to ensure continuity and sustained strategic growth; Andrew will oversee capital allocation, risk management, and operational efficiency while leveraging technology and fintech channels. The release notes the legacy taxi medallion business is now well under 1% of assets and cites prior record earnings and assets under Andrew's leadership.
Medallion Financial (NASDAQ: MFIN) ha annunciato un piano di successione dirigenziale: Andrew Murstein diventerà Amministratore Delegato a partire dal 31 gennaio 2026, continuando a ricoprire anche il ruolo di Presidente, Chief Operating Officer e membro del consiglio. Alvin Murstein diventerà Presidente Esecutivo ed è previsto che ricopra tale ruolo fino al suo pensionamento previsto a maggio 2027. L'azienda descrive il cambiamento come un piano di successione per garantire continuità e crescita strategica sostenuta; Andrew supervisionerà l'allocazione del capitale, la gestione del rischio e l'efficienza operativa, sfruttando tecnologia e canali fintech. Il comunicato segnala che l'attività di tassì medallions come attività legata al taxi è ora ben inferiore all'1% degli asset e cita profitti record e asset sotto la guida di Andrew.
Medallion Financial (NASDAQ: MFIN) anunció un plan de transición de liderazgo: Andrew Murstein se convertirá en Director Ejecutivo a partir del 31 de enero de 2026, mientras continúa como Presidente, Director de Operaciones y miembro del consejo. Alvin Murstein se convertirá en Presidente Ejecutivo y se espera que desempeñe ese papel hasta su jubilación prevista en mayo de 2027. La compañía describe el cambio como un plan de sucesión para asegurar la continuidad y el crecimiento estratégico sostenido; Andrew supervisará la asignación de capital, la gestión de riesgos y la eficiencia operativa, aprovechando la tecnología y los canales fintech. El comunicado señala que el negocio heredado de medallones de taxi está ahora bien por debajo del 1% de los activos y cita ganancias récord y activos bajo la dirección de Andrew.
Medallion Financial (NASDAQ: MFIN)은 예정된 경영진 이양을 발표했다: Andrew Murstein가 2026년 1월 31일부로 CEO로 취임하며 회장, 최고운영책임자 및 이사로서의 직무를 계속 수행한다. Alvin Murstein은 전 운영회장이 되며 2027년 5월까지 그 직무를 수행할 예정이라고 한다. 회사는 지속적인 전략적 성장과 연속성을 보장하기 위한 승계 계획으로 이를 설명한다; Andrew는 자본 배분, 위험 관리, 운영 효율성을 감독하고 기술과 핀테크 채널을 활용할 것이다. 발표는 Legacy 택시 메달리온 사업이 자산의 1% 미만으로 크게 감소했다고 기재하며, Andrew의 리더십 아래의 기록적 이익과 자산을 인용한다.
Medallion Financial (NASDAQ : MFIN) a annoncé une transition de direction prévue : Andrew Murstein deviendra PDG à compter du 31 janvier 2026, tout en restant président, directeur des opérations et administrateur. Alvin Murstein deviendra président exécutif et devrait assumer ce rôle jusqu'à sa retraite prévue en mai 2027. L'entreprise décrit ce changement comme un plan de succession visant à assurer la continuité et une croissance stratégique soutenue ; Andrew supervisera l'allocation du capital, la gestion des risques et l'efficacité opérationnelle tout en tirant parti de la technologie et des canaux fintech. Le communiqué souligne que l'activité historique de médaillons de taxi est désormais bien inférieure à 1 % des actifs et cite des bénéfices records et des actifs sous la direction d'Andrew.
Medallion Financial (NASDAQ: MFIN) kündigte einen geplanten Führungswechsel an: Andrew Murstein wird mit Wirkung auf den 31. Januar 2026 zum Chief Executive Officer werden und gleichzeitig Präsident, Chief Operating Officer und Aufsichtsratsmitglied bleiben. Alvin Murstein wird zum Executive Chairman und soll diese Rolle voraussichtlich bis zu seinem geplanten Ruhestand im Mai 2027 innehaben. Das Unternehmen beschreibt die Änderung als Nachfolgeregelung zur Gewährleistung von Kontinuität und nachhaltigem strategischem Wachstum; Andrew wird Kapitalallokation, Risikomanagement und operative Effizienz überwachen und gleichzeitig Technologie- und Fintech-Kanäle nutzen. Die Mitteilung verweist darauf, dass das legacy Taxi-Medallion-Geschäft nun unter 1 % der Vermögenswerte liegt und führt die bisherige Rekordrendite und Vermögenswerte unter Andrews Führung an.
أعلنت Medallion Financial (بورصة ناسداك: MFIN) عن خطة انتقال قيادية: سيصبح Andrew Murstein المدير التنفيذي اعتباراً من 31 يناير 2026، مع الاستمرار في منصبي الرئيس، وكبير موظفي العمليات وعضو مجلس الإدارة. سيصبح Alvin Murstein رئيساً تنفيذياً للشركة ومن المتوقع أن يشغل هذا الدور حتى تقاعده المخطط في مايو 2027. تصف الشركة التغيير بأنه خطة خلافة لضمان الاستمرارية والنمو الاستراتيجي المستدام؛ سيشرف أندرو على تخصيص رأس المال وإدارة المخاطر وكفاءة التشغيل مع الاستفادة من التكنولوجيا وقنوات التكنولوجيا المالية. يذكر البيان أن عمل أسرة الميداليون taxi التقليدي أصبح الآن أقل من 1% من الأصول ويقتبس أرباحًا قياسية وأصول تحت قيادة أندرو.
Medallion Financial（纳斯达克股票代码：MFIN）宣布了计划中的领导层交接： Andrew Murstein 将于 2026 年 1 月 31 日 起任命为首席执行官，同时继续担任公司总裁、首席运营官及董事。 Alvin Murstein 将成为执行主席，预计将一直担任该职务，直至计划于 2027 年 5 月 的退休。公司将此次变动描述为确保连续性和持续性战略增长的接班计划； Andrew 将监督资本配置、风险管理和运营效率，并利用科技和金融科技渠道。新闻稿指出，传统的出租车里程牌业务现已 低于资产的 1%，并引用在 Andrew 领导下的历史性盈利和资产。
- Planned succession with clear effective date: Jan 31, 2026
- Founder to remain as Executive Chairman through May 2027 for continuity
- Legacy medallion business reduced to well under 1% of assets
- CEO will oversee capital allocation, risk management, and operational efficiency
- Retirement of long‑time leader in May 2027 reduces founder-era continuity
- Executive holds multiple senior roles (CEO, President, COO) potentially concentrating authority
Alvin Murstein to Serve as Executive Chairman
NEW YORK, Oct. 28, 2025 (GLOBE NEWSWIRE) -- Medallion Financial Corp. (NASDAQ: MFIN, the “Company”), a specialty finance company that originates and services loans in various consumer and commercial industries, as well as loan products and services offered through fintech strategic partners, announced today that its Board of Directors has appointed Andrew Murstein as Chief Executive Officer, effective January 31, 2026. Andrew Murstein will continue to serve as President, Chief Operating Officer and a member of the Board of Directors.
In his expanded role, Andrew Murstein will drive the Company’s overall strategic direction, overseeing capital allocation, risk management, and operational efficiency, aiming to improve overall shareholder value.
Alvin Murstein, who has led the Company and the predecessor companies for the past 60 plus years, will become Executive Chairman. He is expected to serve as Executive Chairman until May 2027, after which he will retire from such position. The transition is part of a planned leadership succession process designed to ensure continuity and sustained strategic growth.
“I am honored to take on the additional responsibility of Chief Executive Officer and continue guiding Medallion through its next phase of growth,” said Andrew Murstein. “Under Alvin’s guidance, we have built a strong foundation based in large part to his extraordinary leadership. Together, we established a highly diversified lending platform based on disciplined underwriting standards, by integrating both traditional and fintech-driven origination channels to deliver consistent yields and shareholder value. As we look ahead, we will continue to leverage technology, data-driven insights, and operational excellence to expand our lending platform, further enhance efficiency, and capitalize on emerging opportunities across the specialty finance sector.”
“Andy’s deep experience and vision for Medallion make him the ideal leader to drive the Company forward,” said Alvin Murstein. “He has done an outstanding job pivoting the Company away from its taxi medallion lending roots and has guided the Company to record earnings and assets. That legacy business is now well under
About Medallion Financial Corp.
Medallion Financial Corp. (NASDAQ: MFIN) and its subsidiaries originate and service a growing portfolio of consumer loans and mezzanine loans in various industries, and loan products and services offered through fintech strategic partners. Key industries served include recreation (towable RVs and marine) and home improvement (replacement roofs, swimming pools, and windows). Medallion Financial Corp. is headquartered in New York City, NY, and its largest subsidiary, Medallion Bank, is headquartered in Salt Lake City, Utah. For more information, please visit www.medallion.com.
Forward-Looking Statements
Please note that this press release contains forward-looking statements that involve risks and uncertainties relating to our expected leadership transition, business performance, cash flow, net interest income and expenses, other expenses, earnings, growth, and our growth strategy. These statements are often, but not always, made using words or phrases such as “will” and “continue” or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. These statements relate to future public announcements of our earnings, expectations regarding our loan portfolio, including collections on our taxi medallion loans, the potential for future asset growth, and market share opportunities. Medallion’s actual results may differ significantly from the results discussed in such forward-looking statements. For example, statements about the effects of the current economy, whether inflation or the risk of recession, the effects of tariffs, operations, financial performance and prospects constitute forward-looking statements and are subject to the risk that the actual impacts may differ, possibly materially, from what is reflected in those forward-looking statements due to factors and future developments that are uncertain, unpredictable and in many cases beyond Medallion’s control. In addition to risks relating to the current economy, for a description of certain risks to which Medallion is or may be subject, please refer to the factors discussed under the heading “Risk Factors” in Medallion’s 2024 Annual Report on Form 10-K.
Company Contact:
Investor Relations
InvestorRelations@medallion.com
212-328-2176
Investor Relations
The Equity Group Inc.
Lena Cati
lcati@theequitygroup.com
(212) 836-9611
Val Ferraro
vferraro@theequitygroup.com
(212) 836-9633
FAQ
When will Andrew Murstein become CEO of Medallion Financial (MFIN)?
What role will Alvin Murstein hold after the Medallion Financial leadership change?
How does the MFIN succession plan affect company strategy and oversight?
Will Andrew Murstein keep other titles after becoming MFIN CEO?
How material is the taxi medallion business to Medallion Financial (MFIN) now?
