B. Riley Financial promoted Dan Shribman to chief investment officer. He will be based out of New York.

“I am pleased to announce Dan’s promotion as our Chief Investment Officer,” said Bryant Riley, chairman and co-CEO of B. Riley Financial. “Our continued growth provides us with a wider view of compelling ideas that benefit not only our clients, but also B. Riley. As the dynamic between active and passive continues to shift towards passive investing, our diversified platform provides us with unique insight and an ability to invest in and alongside our clients and partners, which in turn creates opportunities for us. Dan’s significant experience and track record, along with flexibility in our balance sheet, has allowed us to further capitalize on the proprietary opportunities our growing platform offers.”

B. Riley operates through several wholly-owned subsidiaries which provide complementary, end-to-to business advisory and financial services to public and private companies and investors. As chief investment officer, Shribman will help identify value investments for B. Riley with a focus on maximizing the company’s capital allocation.

“We believe our diverse platform is well-positioned to source unique ideas that present attractive risk adjusted returns. The number of exciting prospects for us to leverage our balance sheet into profitable opportunities seems to grow by the day. We currently own a compelling group of assets and hope to continue to grow each of our subsidiaries through thoughtful capital allocation,” said Shribman. “I look forward to continuing to work with Bryant, Kenny, Nick and the rest of our leadership team in this expanded role for our firm.”

In addition to serving as chief investment officer for B. Riley Financial, Shribman will also continue to serve as president of its B. Riley Principal Investments subsidiary, which acquired United Online and magicJack in July 2016 and November 2018, respectively.

Prior to joining B. Riley in 2018, Shribman served as a portfolio manager for a New York-based special situation asset manager. During his tenure, he led investments in dozens of public and private opportunities across the industrials, transportation, automotive, aerospace, gaming, hospitality and real estate industries — ranging from public equities and bonds to distressed securities, par bank debt, minority owned private equity and majority owned private equity. Shribman additionally has deep investment and operational experience spanning corporate turnarounds, capital markets financings, and communication and capital deployment initiatives.