Iroquois Capital preps CEO succession

REIT Investment Group leader to take over from Koban

Local merchant and investment banking firm Iroquois Capital Group has tapped Bill McGugin to be its president and CEO, effective Jan. 1.

McGugin worked at Covenant Capital Group before being named CEO of REIT Investment Group, which lets individual investors invest in private real estate investment trust offerings, in 2007. He also leads Iroquois Captive Services, another Iroquois portfolio company, and will take the place of Mike Koban, who will move into the chairman's seat at year's end to replace retiring co-founder Jack Jacques. Jacques will continue to be a member of Iroquois' executive committee and its board of directors.

“I have worked closely with Bill since 2009 and saw him build REIT Investment Group into one of the two leading national service providers to the private REIT industry, and I am confident that Iroquois will continue to prosper under his direction,” Koban said.

Iroquois has handled financings and strategic transactions for local companies Covenant Surgical Partners and MaxWell and early this year acquired pain management venture Community Care Solutions.

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