#United States #New York #Marblegate Capital #NYC Taxi #Michael Hutchby

Marblegate Capital Corporation Welcomes Michael Hutchby as CFO

Marblegate Capital Corporation (MCC), a prominent player in the NYC taxi market, has officially announced the hiring of Michael Hutchby as its Chief Financial Officer (CFO), effective July 3, 2025. Hutchby will succeed Jeffrey Kravetz, the previous CFO, who will assist in a seamless transition before dedicating his future focus on Marblegate Asset Management.

Hutchby arrives at MCC with a rich background encompassing over 20 years in the fields of capital markets, corporate development, and mergers & acquisitions. His most recent role was with Cherry Hill Mortgage Investment Corporation, where he served as CFO and Controller, cementing his reputation in financial leadership. Having been part of Cherry Hill since October 2013, he played key roles in various departments, including Treasurer and Secretary. His versatility also extends to his previous position as Vice President of Capital Markets at Freedom Mortgage, where he specialized in mergers, acquisitions, and capital-raising strategies.

With academic credentials to match his professional background, Hutchby holds a Bachelor's degree in Economics from The Johns Hopkins University and an MBA from New York University's Stern School of Business. This foundation further enhances his capability in navigating the complexities of the financial sector, particularly in dynamic markets like that of New York City.

Andrew Milgram, the CEO of Marblegate Capital Corporation, expressed confidence in Hutchby’s ability to contribute to the company's goals. “Michael brings extensive experience building and leading strategic financial operations in complex and dynamic markets. His proven ability to grow businesses through operational excellence, regulatory compliance, and financial strength will deliver long-term value to our team and shareholders,” Milgram stated. His appointment is expected to bolster MCC's strategic direction and financial operations significantly.

MCC operates at the intersection of taxi operations and finance, establishing itself as a leading vertically integrated, full-service fleet operator and specialty finance lender in the NYC taxi market. The company prides itself on its substantial portfolio, which includes ownership of over 2,000 taxi medallions and a loan portfolio that secures more than 1,700 medallions. This makes MCC arguably the largest publicly traded entity in the NYC taxi sector, with ambitions to reform and stabilize the industry through initiatives like the NYC MRP+ medallion debt relief program—a crucial step towards alleviating the burden on taxi drivers caught in predatory lending scenarios.

The transition from Kravetz to Hutchby can be marked as a vital moment for MCC as it continues to innovate and grow in one of the most challenging economic environments. The financial acumen that Hutchby brings is expected to enhance MCC's operational capabilities and foster deeper trust within its community of stakeholders.

In a realm where the taxi industry's evolution is intertwined with financial stability and integrity, Marblegate's strategies and thoughtful leadership under Hutchby's guidance could redefine standards and reset expectations in the market. As MCC continues to meld financial services with fleet operations, it reinforces its position as a transformative entity within New York City's vibrant transportation sector.

This leadership change not only represents a shift in profiles within the company's upper management but also signals a strategic commitment to nurturing long-term growth and efficiency. Marblegate Capital Corporation remains focused on turning industry challenges into opportunities, underlining its mission to support taxi drivers and ensure a sustainable future for NYC's transportation ecosystem.

MCC’s ongoing commitment to leverage industry expertise and dynamic approaches is exemplified by the appointment of Hutchby, whose wealth of experience will be crucial in driving the operational initiatives of the firm forward. Looking ahead, both shareholders and communities served by Marblegate can anticipate a promising trajectory under this new financial leadership.