On November 1, 2023, MSP Recovery, Inc. d/b/a LifeWallet?s Board of Directors appointed Francisco Rivas-Vásquez, C.P.A., as the Company?s Chief Financial Officer and principal financial officer. Mr. Ricardo Rivera will no longer serve as the Company?s interim CFO, although Mr. Rivera will continue to serve as the Company?s Chief Operating Officer. Mr. Rivas-Vásquez, age 45, joins LifeWallet from BDO LLP, where he served as Transaction Advisory Services Managing Director since 2022. Mr. Rivas-Vásquez served as Deal Advisory Director for KPMG LLP from 2010 to 2022, and Senior Associate for KPMG LLP from 2005 to 2010. From 2002 to 2005, Mr. Rivas-Vásquez served as Audit Senior/Staff Accountant for Ernst & Young LLP. Mr. Rivas-Vásquez received a Master of Science in Accountancy from the University of Notre Dame and a bachelor?s degree in business administration from the University of Miami.
In connection with Mr. Rivas-Vásquez appointment as CFO and principal financial officer, on August 31, 2023, the Company entered into an offer letter with Mr. Rivas-Vásquez. Under the terms of the Offer Letter, Mr. Rivas-Vásquez will receive a signing bonus of $25,000, an annual base salary of $400,000, and he will be eligible to receive an annual bonus consisting of up to 20% of his annual base salary.