Magna Announces Key Hires and Promotions

AUSTIN, TX  JANUARY 5, 2018 – Magna Life Settlements, a multi-billion dollar originator of life settlements, announces the promotion of industry veteran Clay Gibson to Senior Vice President, Origination and the hiring of Scott Harris as Chief Marketing Officer. Along with the key hires and promotions, the company is expanding its space and moving to downtown Austin.

Clay and Scott will report to Dave Serra, President of Magna Life Settlements (“Magna”), a wholly owned subsidiary of Vida Capital Inc.

Dave Serra, Senior Managing Director, said of the key hires, “We are excited to announce these new hires and promotions which will improve our focus and execution in both the secondary and direct markets to best serve the rigorous expectations of our policy owners.”

Clay will manage all secondary policy acquisitions from direct and indirect sources for Magna.

Scott Harris comes to Magna as Chief Marketing Officer. With 20+ years of experience, Scott was Co-Founder/CEO of Social Factor. Scott previously served in marketing leadership with Premiere Global Services, Dell, Austin Ventures, and Merck. At Vida, Scott’s primary focus will be on developing materials and programs to increase awareness and educate policy owners and influencers of the potential benefits of accessing the life settlement market. He has a BS in Engineering and an MBA from The University of Texas at Austin.

Magna believes there is a tremendous opportunity to increase awareness, especially in light of the recent tax reform law which raised the amount to be excluded from the federal estate tax, of policy owners who previously used insurance as an estate planning tool.

Jeff Serra, Vida Founder and CEO added, “Policy owners are rapidly recognizing life settlements as a compelling alternative to surrendering unwanted life insurance policies. For almost a decade, Magna has led the market in offering a fair market value to policy owners in every state while also delivering compelling returns to investors. With our new team members and changing responsibilities for  our most experienced employees we hope to continue to serve the needs of our growing list of constituents.”