Medallion Financial names Andrew Murstein CEO effective January 2026

Medallion Financial Corp. (NASDAQ: MFIN) announced that its board of directors has appointed Andrew Murstein as chief executive officer, effective January 31, 2026. Andrew Murstein will continue serving as president, chief operating officer and board member.

Alvin Murstein, who has led the company for more than 60 years, will transition to executive chairman. He is expected to serve in that role until May 2027, after which he will retire. The change is part of a planned leadership succession process.

In his expanded role, Andrew Murstein will oversee the company's strategic direction, capital allocation, risk management and operational efficiency. Medallion Financial is a specialty finance company that originates and services loans in consumer and commercial industries, as well as loan products through fintech partners.

"I am honored to take on the additional responsibility of Chief Executive Officer and continue guiding Medallion through its next phase of growth," said Andrew Murstein. He noted the company has built a diversified lending platform integrating traditional and fintech-driven origination channels.

Alvin Murstein said Andrew's experience makes him "the ideal leader to drive the Company forward." He highlighted that Andrew has guided the company away from its taxi medallion lending origins, with that legacy business now representing less than 1% of assets.

The company serves key industries including recreation and home improvement sectors. Medallion Financial is headquartered in New York City, with its largest subsidiary, Medallion Bank, based in Salt Lake City, Utah.

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