GWG Holdings’ Board of Directors added a new member, finance and insurance executive Roy Bailey, who replaces Michelle Caruso-Cabrera, the CNBC anchor who resigned to run for Congress in a high-profile race against Alexandria Ocasio-Cortez.
Roy Bailey, the CEO of Bailey Deason Capital Interests, has held management roles with Giuliani Partners LLC and Hicks Holdings, LLC, and was founding owner of Bailey Insurance Associates, one of the largest single principal-owned agencies in Dallas at the time.
Roy will be an independent board member. Dennis Lockhart, Peter Cangany, David Chavenson and Roger Staubach are the other independent members of the nine-person board.
Michelle is challenging the rising star known as AOC for the 14th Congressional District representing Queens and The Bronx that AOC won two years ago. Dubbing herself M.C.C., she has said she plans to run on a more economically conservative platform than the incumbent.
“I am the daughter and granddaughter of working class Italian and Cuban immigrants,” Caruso-Cabrera said in announcing her campaign. “I am so lucky to have had such a wonderful career and I want everybody to have the opportunity that I’ve had. That’s why I’m running.”
Michelle worked for more than 20 years at CNBC as an anchor and international correspondent before leaving in 2018. She is the author of a 2010 book titled “You Know I’m Right: More Prosperity, Less Government.”
She joined the GWGH board last April. In the primary election to be held on June 23, she joins 11 other challengers, including three other Democrats, for the Congressional seat, a two-year position.