GBT Technologies Intends to Rebrand as Wertheim & Company; Craig Marshak Appointed CEO; Emil Assentato Joins as Strategic Investor

WEST HOLLYWOOD, Calif., Aug. 11, 2025 (GLOBE NEWSWIRE) -- GBT Technologies Inc. (OTC:GTCH) ("GBT" or the "Company") today announced its intention to change its corporate name to Wertheim & Company, subject to customary legal and regulatory approvals. The rebranding reflects the Company's plan to transition into a global merchant banking platform.

Craig Marshak will be appointed Chief Executive Officer, bringing more than three decades of investment banking and growth capital experience, including his leadership role at Nomura's $500 million Growth and Technology Fund in London. Additionally, the Board of Directors intends to appoint Harinder Sandhu as a member.

The "Wertheim & Company" trademark, which dates back to the original Wertheim & Company founded in 1927, has been registered by Mr. Marshak and is intended for adoption as part of the transition.

There is no guarantee that any of the potential transactions described herein will be completed unless and until definitive agreements are signed.

Michael Murray, current Interim CEO of GBT Technologies, stated:

"With this transition, GBT seeks to leverage its existing equity holdings, including its investment in VisionWave Holdings Inc. (NASDAQ:VWAV), to broaden its strategic investment capabilities."

Craig Marshak, incoming CEO, commented:

"We believe that evolving into Wertheim & Company will allow us to develop a broader merchant banking platform and explore global strategic investments. We intend to build upon the Company's current asset base to pursue opportunities across technology, financial services, and emerging markets."

Emil Assentato, Strategic Partner, commented:

"I saw an opportunity to invest personal capital in a platform that intends to pursue global investment opportunities under the Wertheim brand. The Company's existing equity holdings, including VisionWave shares, provide a foundation to support this planned merchant banking strategy"

About Craig Marshak and Wertheim & Company History

Craig Marshak began his investment banking career at Wertheim & Company in 1985, working with executives who later advanced to senior leadership positions across Wall Street and private equity firms. Wertheim & Company was originally founded in 1927 by Maurice Wertheim and Joseph Klingenstein and became known for its investment banking activities, which later merged into Schroders Salomon Smith Barney, a division of Citibank.

Mr. Marshak has experience leading growth capital investments, including backing CyberArk Software Ltd. (NASDAQ:CYBR) in its early stages. CyberArk was recently acquired by Palo Alto Networks for $25 billion. Mr. Marshak also played a role in early investments in companies that evolved into leading online gaming platforms. Past investments described are historical and do not indicate future performance.

About Emil Assentato

Emil Assentato has over forty years of experience in financial markets. He previously served as a Board member of Compagnie Financière Tradition (CFT.SW), a Swiss-based financial services firm with a market capitalization of approximately $2 billion. Mr. Assentato has held leadership positions overseeing North American and Latin American operations for Tradition and other institutions.

Mr. Assentato has made a strategic investment in GBT Technologies to support its potential transition to Wertheim & Company and is developing initiatives to expand trading and asset management capabilities, including crypto treasury management solutions.

About Harinder Sandhu

Harinder Sandhu brings more than twenty-five years of experience in asset management and equity portfolio management. He previously served as a Senior Equities Fund Manager at UBS and Societe Generale, managing multi-billion-dollar equity portfolios. Mr. Sandhu also held a leadership role at GLG Partners, which later merged into Man Group.

Raised in the United Kingdom with strong family roots in India, Mr. Sandhu provides expertise in identifying mid-market growth opportunities in India and other emerging markets.

There is no guarantee that any of the potential transactions described herein will be completed unless and until definitive agreements are signed.

Forward-Looking Statements

Certain statements contained in this press release may constitute "forward-looking statements".  Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements because of various important factors as disclosed in our filings with the Securities and Exchange Commission located at their website ( http://www.sec.gov).  In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, governmental and public policy changes, the Company's ability to raise capital on acceptable terms, if at all, the Company's successful development of its products and the integration into its existing products and the commercial acceptance of the Company's products.  The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change.  However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so.  These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release.

Contact:

Michael Murray, CEO

GBT Technologies, Inc.