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Emergent Capital lays off CFO, general counsel

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Emergent Capital lays off CFO, general counsel

Emergent CapitalInc. has reduced its headcount to 25 employees from 31.

Richard O'Connell Jr., CFO and chief credit officer, and MichaelAltschuler, general counsel and secretary, were laid off as part of the reduction.

Miriam Martinez, senior vice president of finance and operations,was named acting CFO. Christopher O'Reilly, associate general counsel, was appointedgeneral counsel and secretary.

The company reported a first-quarter net loss of $7.5 million,or a loss of 27 cents per share from continuing operations, compared with a netloss of $4.3 million, or 20 cents per share from continuing operations, in the firstquarter of 2015.