Lenox Wealth Management Appoints President and Chief Operating Officer

Business Wire, Inc.

CINCINNATI--(BUSINESS WIRE)-- On October 21, 2011, Lenox Wealth Management (Pink Sheets:LNXW) announced the appointment of Jay W. Hummel to President. Mr. Hummel was previously the company’s Chief Financial Officer. John Lame, the firm’s founder, will remain as Chairman and Chief Executive Officer. Mr. Hummel will assume the day to day responsibilities for the management of the company.

Mr. Lame described the move as the right one for clients and shareholders: “As our board looked at the best way for us to manage the volatile economic times for our clients, it became apparent that more of my day to day role needed to focus on investment, new client development, and implementing the company’s long range strategy. Jay is the right person to bring increased focus to the day to day management of the company. This adjustment to our roles will allow the company to have a greater impact in our clients’ lives, accelerate top line revenue growth, and increase earnings and the long term value of the company to our shareholders.”

Mr. Hummel came to Lenox after successful assignments with Deloitte & Touche and Ward Financial Group. Jay was honored in the Cincinnati Business Courier’s 2006 “40 under 40” for his community and business leadership.

About Lenox Wealth Management

Lenox Wealth Management (headquartered in Cincinnati, Ohio) provides independent and objective financial planning, wealth management, and family office services to high net worth individuals and their families. A fee-only firm, Lenox provides financial advice on over $1.3B in client retirement assets with approximately $600MM in client assets under management.