TSI Hires New COO

Town Sports International Holdings, Inc. (TSI) announced the appointment of Gregory Bartoli as chief operating officer, effective August 19, 2015.

Bartoli brings a number of years of progressive experience in both financial and entrepreneurial leadership roles. From 2007 to 2013, Bartoli worked in the Investment Banking Division at JPMorgan, and served as a managing director of the Interest Rate Trading Group from 2009 to 2013. Prior to that time, Bartoli worked at HSBC Securities as the co-head of North America Interest Rate Trading and at Credit Suisse First Boston. Since 2013, Bartoli has served as founder and president of J.E.M. Partners LLC, a Florida based real estate holding company specializing in outdoor family entertainment and amusement parks. Bartoli has been providing advisory services to TSI as an outside consultant.

As an inducement for Bartoli to accept employment with TSI as COO, he will receive non-qualified options to purchase 250,000 shares of the company’s common stock granted under its 2006 Stock Incentive Plan, non-qualified options to purchase 450,000 shares of the company’s common stock granted outside the Stock Plan and 300,000 shares of restricted common stock of the company granted outside the Stock Plan.

New York-based TSI is one of the leading owners and operators of fitness clubs in the Northeast and mid-Atlantic regions of the United States and, through its subsidiaries, operated 154 fitness clubs as of June 30, 2015, comprising 106 New York Sports Clubs, 27 Boston Sports Clubs, 13 Washington Sports Clubs, five Philadelphia Sports Clubs, three clubs located in Switzerland and three BFX Studio. These clubs collectively serve approximately 525,000 members.