Sept 23 (Reuters) - B. Riley Financial ( RILY ) said on

Monday that its president Kenny Young resigned from his post, as

well as from certain other roles in the investment bank's units,

on Sept. 20.

Young will stay on as a consultant to the bank for one

year, the company said in a filing.

In August, the bank's stock came under pressure after it

flagged a loss between $435 million and $475 million for the

quarter ended June 30, in contrast to a profit recorded in the

same period the previous year, according to a preliminary report

by the bank.

The potential losses, during the quarter, include a markdown

of $330 million to $370 million related to its investment in

Vitamin Shoppe-owner Franchise Group (FRG).

B. Riley had participated in the management-led buyout of

FRG in 2023, a deal that has subsequently come under fire from

regulators and the company's shareholders.

The stock took a further beating after B. Riley said it

would not be able to file its report for the quarter ended June

30 with the U.S Securities and Exchange Commission by the due

date.

The investment bank's stock has lost nearly 73% of its value

since the start of 2024.

The bank is also reviewing a potential take-private bid from

its co-founder and co-CEO Bryant Riley.

B. Riley was approached by Stifel Financial ( SF ) to sell

its wealth management business for more than $100 million,

Reuters reported last week, citing sources.