Badfinger were a British rock band that, in their most successful lineup, consisted of Pete Ham, Mike Gibbins, Tom Evans, and Joey Molland. The band evolved from an earlier group called The Iveys that was formed in 1961 by Ham, Ron Griffiths and David "Dai" Jenkins in Swansea, Wales. The Iveys were the first group signed by the Beatles' Apple label in 1968. Over the next five years the band recorded five albums for Apple and toured extensively, before they became embroiled in the chaos of Apple Records' dissolution. In 1969, Griffiths left and was replaced by Molland, and the band renamed themselves Badfinger. In 1970, the band engaged American businessman Stan Polley to manage their commercial affairs.