Newtek Business Services Corp. Promotes Christopher Towers to Chief Accounting Officer
April 15 2019 - 3:13PM
Newtek Business Services Corp. (the “Company”) (NASDAQ: NEWT), an
internally managed business development company (“BDC”), today
announced it has promoted Christopher Towers to Chief Accounting
Officer (“CAO”). Christopher has served as Vice President of
Financial Reporting at the Company since September 2014, with
principal responsibility for financial reporting and the
development and implementation of the Company’s accounting policies
and practices. Chris is a NYS CPA, and previously worked in the
corporate reporting group of Pall Corporation and practiced as a
CPA for six years with PwC and CohnReznick, LLP (formerly J.H.
Cohn, LLP), primarily in the audit of public and private entities.
Chris is a member of the NYS Society of CPAs and the AICPA. Chris
will assume the CAO position on May 3, 2019, the effective date of
the resignation of Jennifer Eddelson, CPA, the Company’s current
CAO and Executive Vice President.
In addition, Newtek is pleased to announce that
it recently hired Brian Moon as Treasurer & Senior Vice
President of Corporate Development. Brian comes to Newtek with 20+
years of experience in Investment Banking, working at institutions
such as Morgan Stanley, Deutsche Bank and Wells Fargo Securities.
Brian has extensive experience in the Financial Institutions and
Business Services industries including BDCs, specialty finance,
insurance, insurance brokerage, merchant processing, transportation
infrastructure, retail and staffing/consulting sectors.
Barry Sloane, Chief Executive Officer, said,
“Newtek continues to embark on several new growth strategies and
the aforementioned promotion and new hire are part of enhancing our
accounting, treasury and capital markets functions. Newtek
continuously looks to add qualified staff to our senior management
team. Jennifer Eddelson, who has been with Newtek for over 14
years, most recently as CAO, has been a great asset to the Company,
and expects to remain with the Company as CAO through our
anticipated Form 10-Q filing date. After such filing, Christopher
Towers will assume the duties of CAO. We wish Ms. Eddelson well and
great success in her new endeavors.”
About Newtek Business Services Corp.
Newtek Business Services Corp., Your Business Solutions
Company®, is an internally managed BDC, which along with its
controlled portfolio companies, provides a wide range of business
and financial solutions under the Newtek® brand to the small- and
medium-sized business (“SMB”) market. Since 1999, Newtek has
provided state-of-the-art, cost-efficient products and services and
efficient business strategies to SMB relationships across all 50
states to help them grow their sales, control their expenses and
reduce their risk.
Newtek’s and its portfolio companies’ products and services
include: Business Lending, SBA Lending Solutions, Electronic
Payment Processing, Technology Solutions (Cloud Computing,
Data Backup, Storage and Retrieval, IT Consulting), eCommerce,
Accounts Receivable Financing & Inventory Financing,
Insurance Solutions, Web Services, and Payroll and Benefits
Solutions.
Newtek® and Your Business Solutions Company®,
are registered trademarks of Newtek Business Services Corp.
Note Regarding Forward Looking
Statements
This press release contains certain
forward-looking statements. Words such as “believes,” “intends,”
“expects,” “projects,” “anticipates,” “forecasts,” “goal” and
“future” or similar expressions are intended to identify
forward-looking statements. All forward-looking statements involve
a number of risks and uncertainties that could cause actual results
to differ materially from the plans, intentions and expectations
reflected in or suggested by the forward-looking statements. Such
risks and uncertainties include, among others, intensified
competition, operating problems and their impact on revenues and
profit margins, anticipated future business strategies and
financial performance, anticipated future number of customers,
business prospects, legislative developments and similar matters.
Risk factors, cautionary statements and other conditions, which
could cause Newtek’s actual results to differ from management’s
current expectations, are contained in Newtek’s filings with the
Securities and Exchange Commission and available through
http://www.sec.gov/. Newtek cautions you that forward-looking
statements are not guarantees of future performance and that actual
results or developments may differ materially from those projected
or implied in these statements.
SOURCE: Newtek Business Services Corp.
Investor Relations & Public
RelationsContact: Jayne Cavuoto Telephone: (212) 273-8179
/ jcavuoto@newtekone.com
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