Medallion Financial Corp. Hires Director of Strategic Partnerships at Medallion Bank
July 15 2019 - 4:01PM
Business Wire
Medallion Financial Corp. (Nasdaq:MFIN) announced today the
hiring of John Taylor as SVP, Strategic Partnerships/Business
Development for Medallion Bank. John will oversee a new division
that will handle the build-out of the Bank’s Strategic Partnership
program and development of partner relationships.
John joins Medallion Bank from First Electronic Bank (FEB),
where he served as President and Chief Executive Officer starting
in 2013. During his tenure at FEB, John focused on diversifying
FEB’s revenues by launching several new strategic partnership
programs. Prior to his time at FEB, John was President and Chief
Executive Officer of CIT Bank from 2009 to 2013, and Chief
Financial and Compliance Officer from 2000 to 2009. He is currently
a Board Member of the Utah Association Financial Services and
National Association of Industrial Bankers.
“We are excited to bring John onboard as we continue to expand
our activities at Medallion Bank by entering into exciting new and
profitable business lines, and continue to diversify away from the
medallion business,” stated Andrew Murstein, President of Medallion
Financial, parent company of Medallion Bank. “As the banking
landscape evolves toward partnerships between banks and technology
companies, we look forward to exploring opportunities in that
evolution that will allow us to advance the bank and create
additional future value for our shareholders.”
Don Poulton, President of Medallion Bank, continued: “John
brings a wealth of experience and knowledge to Medallion Bank that
will be put to immediate use. We expect the transition to be smooth
as he moves from one Utah industrial bank to another. The
combination of John and Trent Hudson, our CFO, who was also
formerly at FEB, allows us to leverage their strategic partnership
experience to the Bank’s advantage. The strategic partnership
business has been a rapidly growing and profitable line of business
for several Utah banks, and we look forward to diversifying our
source of revenue by entering this line of business.”
John will be based in Medallion Bank’s office located at 1100 E
6600 S, Salt Lake City, UT 84121. For more information call
212-328-2176 or visit https://www.medallionbank.com.
About Medallion Financial and Medallion Bank
Medallion Financial Corp. is a finance company that originates
and services loans in various industries, and its wholly-owned
subsidiary, Medallion Bank, also originates and services consumer
loans. Medallion Financial Corp. has lent more than $8.4 billion
since its initial public offering in 1996.
Medallion Bank is a Utah-chartered, FDIC-insured, industrial
bank headquartered in Salt Lake City, Utah. The Bank specializes in
providing consumer loans for the purchase of recreational vehicles,
boats, and trailers; and for home improvements such as replacement
windows and roofs. Since commencing operations in 2003, the Bank
has grown to $1.04 billion in assets, and originated over 20,000
consumer loans totaling over $400 million in the twelve months
ending March 31, 2019.
Please note that this press release contains forward-looking
statements that involve risks and uncertainties relating to
business performance, cash flow, costs, sales, net investment
income, earnings, and growth. Medallion Financial’s actual results
may differ significantly from the results discussed in such
forward-looking statements. Factors that might cause such a
difference include, but are not limited to, those factors discussed
under the heading “Risk Factors,” in Medallion Financial’s 2018
Annual Report on Form 10-K.
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version on businesswire.com: https://www.businesswire.com/news/home/20190715005687/en/
Company: Alex Arzeno
Investor Relations 212-328-2176 InvestorRelations@medallion.com
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