|
|
April 18, 2000 ELA
Conference Huge Success A Silicon Valley Funding Source attended the Equipment Leasing Association Conference last week in Chicago, Illinois; over 756 in attendance. Sign-up to meet with him is completed "on line" a week before the conference. He was booked up with 34 interviews. Mostly lessors and larger brokerage firms. He said he collected 70 business cards as even though he was booked up, he took time off from lunch, dinner, and his reaction was attendees were their strictly for business, with specific needs in mind. He was impressed with the caliber of people who attended. He was overwhelmed with lessors who wanted to send his company business . I did not run this buy him, but don't think this former UAEL president would mind me giving his reaction. from another former president of UAEL: Hal Horowitz Kit, Just a note to let you know that although I have not been associated with the Equipment Leasing industry for the last couple of years, I do enjoy knowing what's going on and keeping abreast of the news, and the many people whom I've come to know over the years. Please do keep me on the list. As you know, I have been recruiting for over two years now. Although my primary target candidates are financial and accounting professionals in most private sector industries, I am affiliated with a firm of over 60 recruiters who work to a variety of industries and disciplines. I mention this in conjunction with the continued consolidation within the leasing industry to which your letter referred. I have worked with clients form here in California to Virginia, and have assisted them with a variety of types of positions. If I can be of assistance to anyone within the industry, please let me know. Hope things are well in your 29th year. Hal
Hal T. Horowitz "It is my mission to collaborate with my clients in order to further their success by identifying professionals of uncommon ability to whom my clients might not otherwise have access and who will make a valuable contribution to my clients' goals." Kit, Check out their (Leaseexchange's) privacy statement, I realize most people don't look at these but they really should no matter what sight you are giving any information about yourself. From a legal standpoint this is rather vague. But could give, i.e., "sell" certain info to third parties not related to the specific transaction." Rob Rob
Yohe Kit- Thank you for your permission ( to quote you.) I also want to commend you for your emails and open forum you provide to brokers. As someone new to the leasing business I have found the messages that brokers have left to be extremely informative. Brokers are very fortunate to have this type of forum and dialog available to express opinions. Keep up the great work. Thanks
John C Pollock Add 200,000 Small-and Medium-Sized Business Customers to Citigroup's Leasing Customer Base NEW YORK--(BUSINESS WIRE)--April 18, 2000--Citigroup (NYSE:C) today announced an agreement to purchase all outstanding shares of Copelco Capital, Inc., a leader in small ticket vendor leasing, from Itochu International, Inc., a Japanese global trading house. Copelco's business will be integrated into Citigroup's equipment finance division, Citicorp Global Equipment Finance, and will increase its leased assets by 50 percent. The transaction, terms of which were not disclosed, is expected to close in May 2000. It is subject to various regulatory approvals. With the acquisition of Copelco, Citicorp Global Equipment Finance is expected to become the largest U.S. bank-owned leasing company. Citigroup will also acquire a leading share of the small ticket health care and office equipment leasing sectors, and a strong position in several other key markets, including personal computers, telecommunications and machine tool leasing. "Copelco is a superb addition to Citigroup's leasing business," said Victor J. Menezes, Chairman and CEO of Citibank, N.A. and Co-CEO of Citigroup's Global Corporate and Investment Bank. "Copelco's focus on small-to-medium-sized businesses complements Citigroup's typically larger clients, and both companies have been strong proponents of utilizing the Internet and e-commerce to best serve their customers." "This transaction is a terrific strategic opportunity for us," said Sal Maglietta, Head of Citicorp Global Equipment Finance. "By adding to our resources we are creating a powerful force in the fastest growing segment of the $500 billion U.S. leasing market -- the small ticket vendor business. We expect to expand Copelco's revenues substantially by marketing its innovative financing and e-commerce solutions to our customer base. At the same time, Copelco has strong and successful relationships with over 200,000 small and mid-sized business customers, which we plan to enhance through a strong cross-sell of other Citigroup products." "Becoming a part of Citicorp Global Equipment Finance makes a lot of sense for us strategically, financially and operationally," said Robert J. Lemenze, Jr., President and Chief Executive Officer of Copelco. "Our businesses are strongly complementary, and together we should reap significant synergistic benefits and solidify our market leadership. More importantly, this transaction fits our objective of providing customers with the best solutions and world-class service. By being part of Citigroup we will now have access to capital, financing expertise and product resources that are well beyond those of any of our competitors." Copelco Capital, Inc., with 200,000 small- and medium-sized customers and 900 employees in the U.S., Canada and U.K., is a leading provider of financing solutions to equipment vendors and dealers in the small-ticket office technology, health care, and commercial and industrial equipment markets. Additional information is available at www.copelco.com. With a current global portfolio of over $11.8 billion, Citicorp Global Equipment Finance, a business unit of Citigroup, is the second largest U.S. bank-owned leasing company and a leader in global asset and equipment finance. Citicorp Global Equipment Finance provides a broad range of funding solutions to customers in transportation, material handling, technology, power and energy, construction, energy management, quick-service restaurants, automotive services, telecommunications and other industries throughout the world. For more information about Citicorp Global Equipment Finance, visit the company's website at http://www.citicorp.com/gef. Citigroup (NYSE:C), the most global financial services company, provides some 100 million consumers, corporations, governments and institutions in 100 countries with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage and asset management. The 1998 merger of Citicorp and Travelers Group brought together such brand names as Citibank, Travelers, Salomon Smith Barney, Commercial Credit (now named CitiFinancial), and Primerica under Citigroup's trademark red umbrella. Additional information may be found at www.citigroup.com. CONTACT: or Investor
Relations: eFinance Announces Online Buying Community for Small Business Financial Services Patent-Pending Technology Facilitates Business-to-Business Transactions SUNNYVALE, Calif., April 18 /PRNewswire/ -- Today, eFinance (www.efinance.com) announced an online buying community for small business financial services. By creating the first internet small business financial services buying community, eFinance delivers small business customers Fortune 500 buying power. eFinance also announced its small business financing systems for online exchanges, vendors, portals and other e-commerce companies. Using its patent-pending system, eFinance will deliver its initial product, online equipment leasing. The online system automates credit evaluation, underwriting and funding. Small business customers not only realize a substantial decrease in application, approval and funding time, but also benefit from low rates typically unavailable to small businesses. eFinance also provides a suite of business financing solutions to its online ecommerce partners. eFinance can integrate its business finance system within the infrastructure of partner sites, facilitating online, real-time execution of transactions between buyers and sellers. With a direct online financing system, partners benefit from an increase in completed transactions, extended customer reach, improved customer satisfaction and loyalty, and enhanced revenue. "eFinance is transforming online small business financial services by combining an innovative business model with unique technology," said Reid Rutherford, founder and CEO. "We are among the first online financial service providers with a mission to empower the small business community." Once logged onto www.efinance.com or eFinance partner sites, small business customers can access powerful information and tools that will help them make informed decisions. The eFinance "Lease Center" provides information on the leasing program, and user-friendly applications; "My eFinance" enables customers to check account activity and make payments; and "Finance Basics" contains valuable tips, tools, calculators and expert guidance. Currently the small business financial services market is fragmented and small businesses typically pay high rates for limited and confusing product offerings. With small business Internet usage and ecommerce exploding, the market is ripe for eFinance's financial service offerings. About eFinance eFinance was founded by Reid Rutherford in early 1999 to transform the delivery of small business financial services. Mr. Rutherford has more than 20 years experience in founding and leading finance and technology companies. He most recently served as Co-founder, Chairman and CEO of Concord Growth Corporation. Mr. Rutherford partnered with the San Francisco-based Digital Ventures to organize and develop eFinance. Headquartered in Silicon Valley, eFinance's seasoned management team combines small business, Internet and finance experience from such companies as Bay View Commercial Finance Group, Silicon Graphics, Credit Suisse First Boston, Merrill Lynch, Hewlett Packard, American Express, e*Trade, First Sierra, The Associates, 3Com, and Nortel. The principals are: Reid Rutherford, founder, CEO, director; Geoff Butner, VP COO; Marshall Murphy, VP Finance; Chris Beekhuis, VP Engineering. eFinance's Board members include: Dean Gardner, founder and CEO of Digital Ventures and Founder of Internet Finance Corp.; Joe Guilie, Chairman of TechTransNet, LLC; Wendy Paskin-Jordan, Esq., founder of Paskin and Kahr Capital Management LLC, and former Managing Director at Montgomery Asset Management; Brian Kocen, President of Kocen Financial Group; and Tom Seip, Director of OffRoad Capital and former EVP of Charles Schwab & Co. and CEO of Charles Schwab Investment Management, Inc. About DigitalVentures DigitalVentures, the Global eBuilder(TM), builds international business-to-business Internet companies from the ground up. The company's in-house, hands-on management team works directly with entrepreneurs, bringing new companies to market faster and with a greater opportunity for public market success. DigitalVentures builds marketplace exchange companies and online service companies that transform the business world and help build new Internet companies. With a global approach, DigitalVentures exports companies to international markets and imports companies to the U.S. market. Headquartered in San Francisco, DigitalVentures is building six companies including eFinance and Entrepreneurs Funds' eFounders. SOURCE eFinance CO: eFinance ST: California IN: FIN MLM SU: PDT 04/18/2000 08:03 www.leasingnews.org
|