For more, go to the May 16, 2012 Asset Finance International article below.

In this position, Mr. Hieber will oversee residual settings, asset management studies, and remarketing efforts. He will report to David Kovacs, Senior Vice President.

He brings over 18 years of industry experience through his time at De Lage Landen Financial Services, where he oversaw the Asset Management and Remarketing processes for all global business units. Most recently, he served as Global Process Manager where he standardized process flows for remarketing activities across North America and Europe.

“I am looking forward to bringing my international business experience and Asset Management knowledge to the CoActiv management team,” Mr. Hieber stated. “I am also excited to be reunited with several colleagues whom I’ve worked with before, early on in my leasing career. “

David Kovacs stated, “We are very pleased to have Matt join the CoActiv team. His global leasing experience will provide a strong foundation for success at this company and will support CoActiv in many ways.”

About CoActiv Capital Partners, Inc.

CoActiv Capital Partners, headquartered inHorsham,PA, is one of the fastest growing commercial equipment leasing finance companies in theUnited States. CoActiv specializes in designing and implementing private-label sales-aid finance programs to meet the needs of equipment manufacturers in specific industries and has particular expertise in customizing programs for the multi-tiered distribution channels within those industries.

CoActiv Capital Partners is part of Marubeni Group and Marubeni America Corporation (MAC).  Marubeni is ranked 189 in the Fortune Global 500 and is located in 69 countries with over 5000 employees and 114 offices worldwide.

Marubeni Corporation is headquartered in Tokyo, Japan.  Marubeni America Corporation is located at 375 Lexington Avenue, New York, NY10017.  CoActiv Capital Partners’ headquarters is located at 655 Business Center Drivein Horsham, Pennsylvania. Its Canadian division, CoActiv Capital Partners Canada, is located at 307-3310 South Service Rd, Burlington, ON L7N 3M6. For more information about Marubeni visit marubeni.com.  For more information about CoActiv Capital Partners, visit www.coactivcapital.com.

###

Contact Information:
Rachel McNamara
267-960-4089
rmcnamara@leaserv.com

For more, go to the CFLA letter to the Ontario Ministry of Consumer Services below. 

May 15, 2012

GRANT ROBERTSON AND GREG KEENAN

Struggling U.S. lender Ally Financial Inc. (ALLY.PR.B-N23.000.110.48%) is auctioning off its Canadian banking division as part of the sale of more than $30-billion (U.S.) worth of international assets as it seeks to relieve mounting financial pressure.

Among the buyers now circling the assets is General Motors Co., (GM-N21.57-0.06-0.28%) which is said to want the business so that it can have a so-called captive finance arm to provide car loans to customers inCanada and elsewhere. In this country, GM competes with rivals such as Ford Motor Co. that already have their own financial units.

“We’re interested in it, but we’re not going to bleed to buy it,” GM chief executive officer Dan Akerson said Monday inNew York. “We’re the natural buyer.”

If GM were to pick up the Ally assets, it would bring the auto maker full circle inCanada. Ally was formerly owned by GM and was known as General Motors Acceptance Corp., but was sold off in 2006 to private equity giant Cerberus Capital Management LP as theDetroitcompany struggled to remain solvent.

Ally struggled to stabilize itself under Cerberus and was forced to seek a bailout from theU.S.government under the Troubled Asset Relief Program (TARP). Ally is still looking to pay off $17.2-billion of bailout funds it owesWashington. The U.S. Treasury department holds a 74-per-cent stake in the bank as a result of the bailout.

The lack of a financing arm is a disadvantage for GM’s Canadian division in the auto market, said industry analyst Dennis DesRosiers, president of DesRosiers Automotive Consultants Inc. ofRichmond Hill, Ont., so any move by its parent company to buy Ally’s Canadian operations would give theOshawa, Ont.-based auto maker a significant boost.

Captive finance arms help auto makers sell cars by giving them more control over the financing terms they can offer customers purchasing a vehicle. Before the financial crisis, the financial groups were also a significant source of profits for the major North American car makers.

While GM signalled Monday that it is likely not interested in acquiring Ally’sU.S.auto lending business, since it has since teamed up with Wells Fargo & Co. in some parts of theU.S., the car maker is looking closely at Ally’s assets inCanadaand beyond. That could see the auto maker wade into a fire sale of assets that will likely spread beyondCanadaand intoMexico, Europe andSouth America.

“Ally will explore strategic alternatives for all of its international operations, which includes auto finance, insurance, and banking and deposit operations inCanada,Mexico, Europe, theU.K., andSouth America,” the bank said in regulatory filings on Monday.

“The international businesses represent strong franchises in each of the respective countries.”

Ally became known inCanadawith a series of provocative television advertisements depicting children who are duped out of offers for toys or prizes, to illustrate what it said were unfair terms offered by rival financial institutions in the fine print of deals.

Though it built up a banking arm inCanada, its $9-billion worth of Canadian assets are mostly auto loans. The assets could draw the attention of several suitors inCanada, since banking assets in the country rarely go up for grabs.

GM itself went into Chapter 11 bankruptcy protection in 2009, but its Canadian arm stayed out of creditor protection under the Companies’ Creditors Arrangement Act.

http://www.theglobeandmail.com/globe-investor/gm-circles-as-ally-aims-to-unload-international-assets/article2432548/

For more, see the document below. 

For more, see the document below.

Why Exhibit?

How often can you meet one-on-one with key decision makers and influencers in Canada’s asset-backed financing, equipment and vehicle leasing industry?

The CFLA National Conference is the industry’s premier networking and learning event.

Showcase exhibitors are an important value-add to the national conference.  It is the one-time each year that members have an opportunity to learn about products and services that can enhance their businesses.

 The 230 members of the Canadian Finance and Leasing Association (CFLA) represent the $108 billion asset-based financing, equipment and vehicle leasing industry.  CFLA members are the largest providers of debt financing in Canada after the banks and credit unions.

National Conference 2012 is expected to attract 300-325 delegates from large multinationals to national and smaller regional companies.

Members can register online here

Non-members, please download and complete the form

Please contact Charlene Forde at charlene@cfla-acfl.ca for floor plan and any questions.

Monday, April 30, 2012

Maxium Financial Opens A/R Financing, ABL Group

Paul McLean, and Daryl MacLellan announced Maxium Financial Services has added an Accounts Receivable Financing and Asset-Based Lending Group to their organization. Martin Rees has been appointed director of the new group and will be responsible for its business development activities reporting to Daryl.

Maxium Financial Services Inc. is one ofCanada’s largest, privately-held financing companies with a portfolio of over $700 million with more than 30,000 customers.

Founded in 1993, Maxium offers financing by identifying and refining customized financial solutions that respond directly to the specific needs of each customer.

Through its new asset-based lending and accounts receivable financing group, Maxium will provide sector specific lending expertise to a variety of industries through flexible accounts receivable financing facilities and lines of credit from $25,000 to $50 million.

http://www.abfjournal.com/story.asp?id=36932