Toronto-based specialty lender Callidus Basic Corp (TSX: CBL) has appointed Patrick Dalton as acting CEO, able November 5.
Dalton has added than 25 years of acquaintance in clandestine acclaim markets, best afresh in several administration positions at Fifth Street Asset Management.
Before then, he was founder, admiral and CEO of Gordon Brothers Accounts Co and captivated chief controlling roles at Apollo Beforehand Corp and Goldman Sachs.
Dalton is demography the new job to advice position Callidus for beforehand and administer the medical leave of CEO Newton Glassman.
Glassman is additionally managing accomplice of Canadian clandestine disinterestedness firm Catalyst Basic Group, Callidus’ majority owner.
Callidus Appoints Key Administration Positions to Strengthen Aggregation to Abutment Added Growth
Patrick Dalton Appointed Acting CEO and Jim Hall Re-Joins as Chief Carnality President
TORONTO, Oct. 29, 2018 /CNW/ – Callidus Basic Corporation (“Callidus” or the “Company”) (TSX:CBL) today appear cogent additions to its chief administration to strengthen the team, abutment added beforehand of its accommodation portfolio and to abide unlocking amount from its portfolio of operating companies. Able November 5, 2018, Patrick Dalton will accompany as Acting Chief Controlling Officer. Mr. Dalton is an able beforehand administration controlling with over 25 years of acquaintance in clandestine acclaim markets, including chief administration positions at Fifth Street Asset Management, Gordon Brothers Accounts Company, Apollo Beforehand Corporation and Goldman Sachs.
Tibor Donath, Lead Administrator of Callidus, stated, “We are actual admiring that Patrick Dalton is abutting Callidus during Newton Glassman’s absence as CEO, alive carefully with the Lath and Callidus’ able administration aggregation to beforehand our strategy, drive beforehand in our portfolio and alleviate amount from our assets. Patrick’s chief administration acquaintance and different acclaim skillset will anon account Callidus and all its shareholders. Our adeptness to recruit accession of Patrick’s ability is additionally a absolute absorption of Callidus’ accomplishment to aerate amount and its able-bodied befalling set activity forward.”
“I am actual admiring to accompany Callidus. The clandestine acclaim bazaar is acceptable an added important basic of the all-around basic markets, abnormally for average bazaar companies. As one of the better and added able about listed another lenders, Callidus is able-bodied positioned to arrange basic to advice companies that are clumsy to admission acceptable credit, alike admitting they accept acceptable assets and prospects,” commented Mr. Dalton. “I am afflicted with the accomplishment and adherence of the aggregation at Callidus as they accept formed to strengthen their accepted operating companies to aerate value, such as the acceding to advertise the article barge operating assets of C&C Resources. I attending advanced to alive with the abounding able underwriters and acclaim specialists at Callidus.”
Callidus additionally appear that Jim Hall has re-joined the Aggregation as Chief Carnality President, able immediately. Previously, from 2014 to 2017 as Carnality Admiral at Callidus, Mr. Hall was the company’s best acknowledged advocate and portfolio administrator in agreement of absorption and fee profitability.
These chief administration accessories reflect allotment of the advancing application efforts to position the aggregation for beforehand in accession to managing the medical leave of absence of the Company’s Chief Controlling Officer, Newton Glassman. Mr. Glassman underwent austere anaplasty on his aback and aback on October 8, 2018, which complex a alteration by over 10mm of the lumbar spine, the fusing of discs, angle collective repair, cartilage grafts and the admittance of two cages, four rods and abundant screws. The anaplasty was acknowledged and a abounding accretion is anticipated, however, Mr. Glassman will crave accelerated post-operative rehabilitation and concrete assay as a result. The breadth of time that Mr. Glassman will crave for his leave of absence as he focuses on rehabilitation is uncertain.
Given his accomplishments and experience, Mr. Hall is able-bodied ill-fitted to baby-sit underwriting and administration of Callidus’ accommodation portfolio and to accept the responsibilities of James (“Jay”) Rogers, who will abandon in aboriginal 2019 to accompany opportunities afterpiece to his ancestors in the United States.
“We are additionally actual admiring to acceptable Jim Hall aback to Callidus. Jim has a arch almanac at Callidus and brings aback cogent business advising acquaintance in the Canadian and U.S. markets. Once again, he will be a amazing asset to the Company,” connected Mr. Donath. “Lastly, on account of the aggregation at Callidus, I would like to acknowledge Jay for his assignment and adherence and acknowledge the time he will booty to ensure a bland alteration of duties.”
About Patrick J. DaltonMr. Patrick J. Dalton is an able beforehand administration controlling with over 25 years of beforehand and administration experience. Best recently, Mr. Dalton was Co-President of Fifth Street Asset Administration and Admiral and Chief Controlling Officer of Fifth Street Accounts Corporation and Fifth Street Chief Floating Rate Corporation. Prior to its auction to Oaktree Capital, Fifth Street was a nationally accustomed credit-focused asset manager. From 2012-2016, Mr. Dalton was a Founder, Admiral and Chief Controlling Officer of Gordon Brothers Accounts Company. Gordon Brothers Accounts Aggregation (“GBFC”), a portfolio aggregation of BlackRock Basic Corporation from 2012 to March 2016.
Prior to abutting GBFC, Mr. Dalton was a Chief Accomplice of Apollo All-around Administration and President, Chief Operating Officer and Chief Beforehand Officer at Apollo Beforehand Corporation from 2004 to 2012. As a baton of Apollo Beforehand Management, his contributions were active to the firm’s development and growth, with over $8.6 billion of investments beyond 165 portfolio companies back the firm’s birth in 2004 through 2011. In accession to managing Apollo Beforehand Corporation, Mr. Dalton co-founded Apollo’s CLO platform, managed one of Apollo’s ancient Acclaim Befalling Funds and captivated a key role in founding Apollo’s European acclaim platform.
Earlier in his career, Mr. Dalton served as a carnality admiral at Goldman Sachs’ GS Mezzanine Funds and a carnality admiral at Chase Securities, Inc. and The Chase Manhattan Bank, N.A. He holds an MBA from Columbia Business School and a BS in Accounts from Boston College. Mr. Dalton was the founding sponsor for the Clandestine Disinterestedness Mentorship Program at Columbia Business School.
About Jim HallJim Hall is an able and able entrepreneur, business operator, accumulated investor, and administrator with ability in finance, clandestine equity, cyberbanking and media. From 2014 to 2017 Jim was Carnality President, Advocate and Portfolio Administrator at Callidus Basic Corporation area he was Callidus’ best acknowledged Advocate and Portfolio Administrator in agreement of absorption and fee profitability. In addition, Mr. Hall served as Admiral of James Hall Advisors Inc. (advisory company) from 2002 to 2018, Chairman and CEO of Journal Register Aggregation during the banking crisis of 2007-2009, and was Chief Carnality Admiral and Chief Beforehand Officer of Alive Ventures Canadian Fund Inc. from 1990 to 2002. He is anon a affiliate of the lath of IMV Inc. (NASDAQ/TSX-IMV) and accomplished directorships accommodate Indigo Books & Music Inc., Atomic Energy of Canada Limited, Terravest Income Fund and General Donlee Income Fund. A Chartered Professional Accountant, Jim is a alum of the Richard Ivey School of Business at Western University in London, Ontario.
About Callidus Basic CorporationEstablished in 2003, Callidus Basic Corporation is a Canadian aggregation that specializes in avant-garde and artistic costs solutions for companies that are clumsy to access able costs from accepted lending institutions. Unlike accepted lending institutions who appeal a continued account of covenants and accomplish acclaim decisions based on banknote breeze and projections, Callidus acclaim accessories accept few, if any, covenants and are based on the amount of the borrower’s assets, its action amount and borrowing needs. Added advice is accessible on our website, www.calliduscapital.ca.
For added information: Broker Relations, (416) 945-3240, [email protected]; Media Contacts: Dan Gagnier, (646) 569-5897, [email protected]
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