Newtek Company Companies Corp.’s Portfolio Enterprise Hires David Simon as Main Working Officer of Newtek Merchant Methods

BOCA RATON, Fla., March 22, 2021 (Globe NEWSWIRE) — Newtek Business Services Corp., (Nasdaq: NEWT), an internally managed business enterprise enhancement firm (“BDC”), these days announced that David Simon has joined Newtek Merchant Alternatives (“NMS”), just one of Newtek’s payment processing portfolio firms, as Main Working Officer. Mr. Simon will also join Newtek Small business Expert services Corp. in the function as advisor to Newtek’s CEO.

Mr. Simon arrives to NMS with over 25 years’ working experience in monetary expert services and banking, with an comprehensive history in digital payments, banking, and credit score, debit and pay as you go cards across customer, modest enterprises and corporate finance sectors. Most lately, Mr. Simon was Senior Vice President, International Head of Tiny Enterprise and Medium Enterprises (SME) at Visa, Inc, wherever he was the worldwide company leader for Visa’s smaller small business credit and debit payment products and providers. Prior to Visa, Mr. Simon was the founder and CEO of a prepaid card program supervisor and disbursements organization, TriStar Payments, that facilitated billions of dollars in payments for corporate customers by means of pay as you go playing cards and digital money transfers. Concurrently, Mr. Simon served as the Head of Pay as you go and Credit Cards, and was Senior Advisor for Payment Alternatives for One West Lender (now CIT Bank). He also expended 13 decades at Citigroup in a wide variety of leadership roles, which include Govt Vice President, Shopper Engagement, Cross Sell, and Channel Management, and was a Member of Citigroup’s Administration Committee. Previously in his occupation, he was Govt Vice President, Business office of the Chairman and Citi Analytics at CitiCards, NA and ran CitiCards’ little business enterprise firm, managed Internet business progress globally, and served as Electronic Commerce Counsel. Mr. Simon commenced his qualified profession as Counsel to the Board of Governors of the Federal Reserve Procedure, exactly where he concentrated on financial institution mergers, acquisitions, and electronic commerce matters.

Mr. Simon retains a Bachelor of Arts Diploma from the University of Michigan, and a Juris Health care provider Diploma magna cum laude from Boston College College of Legislation.

Barry Sloane, President, Chairman and CEO commented, “We are thrilled to announce that David Simon has been effectively recruited and is signing up for Newtek Merchant Solutions as our Main Running Officer as nicely as a immediate advisor to my business in serving to the Company complete its strategic objectives and ambitions. David’s knowledge and execution capacity at some of the world’s premier banking and payments businesses will give Newtek a remarkable raise in developing its payments small business and its menu of solutions to be sent to independent business enterprise house owners below the Newtek model. We imagine David’s expertise of payments and, more importantly, his understanding of the consumer experience will unquestionably superior equip Newtek on its progress trajectory, and we are thrilled about the talent and need he provides to our corporation. David’s employ delivers us a globe-class government in a change-agent position which is required in this swiftly altering marketplace. We are happy to announce this great staffing acquisition.”

About Newtek Enterprise Companies Corp.

Newtek Company Products and services Corp., Your Company Alternatives Enterprise®, is an internally managed BDC, which together with its managed portfolio businesses, delivers a wide variety of business enterprise and money solutions below the Newtek® brand name to the little- and medium-sized small business (“SMB”) sector. Due to the fact 1999, Newtek has furnished state-of-the-artwork, price-efficient solutions and companies and productive small business techniques to SMB interactions across all 50 states to aid them grow their gross sales, management their costs and lessen their hazard.

Newtek’s and its portfolio companies’ items and expert services consist of: Small business Lending, SBA Lending Solutions, Digital Payment Processing, Technology Remedies (Cloud Computing, Details Backup, Storage and Retrieval, IT Consulting), eCommerce, Accounts Receivable Funding & Stock Financing, Insurance policy Remedies, Internet Services, and Payroll and Benefits Solutions.

Newtek® and Your Organization Answers Organization®, are registered emblems of Newtek Enterprise Products and services Corp.

Note Concerning Forward On the lookout Statements

This push launch is made up of certain forward-searching statements. Words these as “believes,” “intends,” “expects,” “projects,” “anticipates,” “forecasts,” “goal” and “future” or equivalent expressions are supposed to detect ahead-hunting statements. All forward-wanting statements contain a range of hazards and uncertainties that could cause precise success to vary materially from the programs, intentions and expectations mirrored in or advised by the forward-seeking statements. This kind of challenges and uncertainties consist of, amid other individuals, intensified levels of competition, functioning complications and their influence on revenues and income margins, anticipated foreseeable future organization tactics and fiscal effectiveness, anticipated foreseeable future amount of prospects, enterprise prospective buyers, legislative developments and comparable matters. Hazard aspects, cautionary statements and other situations, which could bring about Newtek’s true success to differ from management’s existing anticipations, are contained in Newtek’s filings with the Securities and Exchange Fee and obtainable by means of Newtek cautions you that ahead-hunting statements are not guarantees of potential general performance and that real success or developments may well vary materially from people projected or implied in these statements.

Source: Newtek Business Products and services Corp.

Investor Relations & Public Relations
Contact: Jayne Cavuoto
Phone: (212) 273-8179 / [email protected]