NEW YORK, April 6, 2015 /PRNewswire/ -- Newtek Business Services Corp., (NASDAQ: NEWT), an internally managed business development company ("BDC"), today announced that it has attracted and retained the talent of Mr. Michael Campbell. Mr. Campbell will join Newtek as Chief Credit Officer and Chief Risk Officer for Newtek Merchant Solutions. Mr. Campbell has 25 years' of extensive experience in merchant bankcard operations including credit and risk management, bankcard credit, risk management policy, fraud, regulatory, data security and portfolio management.
Most recently, Mr. Campbell was the Vice President and Head of Risk for Charge Payment Merchant Services where he managed all phases of the operation with direct management of all credit, risk, policy, regulatory and operational matters. Prior to that, he was a senior risk consultant at The Strawhacker Group where he was the business leader for all acquiring and issuing risk projects providing guidance to investors, issuers and acquirers with respect to portfolio quality and best practices for credit, risk, policy, regulatory, excessive chargebacks, PCI and Europay, MasterCard and Visa ("EMV") matters. Mr. Campbell also spent 5 years as the Head of Credit U.S., eCommerce and Merchant PCI at RBS Worldpay where he reported to the CEO in areas of credit, Merchant PCI, sponsorship bank relationship and internal security. He spent over 10 years at Chase Paymentech Solutions as Vice President of National and Credit Partner Risk where he established a department to manage credit and risk for CPS's national portfolio and ISO partner programs while playing a key role in the integration of the Chase Merchant Services and Paymentech's credit cultures. He also was Head of Credit for Chase Merchant Services where his primary role was to ensure credit functions provided by FDC were effectively administered on behalf of Chase Merchant Services. Earlier in his career, for over 5 years, he was a Vice President and Risk Manager for Barnett Merchant Services Corporation where he was a member of Barnett's senior management team responsible for all areas of risk.
Barry Sloane, President, Chairman and Chief Executive Officer of Newtek Business Services Corp. commented, "We are thrilled to have acquired the talent and skill set of a 25-year payment processing veteran with the pedigree of Michael Campbell. Mr. Campbell has served in the most senior positions of risk management at Chase Merchant Services, Chase Paymentech Solutions and RBS Worldplay. He brings a tremendous wealth of experience to enhance our credit policy, underwriting, and risk surveillance procedures going forward. The addition of Michael's experience will allow our senior management team to further focus and develop our top-line growth and reduce overall exposure in our rapidly changing environment. We are excited about our recent developments with our business performance in the first quarter of 2015, our first full quarter as a BDC, and look forward to reporting our results."
Mr. Campbell is a member of Visa and MasterCard Advisor Committees, Merchant Acquirer's Committee (MAC), Fraud Advisory Committee (ETA) and the International Association of Financial Crimes Investigator. He is a graduate of the University of South Carolina and a U.S. Army Veteran. Mr. Campbell will be based in the Company's West Allis, Wisconsin office.
About Newtek Business Services Corp.
Newtek Business Services Corp., The Small Business Authority®, is an internally managed BDC, which along with its controlled portfolio companies, provides a wide range of business services and financial products under the Newtek® brand to the small- and medium-sized business ("SMB") market. Since 1999, Newtek has provided state-of-the-art, cost-efficient products and services and efficient business strategies to over 100,000 SMB accounts across all 50 States to help them grow their sales, control their expenses and reduce their risk.
Newtek's products and services include: Business Lending, Electronic Payment Processing, Managed Technology Solutions (Cloud Computing), eCommerce, Accounts Receivable Financing, The Secure Gateway, The Newtek Advantage™, Insurance Services, Web Services, Data Backup, Storage and Retrieval and Payroll.
The Small Business Authority® is a registered trade mark of Newtek Business Services Corp., and neither are a part of or endorsed by the U.S. Small Business Administration.
Note Regarding Forward Looking Statements
Statements in this press release including statements regarding Newtek's beliefs, expectations, intentions or strategies for the future may be "forward-looking statements." All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the plans, intentions and expectations reflected in or suggested by the forward-looking statements. Such risks and uncertainties include, among others, intensified competition, operating problems and their impact on revenues and profit margins, anticipated future business strategies and financial performance, anticipated future number of customers, business prospects, legislative developments and similar matters. Risk factors, cautionary statements and other conditions, which could cause Newtek's actual results to differ from management's current expectations, are contained in Newtek's filings with the Securities and Exchange Commission and available through www.sec.gov
For more information, please visit the following websites:
www.thesba.com
Contacts:
Newtek Business Services Corp.
Barry Sloane
Chairman and CEO
212-356-9500
bsloane@thesba.com
Investor Relations
Contact: Jayne Cavuoto
Telephone: (212) 273-8179 / jcavuoto@thesba.com
Public Relations
Contact: Simrita Singh
Telephone: (212) 356-9566 / ssingh@thesba.com
Logo - http://photos.prnewswire.com/prnh/20140205/NY59564LOGO
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/newtek-acquires-the-talent-of-michael-campbell-as-chief-credit-officer-and-chief-risk-officer-for-newtek-merchant-solutions-300061139.html
SOURCE Newtek Business Services Corp.