Michael Marrache has been appointed CEO as Marc Glazer stays on as chairman
BFS Capital's COO Michael Marrache is promoted to CEO.
Fintech lender BFS Capital has appointed Michael Marrache as its new CEO. Marrache, president of the company since September 2016 and who previously served for three years as the company’s COO, will join the company’s board of directors. Former CEO Marc Glazer will stay on as chairman of the board.
“Michael has been invaluable in enhancing operations and driving sales. As CEO, he will lead our strategic direction both domestically and internationally, and spearhead initiatives that will continue to improve our loan portfolio metrics and strengthen our reputation among customers and partners as a premier small business lending organization,” said Mr Glazer.
In a statement, Mr Marache indicated that he and his new management team will focus on loan originations, ISO partnerships and customer experience.
“I began work with BFS Capital nearly four years ago because I thought the company had enormous potential, and I’m even more certain of this today. I’m honored to have been asked by Marc and the Board to lead the company’s next phase of growth,” said Marrache.
“Our business has experienced great momentum over the last year and we’re setting a course for continued growth and leadership. We have a strong, committed management team and together, along with our employees, we’re primed to execute on our priorities, including upgrading the customer experience, investing in our product offerings and leveraging our data science to drive insights for our customers and partners."
In April, BFS Capital reached a milestone of $1.5 billion in financing—a 50% increase over the $1 billion the company generated from inception through July 2015, led by loan portfolio growth in both new and repeat customers.