NEW YORK, April 19, 2011 /PRNewswire/ -- Capital Business Credit LLC (CBC) (www.capitalbusinesscredit.com), a global integrated financial products and services company, announced the appointment of Robert Grbic as chief operating officer and Michael Fortino as chief financial officer. Grbic will continue to serve as CBC's chief credit officer.
This announcement comes on the heels of the addition of Marc Adelson as the Company's president and chief executive officer and the appointment of Andrew Tananbaum to executive chairman. The new management team will work together to expand CBC's offerings, with an initial focus on growing its three core businesses – factoring, asset-based lending and trade finance.
"In their new roles, Bob and Mike will better position CBC to execute against its business strategy to provide commercial finance products and services to middle market companies," said Marc Adelson.
Robert Grbic has more than 30 years of commercial lending experience, and has been with CBC since 2005. During his tenure as CBC's chief credit officer, he was involved in creating a hands-on, best-practices credit culture, as well as helping the Company expand its client portfolio.
Prior to joining CBC, Grbic was managing director at Morris Anderson & Associates LTD, a turnaround consulting firm. He also co-founded MetSource Capital, LLC, a restructuring and corporate finance firm specializing in working with small- and medium-sized companies. In addition, he served as an executive vice resident at GMAC Commercial Credit, LLC and BNY Financial Corp. He began his career at Bankers Trust.
Commenting on the promotion of Robert Grbic, Andrew Tananbaum said, "Bob has been a trusted business partner and asset to our team for many years. In his new role, Bob will oversee all of CBC's operations, positioning the Company for growth as we begin to launch new products and services."
Grbic has Bachelor's and Master's degrees in Business Administration from Pace University.
Michael Fortino has served as general manager of CBC since 2006. In his new role as the Company's chief financial officer, he will be responsible for overseeing the Company's finance and IT departments.
"Mike will continue to institute the necessary financial oversight and structure to ensure efficiency and profitability," commented Marc Adelson. "His deep knowledge of our business and industry as well as his extensive leadership experience makes him a natural fit for this role."
Prior to joining CBC, Fortino was chief financial officer at Levenger Co., a multi-channel retailer of high-end writing instruments and organizational products. He holds Bachelor's and Master's degrees in Business Administration from Temple University.
About Capital Business Credit
Established in 1988, Capital Business Credit LLC (www.capitalbusinesscredit.com) is a global integrated financial products and services company specializing in providing creative supply chain financing solutions. The Company's service offerings include: full-service factoring; accounts receivable management services; inventory lending; asset-based lending; and international financing. CBC Trade Finance, a division of CBC, provides trade finance solutions for U.S.-based importers working with Asia-based suppliers (exporters). Capital Business Credit is based in New York, with offices in Hong Kong; Shanghai, Los Angeles; Charlotte, NC; and Ft. Lauderdale, Fla.
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SOURCE Capital Business Credit LLC