LAS VEGAS, April 20, 2018 /PRNewswire/ --
Fusion Bank proudly announces experienced and accomplished financial expert Derek Scallet as its pick for Chief Financial Officer
Fusion Bank, a leading cash and treasury management solution for licensed cannabis operators and other members of the cannabis community has announced Derek Scallet as its choice for Chief Financial Officer (CFO).
Scallet was a "Big 8" audit/tax CPA and a financial transaction advisor and manager before becoming a finance and operations executive. During his career he has gained experience with complex restructurings, acquisitions and divestitures, improving mature operations, and assessing start-ups. His new role with Fusion Bank will put him at the helm of the company's finances, including financial planning, record keeping and management of financial risk and reporting.
His résumé includes working for companies ranging from $15 million regional enterprises to $2+ billion multinational operations across varied sectors. He has experience in enhancing enterprise value through optimized strategies; creating tailored solutions to match market scope and scale; setting goal directed benchmarks and milestones; enhancing communications; team building and leadership; and development and management of the capital stack.
Most recently, Scallet was CFO for a fast-growing $30+ billion private equity-held mortgage bank with more than 2,000 employees. He also held the same office at a privately held OEM aerospace supplier and a privately held telecom services provider, the latter of which is a $200+ million global operation with markets across 65 countries and more than 15 reporting entities.
Prior to his position as CFO for these companies, Scallet worked as both an external and internal strategic advisor to Fujitsu IT Holdings, absorbing the Amdahl Corporation, a $1+ billion multinational corporation with 2,000 employees (ranked 65 on the Global 100 Index). He fulfilled the role of Vice President of Finance of two companies: Enhanced Information Systems, a start-up telephony services business with segments in virtual private networking, the Internet, and prepaid and subscriber-based services; and Power Cooling Systems, a GEA-subsidiary and a German multi-national, multi-billion dollar civil engineering and manufacturing company.
"Derek Scallet's formidable career track makes him one of the most experienced and qualified individuals for the position of Chief Financial Officer of Fusion Bank and we are privileged to have this seasoned expert on our team," said Fusion Bank President Philip LaChapelle.
About Fusion Bank
Fusion Bank is an innovative cash and treasury management solution that is in compliance with required government and central bank regulations. This members-only financial institution is licensed under the Bahamas-based Friendly Society and provides safe, legal, and ethical financial, cash, and treasury management services to licensed cannabis operators, ancillary service providers, and qualified cannabis friendly members around the globe, including cultivators, grower industry supporters, patients, healthcare providers, lobbyists, and more.
SOURCE Fusion Bank