Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 19, 2021, the Board of Directors of Newtek Business Services Corp.
("Newtek" or the "Company") appointed Nicholas J. Leger as the Company's Chief
Accounting Officer, to be effective as of February 5, 2021. The Company's
current Chief Accounting Officer, Christopher Towers, has resigned from the
Company effective February 5, 2021.
Mr. Leger, age 40, has, since November 2015, served as Vice President of Finance
and Controller of Newtek Small Business Finance, LLC ("NSBF"), the Company's
consolidated subsidiary that operates as a nationally licensed SBA lender under
the federal Section 7(a) loan program, with principal responsibility for
financial reporting and the development and implementation of NSBF's accounting
policies and practices. Mr. Leger previously worked at First Data Corp. as a
Manager and Senior Accountant, in the Financial Planning and Reporting
department, from 2005 to 2015, and previously worked in public accounting as a
Senior Associate for PricewaterhouseCoopers (PWC) from 2004 to 2005 and with RSM
from 2001 to 2004, primarily in the audit of public and private entities. Mr.
Leger graduated from Bentley University in 2002 with a bachelor's degree in
Accounting. In addition, the Company has promoted Elise Chamberlain, CPA, CFA,
the Company's Vice President of Financial Reporting, to Executive Vice
President, Financial Reporting and Finance. Prior to joining the Company in June
2019, Ms. Chamberlain was a Director of Ladder Capital Finance, LLC (2014 -
2019) and a Senior Associate with PWC (2008 - 2014).
Mr. Leger: (i) was not appointed as the Company's Chief Accounting Officer
pursuant to any arrangement or understanding with any other person; (ii) does
not have a family relationship with any of the Company's directors or other
executive officers; (iii) has not engaged, since the beginning of the Company's
last fiscal year, nor proposes to engage, in any transaction in which the
Company was or is a participant; and (iv) has not entered into, nor expects to
enter into, any material plan, contract, arrangement, grant or award in
connection with his appointment as the Company's Chief Accounting Officer.
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