Daily news service
The success of Element Financial over the past five M&A-filled years has been so great that the company is now set to divide its business into Element Fleet Management and Element Commercial Finance. Element CEO Steve Hudson will stick with what he knows best and head the commercial finance branch, which is scheduled to be in operation before year’s end. Under his control will be Element’s commercial and vendor finance business, as well as its aviation and rail asset management segment. The growth of the commercial finance arm (currently valued at $7 billion) was key to the decision to split the company into two separate entities, and Bay Street veteran Hudson will be called upon to provide expertise for the company during this transition period.
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