Author: Michelle Dryden

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Business Culture Digital - AI & Apps Environment Healthcare Lifestyle News Now! Technology

Devashish Saxena joins Imperial Dade as Chief Digital Officer to support company’s continued growth

JERSEY CITY, N.J. — (BUSINESS WIRE) — Imperial Dade, a leading distributor of food service packaging and janitorial supplies, announced that Devashish Saxena has joined the company as its first Chief Digital Officer. He will be focused on identifying how the organization can use the latest digital technologies to create a world-class omnichannel customer experience powered by data science.


For over 20 years, Devashish Saxena has built digital organizations and guided them in making data-driven decisions to deliver business impact. With a software engineering background, Devashish focuses on human beings and their role in the digital journey.

 

Most recently Devashish led digital transformation as Vice President, Chief Digital Officer at PPG, a Pittsburgh-based coatings manufacturer. Prior to his time at PPG, Devashish served as Vice President, Global Digital Business and E-commerce at Rexel, a France-based omnichannel distributor of electrical supplies. Prior to Rexel, he led the digital journeys at UK-based Premier Farnell (now part of Avnet) and Texas Instruments in Dallas.

 

“Devashish is an excellent addition to our organization, contributing his expertise and passion to further develop and execute our digital strategy,” said Charlie D’Elia Jr., Chief Commercial Officer of Imperial Dade.

 

“Digital transformation has a critical role to play in our disciplined growth plans, and his experience and leadership will be invaluable in the years ahead.”

 

“I am so happy to join the amazing team at Imperial Dade,” said Devashish.

 

“They are passionate about serving our customers and are doing so in a familial and entrepreneurial manner. I really appreciate the warm welcome from everyone I have met thus far and look forward to leading the company on its digital transformation journey.”

 

About Imperial Dade

Founded in 1935, Imperial Dade serves more than 90,000 customers across North America. Since Chairman Robert Tillis and CEO Jason Tillis acquired the company in 2007, the company has grown both organically and through acquisitions to become a leader in the disposable food service and janitorial supplies industry. For additional information, please visit www.imperialdade.com.

Contacts

Laura Craven

305-805-2716

Categories
Business Culture Healthcare Lifestyle Local News News Now! Programs & Events

As COVID-Era SNAP Benefits End, HelloFresh Increases Support to Help Those Facing Food Insecurity

  • 100,000 additional meals will be donated to food banks across the country
  • HelloFresh announces the temporary opening of an additional free Community Fresh Market in Colorado

 

NEW YORK — (BUSINESS WIRE) — HelloFresh, the world’s leading meal kit company and food solutions group, announced today an increase in their “Beyond the Box” program to support food banks as COVID-19 SNAP benefits have expired.

 

As part of its mission to support those facing food insecurity, the company pledges to provide 100,000 additional meals across a number of its brands – HelloFresh, Green Chef, and EveryPlate – this Spring to food banks and non-profit partners around the country – an extension to their existing donation programs.


The Supplemental Nutrition Assistance Program (SNAP) provides assistance to 41 million people suffering from food insecurity by providing them a monthly benefit to use on food purchases. At the start of the COVID-19 pandemic, as millions of people lost their jobs, SNAP benefits were temporarily increased to help low-income families. The supplemental benefits expired this February, as a signal that the pandemic is coming to an end. This month, the average SNAP household has seen at least $95 less in benefits, with some seeing a reduction of $250 or more.

 

“While an end to the pandemic is a welcome note, many families continue to face food insecurity, especially with record inflation contributing to higher food costs,” said Jeff Yorzyk, Senior Director of Sustainability for HelloFresh US. “Many people are turning to their local food banks to help fill the void – unfortunately some of which are not equipped for the influx. Our goal is to help our partners put healthy, nutritious food on the tables of as many Americans as possible in this time of need.”

 

HelloFresh is donating 100,000 extra meals, including meal kits, ready-to-heat dinners and nutritious sides to food banks including Table to Table in New Jersey, Second Helpings Atlanta in Georgia, Tarrant Area Food Bank in Texas and St. Mary’s Food Bank in Arizona. The company is also increasing support by adding a second temporary Community Fresh Market in Colorado. This farmer’s market style distribution, hosted by Denver-based hunger relief organization, We Don’t Waste, will be open bi-weekly from April through July, to whoever needs it and will provide a variety of fresh produce, proteins and dairy items at no cost.

 

“This is a critical time for our community. With the reduction of SNAP benefits on top of rising inflation for food, we’ve seen food insecurity increase and demand for our programs has skyrocketed. We’ve seen a 63% increase in attendance at the Community Fresh Markets from this time last year. And seniors, experiencing an even greater reduction in benefits, have nearly doubled in attendance,” said Arlan Preblud, Founder and Executive Director for We Don’t Waste. “We’re now providing food access to over 10,000 individuals each month through these markets. We Don’t Waste is really grateful to work with partners like HelloFresh. They are helping us provide consistent food access to help strengthen our community.”

 

Beyond the Box helps those in need

HelloFresh aims to change the way people eat, forever, inclusive of those facing food insecurity. Their US-based social impact program called Beyond the Box, focuses on reducing food waste and creating a more equitable food system for those in need.

 

The program consists of their “Meals with Meaning” initiative, launched in 2020, as a response to the pandemic and elevated rates of food insecurity. To date, Meals with Meaning has provided more than 4 million free meal kits to individuals in need, with each kit containing HelloFresh ingredients and step-by-step recipe cards to create home-cooked meals.

 

Through the remainder of the year, HelloFresh will increase their Meals With Meaning donations in Newark, New Jersey. In partnership with the City of Newark and food-rescue organization, Table to Table, this site represents the company’s first and largest Meals with Meaning program.

 

“More than 850,000 people in New Jersey depend on federal food assistance to sustain themselves or their families,” said Amiri Baraka, Jr., Chief of Staff for the City of Newark. “With inflation so high, individuals are struggling to put food on the table right now. We need to ensure that those who need help have access to it. We’re incredibly grateful for companies like HelloFresh who are partnering with us to fill this critical need.”

 

HelloFresh also continues to focus on its sustainability and social impact efforts by contributing nearly 19 million pounds of surplus food in the US in 2022, supporting more than 40 food banks and pantries across the country.

 

To learn more about HelloFresh’s Beyond the Box program, including Meals with Meaning, visit https://www.hellofresh.com.

 

About HelloFresh

HelloFresh is the world’s leading meal-kit company. Founded in Berlin in November 2011, the Company now operates across 18 international markets. In 2022, HelloFresh furthered their mission to “change the way people eat forever” by delivering more than 490 million meals to customers across the U.S. HelloFresh was voted the Most Trusted Meal Kit Delivery Service in America in 2021 and 2022 by Newsweek. HelloFresh has offices in New York, Chicago, and Boulder. For more information, visit www.hellofresh.com.

Contacts

Press

Abigail Dreher 860-922-4598
Associate Director, Corporate Communications prusa@hellofresh.com
HelloFresh US www.hellofresh.com

Categories
Business Lifestyle Regulations & Security

AM Best removes under review with positive implications and upgrades credit ratings of Transverse Insurance Group’s members

OLDWICK, N.J. — (BUSINESS WIRE) — #insurance — AM Best has removed under review with positive implications and upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Ratings to “a” (Excellent) from “a-” (Excellent) of Transverse Specialty Insurance Company (Wilmington, DE), Transverse Insurance Company (Dallas, TX) and TRM Specialty Insurance Company (Indianapolis, IN). These companies are collectively referred to as Transverse Insurance Group (Transverse). The outlook assigned to these Credit Ratings (ratings) is stable.

 

The ratings reflect Transverse’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.

 

The rating upgrades reflect the role Transverse will have going forward following its Jan. 3, 2023 acquisition by Mitsui Sumitomo Insurance Company, Ltd. (MSI). The rating action also considers the level of integration between Transverse and MSI and various agreements in place between the companies.

 

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

 

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

 

Copyright © 2023 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Joni Cerbone
Senior Financial Analyst
+1 908 439 2200, ext. 5726
joni.cerbone@ambest.com

Christopher Sharkey
Associate Director, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Robert Raber
Director
+1 908 439 2200, ext. 5696
robert.raber@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 439 2200, ext. 5098
al.slavin@ambest.com

Categories
Business Lifestyle

Orangewood Partners makes strategic investment in DLA, LLC

New capital will support the acceleration of leading internal audit and accounting advisory firm’s growth

 

NEW YORK — (BUSINESS WIRE) — Orangewood Partners (“Orangewood”), a long-term focused private investment firm, today announced a strategic investment in DLA, LLC (“DLA” or the “Company”), a leading internal audit and accounting advisory firm. Terms of the transaction were not disclosed.

 

In partnering with Orangewood, DLA plans to accelerate growth across its business lines while maintaining its culture as a premier boutique advisory firm with a reputation and mission of providing its clients with exceptional service. DLA’s Founder and Chief Executive Officer, David Landau, will continue to lead the business alongside the existing leadership team, who will maintain a majority ownership in the Company.

 

Founded in 2001, DLA’s experienced professionals serve a broad range of clients, including both public and private companies, as well as individuals, across sectors. DLA’s team of specialists is led by former Big Four veterans averaging over 30 years of experience, all with deep industry knowledge in the areas they serve. Headquartered in Fairfield, New Jersey, DLA has over 125 employees.

 

Eric Engler, Managing Director of Orangewood, said, “We are thrilled to partner with David Landau and the DLA team to provide strategic support and resources to help grow the firm’s offerings to existing and new clients. Over the past two decades, DLA has built a reputation as trusted advisors to leading corporations and developing practice areas that are tailor made for the current environment, which is seeing an increasing focus on regulation, compliance, and internal controls. To that end, we believe DLA is exceptionally well positioned to capitalize on the significant opportunities as clients recognize the value in outsourcing these essential business services.”

 

David Landau, Founder and CEO of DLA, added, “I am very proud of the firm that my team and I have cultivated over the past 22 years, and we are excited to partner with Orangewood, which has a track record of helping businesses achieve their long-term objectives. DLA’s talented and dedicated employees have worked diligently to build a firm where we provide best-in-class internal audit and accounting advisory services to an impressive list of public and private clients throughout the country. By partnering with Orangewood, DLA will have the additional strategic and financial resources so that we can continue to invest in our people, hire top talent, and expand our service offerings. Further, we will also seek to leverage Orangewood’s deep experience and network to enter new markets and execute on our strategy to acquire firms in targeted cities.”

 

Greenberg Traurig LLP served as legal advisor to Orangewood. Cole Schotz LLP served as legal advisor to DLA.

 

ABOUT ORANGEWOOD

Founded in 2015, Orangewood Partners is a New York-based private investment firm with a long-term approach. Orangewood focuses on growth-oriented private transactions in partnership with founder-led businesses, management teams and entrepreneurs. The firm’s senior investment team and deep bench of active operating advisors has decades of experience across a range of sectors, primarily healthcare, consumer, multi-unit and related industries. Orangewood works to build companies into strategic assets in their industries to create long-term value for investors, companies, and communities. For more information, please visit www.orangewoodpartners.com.

 

ABOUT DLA LLC

Founded in 2001, DLA provides internal audit and accounting advisory services to hundreds of clients. DLA’s leadership team averages 30+ years of experience and is led by Big Four veterans with deep industry expertise. DLA specializes in internal audit, accounting advisory, forensic accounting, valuation and litigation support, tax, risk management, IT advisory services and staffing. The company is headquartered in Fairfield, New Jersey.

 

For further information about DLA LLC, please visit www.dlallc.com.

Contacts

Media:
Nathaniel Garnick/Justin Dechiario

Gasthalter & Co.

(212) 257-4170

Categories
Business Digital - AI & Apps Lifestyle Perks Technology

United Bank of Michigan replaces legacy eSignature platform with IMM eSign

Seamless interoperability with Fiserv Premier banking platform delivers superior experience with faster digital transaction processing

 

RAHWAY, N.J. — (BUSINESS WIRE) — #DigitalTransformation — IMM, the only eSignature provider specializing in eSignature and digital transaction solutions exclusively for financial institutions, today announced that United Bank of Michigan successfully migrated from its legacy eSignature platform to IMM eSign for Banks. IMM’s enterprise-wide eSignature platform directly interfaces with the bank’s core processing platform, Fiserv Premier, as well as other existing business applications including its enterprise content management software suite, Fiserv Director, as well as Fiserv’s Business Process Manager (BPM) system for account opening and other customer service tasks.

 

Headquartered in Grand Rapids, Mich., United Bank of Michigan has 13 branch locations across Western Michigan, more than $850 million in assets and is recognized as a leading small business lender. According to bank executives, IMM’s exclusive focus on financial institutions and associated domain expertise, coupled with the out-of-the-box interfaces are the primary reasons it selected IMM eSign. The bank reported immediate results including the ability to complete transactions faster and more accurately, in a paperless environment, as well as deliver an enhanced, more engaging experience to customers in both a remote environment, as well as in-person at the branch.

 

“Our previous eSignature platform was not integrated with our key business applications and our usage was minimal,” said Eric Soya, vice president of branch operations, United Bank of Michigan. “As we accelerated our digital-first strategy, it became evident our previous provider was not able to effectively integrate with our current systems and did not truly understand the nuances of how the bank operates. The overall value of the system was languishing. We conducted a rigorous review process, and IMM met every established requirement and continues to exceed our expectations. From day one, IMM’s eSignature platform has been seamlessly integrated with our banking core platform, Fiserv Premier, as well as Fiserv’s BPM and Director products.”

 

IMM’s eSignature solution provides a seamless, streamlined interface, enabling the bank’s employees to complete transactions faster in a completely digital environment. Automated archiving and filing into the content management system improves the overall accuracy of each transaction, eliminating the possibility of accidental human error.

 

Soya continued, “Prior to implementing IMM eSign, completing most transactions required multiple steps, making it time-consuming for employees. Now, transactions are completed, including the indexing and archival of the documents, with just a few clicks. Additionally, we can deliver all documents to our customers electronically, which is not only more convenient, but also safeguards their information and potentially sensitive personal data.”

 

The bank’s customers can now electronically sign documents remotely at a place and time of their choosing. The bank also leverages tablets in branch to provide a more dynamic experience, enabling customers to view and sign documents electronically on the tablet itself. The bank wanted to ensure that no matter what business system employees were producing documents from, or what system clients were signing documents within, the user experience would be seamless, interoperable and cohesive.

 

Michael Ball, SVP of markets and strategy for IMM, said, “In today’s economic environment, it is so important that banks partner with technology providers that recognize and understand the intricate nuances and regulatory requirements associated with the financial services industry. United Bank is a perfect example of an institution that had an eSignature platform that is widely recognized in every type of organization, across many industries, but was unable to meet the specific operational needs of a financial institution. We understand how critical system integrations are to ensuring daily operations and that is why we designed IMM eSign to meet the specific needs of banks like United Bank of Michigan.”

 

About IMM

For 26 years, IMM has been the premier provider of eSignature and Digital Transaction solutions designed exclusively for financial institutions. Today, more than 1,650 banks and credit unions use IMM’s eSignature and Digital Transaction Management solutions across the Institution to elevate consumer experiences while streamlining back-office processes in a comprehensive, end-to-end digital processing environment.

 

For more information, visit www.immonline.com or call 1.800.836.4750. Follow us on LinkedIn, Facebook and Twitter.

 

About United Bank

Founded in 1887, United Bank has more than $850 million in assets. The bank operates 13 locations throughout West Michigan, plus mortgage, wealth management and insurance divisions. A leading business lender, United Bank offers a comprehensive suite of business and personal banking products that blend cutting-edge technology with personalized service. Member FDIC | Equal Housing Lender www.unitedbank4u.com

Contacts

Adrie Morales / Anna Stanley

adrie@williammills.com / anna@williammills.com
678.781.7227 / 251.517.7857

Categories
Business International & World Lifestyle Regulations & Security

AM Best upgrades Credit Ratings for Trustmark Group, Inc. and its subsidiaries

OLDWICK, N.J. — (BUSINESS WIRE) — #insurance — AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating to “a” (Excellent) from “a-” (Excellent) of Trustmark Insurance Company, Trustmark Life Insurance Company of New York (Albany, NY) and Trustmark Life Insurance Company (collectively referred to as Trustmark Group). The outlook of these Credit Ratings (ratings) has been revised to stable from positive.

 

In addition, AM Best has upgraded the Long-Term ICR to “bbb” (Good) from “bbb-” (Good) of Trustmark Group, Inc. (TGI). The outlook of the Long-Term ICR has been revised to stable from positive. Subsequently, AM Best has withdrawn the rating of TGI due to the fact that the trust preferred securities issued by TGI’s subsidiary, Trustmark Financial Trust I were paid down in 2022; therefore, there is no outstanding debt, as its obligations were satisfied, and Trustmark Group, Inc. will no longer require a Credit Rating. All companies are domiciled in Lake Forest, IL, unless otherwise specified.

 

The ratings reflect Trustmark Group’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

 

The rating upgrades reflect Trustmark Group’s continued maintenance of the strongest level of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), favorable liquidity metrics and moderate investment risks. Trustmark Group has shown incremental strengthening of its risk-adjusted capital over the last few years, driven by strong operating results and a flexible dividend policy. Trustmark Group manages each insurance entity’s statutory capital to ensure appropriate levels are maintained. Furthermore, Trustmark Group has access to additional funds from the holding company, if required. Invested assets are exposed to higher risk investments, but the portfolio is actively managed to ensure risks are maintained at a moderate level. During 2022, Trustmark Group took steps to mitigate some of its asset risk as allocations in equities, cash, short-term investments and Schedule BA were reduced and shifted into fixed income, while mortgage loans, real estate and contract loans remained at the same levels from the prior year. The mortgage portfolio is made up of just commercial loans, and there were no delinquencies or foreclosures during 2022.

 

Trustmark Group’s operating performance remains adequate, with voluntary benefits driving overall results. Higher claims volume has led to material margin compression on its small-group third-party administration business. The group has reported favorable premium development following a recent strategic growth opportunity in the Washington state market. During 2022, better-than-expected persistency and revenue from sales in Washington drove revenue growth. The organization divested its closed long-term care block of business to its reinsurance partner and sold its large-group third-party administrator in 2022. Prospective revenues are expected to decline due to the divestiture of these businesses, and to a lesser degree, from pricing actions in the small-group business. This decline will be offset partly by Trustmark Group’s new contract with a large federation of local unions to provide universal life insurance with long-term care coverage to their actively employed members, starting in second quarter 2023.

 

Trustmark Group’s business diversity reflects the wide breadth of its operating subsidiaries’ voluntary life, supplemental health and small-group stop-loss products, as well its non-insurance administrative, wellness and fitness management services. The non-insurance entities also provide the organization with additional financial flexibility through their non-regulated earnings, which contributed favorably to Trustmark Group’s earnings. As noted above, in October 2022, Trustmark Group completed the sale of Trustmark Health Benefits, Inc. to Health Care Service Corporation (HCSC). The sale proceeds are expected to be used to grow the insurance businesses. AM Best notes that Trustmark Group operates in the highly competitive voluntary benefits market, which includes many national and regional insurers, and the group remains somewhat exposed to geographic concentration risk, as more than half of its business is generated in five states.

 

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

 

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

 

Copyright © 2023 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Jeffrey Lane

Senior Financial Analyst
+1 908 439 2200, ext. 5567
jeffrey.lane@ambest.com

Bridget Maehr
Associate Director
+1 908 439 2200, ext. 5321
bridget.maehr@ambest.com

Christopher Sharkey
Associate Director, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 439 2200, ext. 5098
al.slavin@ambest.com

Categories
Education Lifestyle Programs & Events

Barnes & Noble Education and the University of North Carolina at Charlotte to launch First Day® Complete program to enhance student success

30,000 + students will have access to all required textbooks, lab manuals, access codes and electronic book versions before the first day of class

 

BASKING RIDGE, N.J. — (BUSINESS WIRE) — Barnes and Noble College (BNC), a Barnes & Noble Education, Inc. (NYSE: BNED) company and leading solutions provider for the education industry, today announced the upcoming launch of First Day® Complete at the University of North Carolina at Charlotte (“UNC Charlotte”).

 

Barnes & Noble College (BNC), which manages BNED’s campus bookstores and associated school branded e-commerce sites, will be implementing First Day Complete for more than 30,000 UNC Charlotte students enrolled in fall 2023 semester courses.

 

By delivering all course materials via one highly convenient concierge service, First Day Complete ensures students have access to all their required course materials on or before the first day of class, allowing them to engage with course content from day one, making them better prepared and facilitating their academic success.

 

The program offers full academic freedom for faculty, allowing them to select course materials they think are best for their curriculum and leverage BNC’s deep relationships with more than 6,000 publishers, creating a one-stop, simplified experience.

 

With the launch of First Day Complete for the fall 2023 semester, all UNC Charlotte students will have access to all required textbooks, lab manuals, access codes, digital materials and electronic books in a convenient bundle before the first day of class at average student savings of between 35-50%.

 

“We are excited about our partnership with UNC Charlotte as we implement First Day Complete to enhance student outcomes,” said Jonathan Shar, President, Barnes & Noble College. “First Day Complete ensures students are prepared to begin learning on day one, driving greater student success while also offering a more affordable and convenient way for students to obtain their course materials. We support UNC Charlotte’s mission of providing the highest quality education, and through this partnership, we will provide a wide range of academic solutions and a seamless retail experience to help to drive success for UNC Charlotte students in the classroom and beyond. We look forward to working with UNC Charlotte and our other partner schools to continue delivering solutions that empower academic success for all students.”

 

Doug Lape, associate vice chancellor for Business Services, recognized the far-reaching impact the program will have on textbook affordability and educational accessibility for students at Charlotte. “The First Day Complete program provides us the ability to deliver course materials to students at a more affordable rate while driving student success by ensuring students have their coursework (both physical and digital formats) in their hands on the first day of class,” Lape said.

 

With First Day Complete, instead of purchasing course materials a la carte, the cost is included in each student’s account when tuition is charged. In July 2023, students will receive an email from the UNC Charlotte bookstore prompting them to select their preferred delivery method for their fall semester materials. The bookstore will prepare materials for each student and notify them when materials are available for in-store pickup or have shipped. Digital materials will be automatically delivered to students.

 

Hear what students, faculty and administrators had to say about their experiences using First Day Complete and how it has made a positive impact at their institutions. Watch the video, here.

 

For more information about BNC’s First Day Complete, visit, www.bncollege.com/academic-solutions/first-day-complete/.

 

Barnes & Noble College, a Barnes & Noble Education company, currently operates more than 770 campus stores nationwide. For more information about Barnes & Noble College’s services and locations, visit http://www.bncollege.com.

 

ABOUT BARNES & NOBLE EDUCATION, INC.

Barnes & Noble Education, Inc. (NYSE: BNED) is a leading solutions provider for the education industry, driving affordability, access and achievement at hundreds of academic institutions nationwide and ensuring millions of students are equipped for success in the classroom and beyond. Through its family of brands, BNED offers campus retail services and academic solutions, a digital direct-to-student learning ecosystem, wholesale capabilities and more. BNED is a company serving all who work to elevate their lives through education, supporting students, faculty and institutions as they make tomorrow a better, more inclusive and smarter world. For more information, visit www.bned.com.

Contacts

Media:
Carolyn J. Brown

Senior Vice President

Chief Communications Officer

908-991-2967

cbrown@bned.com

Investor:
Hunter Blankenbaker

Vice President

Investor Relations

908-991-2776

hblankenbaker@bned.com

Categories
Business International & World Lifestyle Regulations & Security

AM Best extends comment period on proposed revisions to Best’s Credit Rating Methodology, available Capital and Holding Company Analysis

OLDWICK, N.J. — (BUSINESS WIRE) — #insurance — AM Best has extended the comment period on proposed updates to Best’s Credit Rating Methodology (BCRM) and the criteria procedure “Available Capital and Holding Company Analysis” to April 28, 2023.

 

These draft documents are available in the methodology section of AM Best’s website at https://web.ambest.com/ratings-services/rating-methodologies. The extended comment period is in response to feedback from various insurance market participants and other interested parties. The original comment period was scheduled to end on March 31, 2023.

 

For a synopsis of the draft updates to BCRM and the criteria procedure (to be known as “Available Capital and Insurance Holding Company Analysis”), please see AM Best’s press release announcement, from February 28, 2023.

 

A video discussion on these proposed updates with Mahesh Mistry, senior director, credit rating criteria, and Mathilde Jakobsen, senior director, analytics, both of AM Best, also is available at http://www.ambest.com/v.asp?v=ambholdingscocriteria223.

 

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

 

Copyright © 2023 by A.M. Best Rating Services, Inc. and/or its subsidiaries. ALL RIGHTS RESERVED.

Contacts

Mahesh Mistry
Senior Director, Credit Rating Criteria
Research & Analytics
+44 20 7397 0325
mahesh.mistry@ambest.com

Christopher Sharkey
Associate Director, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Mathilde Jakobsen
Senior Director, Analytics
+31 20 308 5427
mathilde.jakobsen@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 439 2200, ext. 5098
al.slavin@ambest.com

Categories
Business Lifestyle Local News

Cenlar promotes Rene Gonzales to Chief Technology Officer

EWING, N.J. — (BUSINESS WIRE) — Cenlar FSB, the nation’s leading mortgage loan subservicer, announced today that Rene Gonzales has been promoted to Chief Technology Officer.

Rene, a seasoned IT leader with significant experience in large mortgage servicing operations, joined Cenlar in 2018 and quickly assumed responsibility for IT infrastructure and operations. He has a proven track record with directing transformational efforts, managing programs and projects, improving operational efficiency and integrating, implementing and developing new solutions.

 

In his role as Chief Technology Officer, Rene is responsible for providing strategic technology leadership to Cenlar’s business units. Additionally, Rene also leads solution architecture and innovation initiatives, partners with leaders to leverage technology to generate value and help achieve Cenlar’s business objectives and strategy.

 

“I have worked closely with Rene on a variety of projects, and I have grown to respect his dedication, commitment to excellence, and his ability to quickly adapt to fast technological change,” said Chief Information Officer Steven Taylor. “I also respect his strong sense of value and his people-centered leadership style. I’d like to take this opportunity to congratulate Rene on his work that proved his abilities. His demonstrated skills are what earned him the CTO role.”

 

During his tenure at Cenlar, Rene has provided technical direction and leadership for the new telephony platform implementation, the company’s cloud strategy and migration, and the rapid and successful shift to remote operations during the pandemic.

 

Prior to joining Cenlar, Rene held IT leadership positions at PHH Mortgage, Altisource, Ocwen Financial Corporation, Ally Financial, GMAC and JPMorgan. Rene also served honorably in the United States Army and the Army Reserves for 28 years, including mobilization tours supporting Operation Enduring Freedom, Operation Iraqi Freedom and Operation Noble Eagle, retiring at the rank of Major.

 

“I look forward to being the CTO and continuing our efforts to deploy innovative technology that demonstrates value to the company and our clients and their homeowners,” said Rene.

 

About Cenlar FSB

Cenlar FSB is the nation’s leading subservicer, servicing loans in 50 states and its U.S. territories. Cenlar boasts a loyal and growing client base including banks, credit unions and mortgage bankers. Our employees, strategically located throughout the United States, are dedicated to customer satisfaction and teamwork that drives client solutions unparalleled in quality, flexibility and innovation. Headquartered in Ewing, NJ, Cenlar is industry rated and audited regularly by independent third parties.

 

For more information, visit www.cenlar.com.

Find us on LinkedIn here: https://www.linkedin.com/company/cenlar-fsb/

Contacts

Adrienne R. Kowalski
Corporate Communications Director

arkowalski@cenlar.com

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ETC Group unveils new future-forward global brand

Unified global branding reflects the company’s integrations and focus on innovation to shape the future of global communication networks

 

EDISON, N.J. & EAUBONNE, France — (BUSINESS WIRE) — ETC Group (“ETC”), a leading global value-added distributor for the telecom network and digital infrastructure industry, on Monday announced its intent to rebrand to Netceed.

 

The Group’s brands will integrate into a singular organization across the globe including USTC Corp, Walker, Comstar Supply, and Multicom in the U.S.; EuroTechnoCom in France; ETCP and iETC in Portugal; Comtec in the UK, Qatar, Oman, UAE, and Hong Kong; ILDC in Israel; DNT in the Dominican Republic; ETC Morocco Networks; ETC Germany Networks; Klonex-VCS in Poland; and Tiba Produktions & Vertriebs GmbH in Austria. The unification of the Group reflects the already well-established global reach and local expertise of the companies powered by ETC Group, now coalescing them under one brand worldwide.

The transition to the unified global Netceed brand is planned sequentially over six months, starting with its brands in the U.S., France, and the UK. The new name, Netceed, paired with a bold and vibrant new brand design embodies the company’s commitment to shaping the future of global communication networks with agility, flexibility, and reliability. The dynamic and future-forward visual design channels the company’s focus on innovation and solidifies its dedication to delivering cutting-edge solutions with an unmatched level of telecom industry expertise.

 

ETC Group, soon-to-be Netceed, was founded in 1993 by Cédric Varasteh, and is a value-added distributor of passive and active telecommunications equipment and tooling with best-in-class technical and logistics solutions for network deployment, upgrades, and maintenance, supporting FTTH, FTTx, HFC, Wi-Fi, 5G/mobile, and data center technologies with over 30 years of industry expertise. The Group is backed by majority owner, international private equity firm, Cinven, with Cédric Varasteh and Carlyle Europe Technology Partners (“CETP”) holding significant minority stakes. ETC Group has over 1,250 employees across more than 40 locations that span 14 countries and supports 15,500+ customers worldwide including major American and European cable operators and telecommunications service providers.

 

CEO Cédric Varasteh commented “Our Group has transformed rapidly through acquisitions, organic growth, and Investor backing from Cinven and Carlyle Europe Technology Partners. This momentum and evolution into a singular impactful brand marks a huge milestone for our Group and renews our one team, one vision, one goal mentality under the name Netceed.”

 

Lindsay Hittner, Director of Marketing, said “This is a symbol of change, not just a change of symbol. Netceed’s evolved branding crystalizes the role we play in the industry as a leading global distribution telecoms specialist, while honoring the 30-year legacy of ETC Group. By keeping the letters ‘etc’ in our new name, we’re paying homage to the incredibly dynamic organization Cédric has built.”

 

The rebrand announcement follows on the heels of their appointment of Alper Turken, telecommunications executive, as Deputy CEO, to lead global growth alongside CEO, Cédric Varasteh. Turken added “The timing of our rebrand aligns with our global integration. This Group has the right mix of people, products, partnerships and processes and continues our unwavering dedication to unlocking value for our customers and partners on a global scale.” ETC also recently announced the acquisitions of BTV Multimedia and Amadys; both transactions are subject to customary regulatory approvals.

 

About ETC Group

ETC Group, soon-to-be Netceed, is a global leader in distribution, logistics, technical engineering, and product design with over 30 years of expertise and performance supporting the telecommunications and broadband industry. Founded in 1993 by Cédric Varasteh, ETC Group supplies and distributes a comprehensive range of passive and active equipment and tooling for network deployment, upgrades, and maintenance, supporting all technologies including FTTH, FTTx, HFC, Wi-Fi, 5G/mobile, and data center. The Group’s comprehensive portfolio of 70,000+ products from close to 1,000 industry-leading suppliers, along with their value-added supply chain solutions support carriers’ seamless delivery of high-speed Internet, Video, Data, and Voice services to Residential, Business, and Mobile Users. ETC Group employs over 1,250 people across 14 countries, and its experienced team works hard every day enabling technology and innovation to create a more connected future. To learn more, visit www.etc.group and www.netceed.com

Contacts

Media:
Lindsay Hittner, Director of Marketing

Phone: +1 732-718-6283

Email: Press@netceed.com