EVANSVILLE, Ind.--(BUSINESS WIRE)--Springleaf Holdings, Inc. (NYSE:LEAF), a leading consumer finance company providing loan products to customers nationwide, today announced that Scott T. Parker will join the company on or prior to November 15, 2015 as Executive Vice President. He will assume the title of Chief Financial Officer of Springleaf Holdings, Inc. (“Holdings”) on the later of his start date with the Company or the business day following the date on which Holdings files its Form 10-Q for the period ending September 30, 2015. He will be succeeding Minchung (Macrina) Kgil as Chief Financial Officer of Holdings while Ms. Kgil will continue to serve as Chief Financial Officer of the company’s subsidiaries. Parker joins Springleaf from CIT Group, Inc., where he served as Executive Vice President and Chief Financial Officer since 2010.
Upon joining the company Parker will be responsible for Springleaf’s Finance and Accounting functions, with a near-term priority of overseeing the integration of Springleaf and OneMain Financial following the receipt of all required approvals for and the closing of the company’s previously announced acquisition of OneMain.
Jay Levine said, “We are delighted to welcome Scott to the Springleaf team. He is a world-class executive and individual, who brings deep and broad experience and perspective across the entire range of financial functions, including Accounting, Planning, Treasury, Tax and Investor Relations. Scott joins us at a particularly important time, and we are excited about the numerous opportunities we have to deliver value for our shareholders as we bring together two best-in-class personal finance businesses to create a combined company that is financially solid and poised for growth.”
Mr. Parker said, “I am excited to join Springleaf at such an important time. Springleaf serves an important segment of the consumer economy. I look forward to working with Jay and the team to continue to develop the business to its fullest potential and to deliver value to our many stakeholders.”
Levine added, “Macrina’s commitment and contributions, both professional and personal, to Springleaf have been vital, particularly as we transitioned from private ownership to becoming a highly successful public company. I am grateful for all she has done and built over the last few years, and we look forward to her ongoing contributions.”
Prior to CIT, Parker served as Chief Operating Officer and Chief Financial Officer of Cerberus Operations and Advisory Company LLC, an affiliate of Cerberus Capital Management, LP. Before joining Cerberus in 2006, he spent 17 years in various financial leadership roles within the industrial and financial services businesses at General Electric Company, most recently as the Chief Financial Officer for GE Capital Solutions. Prior to GE Capital Solutions, Parker was Chief Financial Officer of GE Corporate Financial Services. Parker received a BS in Agricultural Economics (Business Management and Marketing) from Cornell University.
Forward Looking Statements
This press release contains "forward‐looking statements" within the meaning of the U.S. federal securities laws. Forward‐looking statements include, without limitation, statements concerning plans, objectives, goals, projections, strategies, future events or performance, and other statements, which are not statements of historical facts, including related to the closing of the OneMain transaction and subsequent integration. Statements preceded by, followed by or that otherwise include the words "anticipate," "appears," "believe," "foresee," "intend," "should," "expect," "estimate," "project," "plan," "may," "could," "will," "are likely" and similar expressions are intended to identify forward‐looking statements. These statements involve predictions of our future financial condition, performance, plans and strategies, and are thus dependent on a number of factors including, without limitation, assumptions and data that may be imprecise or incorrect. Specific factors that may impact performance or other predictions of future actions include, but are not limited to: various risks relating to the OneMain acquisition, including in respect of the satisfaction of closing conditions to the OneMain acquisition that are materially adverse to the business, financial condition or results of operations of the combined company; resolution of any potential concerns expressed to us by the DOJ and certain State Attorneys General with respect to the OneMain acquisition; unanticipated difficulties financing the purchase price of the OneMain acquisition; unanticipated expenditures relating to the OneMain acquisition; uncertainties as to the timing of the closing of the OneMain acquisition; litigation relating to the OneMain acquisition; the impact of the OneMain acquisition on each company's relationships with employees and third parties; the inability to obtain, or delays in obtaining, cost savings and synergies from the OneMain acquisition and risks associated with the integration of the companies; changes in general economic conditions, including the interest rate environment and the financial markets; levels of unemployment and personal bankruptcies; shifts in residential real estate values; natural or accidental events such as earthquakes, hurricanes, tornadoes, fires, or floods; war, acts of terrorism, riots, civil disruption, pandemics, or other events disrupting business or commerce; changes in the rate at which we can collect or potentially sell our finance receivables portfolio; our ability to successfully realize the benefits of the SpringCastle Portfolio and the OneMain acquisition if completed; the effectiveness of our credit risk scoring models; changes in our ability to attract and retain employees or key executives; changes in the competitive environment in which we operate; shifts in collateral values, delinquencies, or credit losses; changes in federal, state and local laws, regulations, or regulatory policies and practices; potential liability relating to real estate and personal loans which we have sold or may sell in the future, or relating to securitized loans; the effect of future sales of our remaining portfolio of real estate loans and the transfer of servicing of these loans; the costs and effects of any litigation or governmental inquiries or investigations; our continued ability to access the capital markets or the sufficiency of our current sources of funds to satisfy our cash flow requirements; our ability to comply with our debt covenants; our ability to generate sufficient cash to service all of our indebtedness; the potential for downgrade of our debt by rating agencies; our substantial indebtedness, which could prevent us from meeting our obligations under our debt instruments and limit our ability to react to changes in the economy, or our ability to incur additional borrowings; the impacts of our securitizations and borrowings; our ability to maintain sufficient capital levels in our regulated and unregulated subsidiaries; changes in accounting standards or tax policies and practices and the application of such new policies and practices to the manner in which we conduct business; the material weakness that we have identified in our internal control over financial reporting; and other risks described in the "Risk Factors" section of the Company's Form 10‐K filed with the SEC on March 16, 2015 and in other filings with the SEC, including the Company’s Form 10-Q filed with the SEC on May 8, 2015.. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward‐looking statements. We caution you not to place undue reliance on these forward‐looking statements that speak only as of the date they were made. We do not undertake any obligation to publicly release any revisions to these forward‐looking statements to reflect events or circumstances after the date of this presentation or to reflect the occurrence of unanticipated events. You should not rely on forward looking statements as the sole basis upon which to make any investment decision.
About Springleaf Holdings, Inc.
Springleaf is a leading consumer finance company providing loan products to customers through its nationwide branch network and online presence. Springleaf has a nearly 100-year track record of high-quality origination, underwriting and servicing of personal loans, primarily to nonprime consumers. Springleaf operates one of the largest consumer finance branch networks in the United States, serving its customers through nearly 830 branches in 28 states. For more information, please visit Springleaf.com.