NEW YORK--(The Receivables Exchange, the online marketplace for selling accounts receivable, today announced the appointment of Henry (Hank) Allen as the company’s new chief executive officer. Allen was also appointed to the Board of Directors of The Receivables Exchange.)--
“Hank brings a very strong and compelling track record in the financial services industry”
“Hank brings a very strong and compelling track record in the financial services industry,” said Jeffrey Schwartz, managing director, Bain Capital Ventures and member of the Board of Directors of The Receivables Exchange. “His proven leadership combined with a deep understanding of financial services from both a strategic and operational point of view provides The Receivables Exchange with a powerful resource to lead the business into the next phase of its development.”
“I am delighted to be joining The Receivables Exchange,” said Hank Allen. “The Receivables Exchange is redefining the commercial finance industry and the way companies of all sizes finance receivables to improve working capital. The foundation already in place is impressive and my mandate is to continue to accelerate growth, drive scale, and establish the business as ‘the’ platform for receivables finance.”
Allen comes to The Receivables Exchange with more than two decades of global experience in leasing, lending, insurance and private equity for both consumer and commercial customer segments. Allen’s background includes 10 years at Marsh & McLennan with a series of progressively senior roles including president of their Multinational business where he was responsible for over 5,000 employees in 40+ countries and 3,500 of Marsh’s largest clients, and president and CEO of their Global Consumer group.
Allen’s experience prior to joining Marsh & McLennan includes being a partner of the European operations of Geocapital, a U.S.-headquartered venture capital fund, and time at GE Capital where he held a number of senior leadership positions in Europe including European president and chief executive officer of GE Capital Commercial Finance.
Allen earned a First Class Honors degree from Salford University in the U.K. in Applied Chemistry. He subsequently received a Diploma in Accounting and Finance from Newcastle Polytechnic, and an MBA from Manchester Business School, where he majored in Finance and International Business.
About The Receivables Exchange
Established in 2007, The Receivables Exchange is a first-to-market, real-time online marketplace for working capital financing that provides a game-changing solution for U.S. companies to monetize receivables. The Exchange connects businesses (Sellers) in search of flexible, affordable and continuous access to working capital to a global network of accredited Institutional Buyers. Sellers gain prompt and highly cost-effective access to the capital they need without restrictive covenants or onerous constraints, while Buyers get direct access to a $17 trillion asset class. The process lowers Days Sales Outstanding (DSOs) to as little as one day. For more information, visit www.receivablesXchange.com.