ORIX Financial Services Promotes Fite to Group President, Equipment Finance Group

Gary Corr, president and COO of ORIX Financial Services, Inc. (OFS) announced the promotion of Bill G. Fite to group president of ORIX's equipment finance group (EFG).

Corr states “Bill's broad background in equipment finance, along with his proven track record of building motivated, focused teams, is ideally suited to execute EFG's strategic initiatives in the future, and achieve success”. Fite has more than 23 years of experience in the equipment finance and leasing industry and joined OFS in January 2001 as EVP & director of sales and marketing for the EFG.

Prior to joining ORIX, Fite served as senior vice president and senior executive of the equipment finance and leasing division of ABN AMRO's Lease Plan USA unit. He previously held positions at Citizens and Southern National Bank, and Citicorp Industrial Credit.

ORIX Financial Services offers an array of financing products through its four groups: the Equipment Finance Group, the Public Finance Group, the Business Credit Group, and the Structured Finance Group. The Equipment Finance Group provides lease and loan financing to middle market companies on a tax and non tax oriented basis through its direct and vendor sales teams, with focus within select vertical industries. The Business Credit Group offers asset and cash flow based loans to companies that need funds for acquisitions, growth, working capital, capital expenditures, recapitalization and other unique situations. The Public Finance Group offers equipment, real estate and project financing for state and local governments as well as for federal agencies. Lastly, the Structured Finance Group provides capital equipment financing, “turnkey” financing and other non-tax operating lease products for businesses serving the medium-to-large ticket market.

ORIX Financial Services is an indirect wholly owned operating subsidiary of ORIX Corporation, a leading diversified financial services organization with assets in excess of $50 billion. ORIX Corporation is based in Tokyo, Japan with operations in 23 global markets. ORIX is a publicly traded company listed on the Tokyo, Osaka, Nagoya and New York Stock Exchanges (Ticker: IX).