Ampent Names Raymond L. Smith as New Chief Executive; Former Fritz Companies, U.S Fleet Leasing and GE Capital Executive to Accelerate Ampent's Growth.Business Editors SAN FRANCISCO--(BUSINESS WIRE)--March 20, 2001 Today Ampent(TM) announced the appointment of Raymond Raymond, town, Canada Raymond, town (1991 pop. 3,130), S Alta., Canada, SE of Lethbridge, in a sugar beet area. Sugar is refined and honey is produced there. A provincial agricultural college is in the town. L. Smith as its Chief Executive Officer and to its Board of Directors. Smith will focus on business development and strategy. Ampent's co-founder, Troy Klith, will continue to serve as President and Chairman and will oversee daily business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets . Previously, Smith was CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Fritz fritz n. Informal A condition in which something does not work properly: Our television is on the fritz. [Perhaps from German Fritz Companies, one of the world's largest publicly traded supply-chain logistics corporations, with over 11,000 employees located in 115 countries and $1.6 billion in revenue. Fritz Companies recently announced its decision to sell the company to UPS. Prior to joining Fritz, Smith was President of U.S. Fleet Leasing, a subsidiary of Associates First Capital Corporation with over $1.6 billion in earning assets Earning Assets Any income-earning asset owned by a company. Notes: These assets are generally interest-bearing accounts, bonds, and securities available for sale. See also: Asset, Asset Valuation, Earnings, Net Interest Margin . During Smith's six years of leadership the subsidiary grew at over 25% per annum Per annum Yearly. , generated its strongest profitability gains and was judged the industry leader for overall customer satisfaction and growth. Smith has also compiled a distinguished 15-year record at GE Capital where he was General Manager for private-label credit card programs, and responsible for business development of its fleet leasing and service business. "Smith's private-label credit background at GE Capital, his experience as president of U.S. Fleet Leasing and his leadership at public companies will help take Ampent to the next level," said Klith. "Smith's proven track record at successfully growing businesses into industry leaders provides a skill set that Ampent can use to achieve significant competitive advantages." "The $260 billion leasing market represents a great opportunity for a well-positioned company," said Smith. "Ampent's recent success in signing new partners is an indication of its solid business strategy, their excellent management team and their patent-pending technology which is laying the foundation for growth and market leadership." Additionally, Smith has won numerous civic and professional awards and has served as President and Chairman of the American American, river, 30 mi (48 km) long, rising in N central Calif. in the Sierra Nevada and flowing SW into the Sacramento River at Sacramento. The discovery of gold at Sutter's Mill (see Sutter, John Augustus) along the river in 1848 led to the California gold rush of Automotive Leasing Association. About Ampent Established in 1997, Ampent(TM), formerly AccessLease.com, provides for the seamless distribution of capital through the financing supply chain, accelerating commercial lease transactions for small-ticket equipment vendors, funding sources and lessees. With their patent pending Capital Acceleration Platform(TM) (CAP), Ampent significantly increases the speed, efficiency and quality of finance transactions while reducing the cost and effort associated with traditional lease processes. Headquartered in San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , CA, Ampent is a member of the Equipment Leasing Equipment Leasing is a financing option to lease equipment for a certain amount of time. Leasing Benefits
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