Private Export Funding Corporation Makes Announcement.Business Editors NEW YORK--(BUSINESS WIRE)--March 10, 2004 Private Export Funding Corporation Private Export Funding Corporation (PEFCO) Company that mobilizes private capital for financing the export of big-ticket items by US firms by purchasing at fixed interest rates the medium- to long-term debt obligations of importers of US products. ("PEFCO PEFCO See: Private Export Funding Corporation ") announced today that its Board of Directors at its March meeting elected Don B. Taggart as the new President and Chief Executive Officer of PEFCO to succeed Delcour S. Potter, who will retire from those positions, effective Monday, March 15, 2004. Mr. Potter will continue to serve as Chairman of the Board. Prior to becoming the President and Chief Executive Officer of PEFCO, Mr. Taggart served as the Head of Financial Markets, Americas of ING. Mr. Taggart joined ING in 1998 as Head of Treasury after 21 years at J.P. Morgan Chase and its predecessors, where his last positions was Managing Director and Corporate Treasury/Debt, Capital and Balance Sheet Management Executive. About PEFCO PEFCO, a Delaware corporation A Delaware corporation is a corporation chartered in the U.S. state of Delaware. Delaware is well known as a corporate haven, and thus, over 50% of US publicly-traded corporations and 58% of the Fortune 500 companies are incorporated in the state. , is principally engaged in making U.S. dollar loans to foreign importers to finance purchases of goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. of United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. manufacture or origin. PEFCO's shareowners consist of commercial banks, including most of the major United States banks involved in export financing, industrial companies involved in exporting U.S. products and services and financial services companies. |
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