CAN Capital, a tech-driven small business specialty finance company, has hired Tom Davidson as its new Chief Financial Officer. Davidson brings 25 years of financial services experience to the company, including deep expertise in capital markets, securitization, treasury, investor relations and risk management.
“I couldn’t be more excited to have Tom on our team. Over the course of his career, he has demonstrated incredible knowledge of capital markets, and that experience will be invaluable as we grow and expand our business and capital sources,” shared CAN Capital CEO Parris Sanz. “Tom has proven his abilities to effectively execute strategic plans, drive growth, and improve portfolio performance. I’m looking forward to working with him to grow our capabilities and execute new strategies that will allow us to do even more to help small businesses succeed.”
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Davidson joins CAN Capital from Sierra Auto Finance, where he was Chief Financial Officer & Chief Capital Officer. He previously worked at GE Capital for 16 years, serving in a variety of senior roles, eventually rising to Senior Managing Director and Chairman & CEO of GE Capital Markets, Inc. During that time, Davidson was responsible for global securitization for GE Capital and managed the forecasting, planning and execution of securitization and monetization activities across a diversified portfolio in excess of $30 billion, while guiding the development of new strategies and competitive offerings.
“It’s rare to have the opportunity to join a company that is a genuine pioneer in its field and also so well-positioned for future growth,” explained Davidson. “But most of all, what attracted me to CAN Capital is the opportunity to serve the small businesses that form the backbone of the American economy.”
Ray De Palma, who has served as CFO since May 2017, will take on the role of Chief Accounting Officer, enabling him to focus on the operational accounting needs of the company, as well as provide critical support in the areas of treasury and financial planning and analysis. De Palma will remain part of CAN Capital’s Executive Committee and will report to Davidson.
Established in 1998 has reportedly provided access to nearly $7 billion in capital for over 75,000 small businesses in a wide range of locations and different business types through business loans made by WebBank, member FDIC, and through Merchant Cash Advances made by CAN Capital’s subsidiary CAN Capital Merchant Services, Inc.