Resource America, a specialised asset management company, has promoted Thomas Elliott, currently senior vice president (SVP) of finance and operations, to the additional position of chief financial officer (CFO). He replaces Steven Kessler, CFO since 1997, who has retired from that position and has assumed the role of chairman of Resource Capital, a real estate investment trust sponsored and externally managed by the company.
Prior to becoming SVP in 2005, Elliott was a vice president-finance from 2001 to 2005. He also served as CFO of Resource Capital, serving from September 2005 until June 2006. From 1997 to 2001, Elliott held various financial positions at Fidelity Leasing, a former subsidiary of Resource America, including manager of financial planning, director of asset securitisation and treasurer.
ExxonMobil is legally challenging a $2m fine from the US Treasury for allegedly violating sanctions against Russia in 2014 while US Secretary of State Rex Tillerson was still overseeing the company.
BNP Paribas is the latest in a long line of financial service companies to be penalised for misconduct during the financial crisis on both sides of the Atlantic.
Late payments were experienced by 64% of companies in 2016, a recent Coface report found.
Frankfurt has announced proposed changes to employment laws to allow banks to hire and fire more easily.