Michael Holden Tapped as New CFO at Newtek Business Services

NEW YORK – Michael Holden has been named the new chief financial officer and senior finance executive at Newtek Business Services. Holden, who assumed both roles on June 10, has more than 20 years of financial management experience, including with publicly traded companies, most recently as CFO of Pep Boys, overseeing design and management of a comprehensive financial management, control and reporting functions. He holds a BS from Drexel University and is also a certified public accountant. Holden replaces Brian Wasserman who resigned from his positions with the company on June 9. Newtek Business Services, a provider of business services and financial products to the small to medium-sized business market, has more than 90 partnerships with credit unions, leagues and CUNA. In May, the Louisiana Credit Union League partnered with the company to bring small business services to the state's 262 credit unions. Wasserman's departure leaves a vacancy on the company's board of directors, which currently has six members. Netwek is planning to fill the vacancy from outside of the company "to enhance the Board's independence and assist in sharpening our focus on building shareholder wealth," said Barry Sloane, chairman and CEO.