Daily News: October 11, 2013

Salus Capital Partners Announces New Team Members


Salus Capital Partners announced four new team members:

Gary D. Hoffstein joins Salus as the senior vice president, chief information officer, responsible for managing the direction of technology to support the firm’s continued growth through strategic planning and evaluation. Hoffstein provides leadership for all areas of information technology strategy, development, and implementation. With more than 25 years of experience, Hoffstein is both an entrepreneur and expert in the computer and technology industry. Prior to joining Salus, Hoffstein was the vice president, technology officer, at Blue Hills Bank. He specialized in the implementation and maintenance of the bank’s hardware, software, networks, servers, security, disaster recovery and business continuity planning. Prior to working at Blue Hills Bank, Gary was President and Founder of Emagine USA, a premier web hosting and Internet service provider.

Timothy G. Johnson joins Salus as a vice president, Risk Management and Diligence Review, responsible for third party diligence, contributing to the final review and recommendations pertaining to risk-related issues. In addition, Johnson assists on Special Opportunity transactions including restructurings and bankruptcies to maximize asset recovery. Johnson has more than 20 years of diversified finance experience including auditing, underwriting, portfolio management and asset recovery. Prior to joining Salus, Johnson was director of credit at Capital Source, with responsibility for underwriting new transactions, field examinations, and support on problem loans and work-outs. Prior to Capital Source, Johnson was a vice president at Transamerica Technology Finance, and before that, a vice president at Fleet Capital, contributing to both lenders in various capacities including auditing, underwriting, a and relationship management. Before lending, Johnson was a certified public accountant with Touche Ross & Co.

JohnPaul Nuzzo joins Salus as a vice president, senior portfolio manager, responsible for managing portfolio relationships while identifying and reacting to the ongoing needs of borrowers. Prior to joining Salus, Nuzzo was a workout officer at TD Bank, responsible for managing a portfolio of distressed commercial loans. While at TD, Nuzzo also played a role in developing the restaurant franchise finance division within the bank. JP began his career in asset-based lending at Wells Fargo Capital Finance, where he held several positions including Collateral Analyst, Field Examiner and Relationship Manager. Nuzzo is a member of the Turnaround Management Association and the Commercial Finance Association.

Peter W. Yelle joins Salus as a vice president, portfolio manager, responsible for managing portfolio relationships while identifying and reacting to the ongoing needs of borrowers. Prior to joining Salus, Yelle was a vice president at Wells Fargo Capital Finance, where he was responsible for managing a portfolio of asset-based lending relationships. Yelle began his career as a field examiner in the asset-based lending industry, first on large corporate borrowers at GE Capital and then on middle market companies at Wells Fargo Business Credit.

“We are extremely pleased with the additions of Gary, Tim, JP, and Peter to our team,” said Andrew H. Moser, president and CEO of Salus Capital Partners. “Each brings an extreme level of experience to our company as we look to continue our prudent growth in serving the corporate middle-market with a keen focus on preservation of capital.”