The Receivables Exchange Names Institutional Sales Group Leader
The Receivables Exchange named Michael MacDonald executive vice president, Institutional Sales. MacDonald will be responsible for growing the company’s commercial receivables buyer base among Regional and Community Banks, Hedge Funds, Family Offices, International Banks and Asset Management firms. Growing interest in this asset class continues to draw buyers seeking to purchase short duration assets that provide a cash alternative with enhanced yields.
MacDonald joins The Receivables Exchange from Keefe, Bruyette & Woods where he held the position of managing director, Loan Portfolio Strategies Group. In that capacity, MacDonald was responsible for sourcing and managing all aspects of loan portfolio sale and valuation transactions for the past 11 years.
The Receivables Exchange’s trading platform is utilized by companies of all sizes. The Corporate Receivables Program in association with NYSE Euronext enables large private and publicly traded companies to leverage access to cost competitive capital through diversified sources of liquidity, while offering balance sheet benefits and improved credit risk management. Small and medium-sized companies leverage the platform to quickly obtain access to needed capital for operations and growth.
“We are pleased to welcome Mike to The Receivables Exchange, and believe his extensive background in working with banks, investment firms and other segments of the financial services industry to source and manage loan transactions will enable him to play a key role in accelerating our growth,” said Henry (Hank) Allen, CEO of The Receivables Exchange.
The Receivables Exchange is a real-time online marketplace for working capital financing that provides a cost competitive solution for companies to monetize receivables.