Daily News: February 28, 2013

The Receivables Exchange Names New Chief Risk, Finance Officer

The Receivables Exchange, an online marketplace for selling accounts receivable, named Dan Pengue chief risk and finance officer.

Pengue comes to The Receivables Exchange with a broad background of more than 30 years of risk and financial management experience. He had an extensive corporate career with GE and GE Capital, with his final role as chief risk officer (CRO) of GE Capital’s Vendor Finance business.

While at GE he also served in various risk and operations leadership roles within GE Capital’s Commercial Finance Group including CRO Business Credit, managing director-European Risk and Global Factoring based in London as well as CRO for Xerox Capital Services (a joint venture between Xerox and GE).

Prior to joining The Receivables Exchange, Pengue also served as a consultant providing risk and operations consulting services to such firms as TD Bank, Wells Fargo Capital Finance and Genpact.

“Dan brings an extensive background in leading corporate finance functions and in managing enterprise risk, which is critical in today’s business environment. The combination of his knowledge, experience and leadership skills will provide The Receivables Exchange with vital strategic capabilities,” said Henry (Hank) Allen, chief executive officer of The Receivables Exchange.

Established in 2007, The Receivables Exchange is the first real-time online marketplace for working capital financing that provides a cost competitive solution for companies to monetize receivables.