Accord Financial appointed Simon Hitzig president and chief executive officer, effective October 1, 2018. Former President and CEO Tom Henderson will remain with the company as vice chairman and director.
Hitzig joined Accord in 2011 after a long career in the investment industry. Notably, he spent 10 years with DundeeWealth, where he led the product development and marketing teams, driving growth from 1999 to 2009, leading up to the company’s sale to The Bank of Nova Scotia. In his seven years at Accord, Hitzig has been a catalyst for change and a key member of the executive team.
He joined the company as president of its non-recourse factoring division and went on to structure and close three acquisitions, which diversified Accord’s product offerings, giving the firm a strong presence throughout the U.S. and Canada.
Henderson passes on a growth mandate he directed for a decade as CEO. During that period, he carried on the tradition of strategic adaptation that has made Accord successful since 1978. Over the last five years, in particular, he orchestrated dramatic change, taking the company into complementary and profitable new market segments. He also deepened the management team, bringing on veteran banker Terry Keating to lead the U.S. asset-based lending division and Hitzig to keep the growth plan on track.
“Two of Accord’s founding fathers, Ken Hitzig and Fred Moss, are still a key part of our leadership team, and we’ve added top talent from outside and through acquisitions. The senior team has never been stronger,” says Henderson.
From its roots as a factoring company, Accord has transformed into a commercial finance company offering a one-stop source of senior secured financing to middle market businesses.
