Capital Business Credit (CBC), a supply chain finance company specializing in providing factoring, asset-based loans and trade finance solutions, appointed Robert Grbic as president and chief executive officer and Michael Fortino as chief operating officer, in addition to his current role as chief financial officer, effective immediately.
Capital Business Credit was recently acquired by White Oak Global Advisors, a global alternative asset manager specializing in originating and providing financing solutions to facilitate the growth, refinancing and recapitalization of small and medium enterprises.
“This is an exciting time at CBC. For nearly 30 years, CBC has focused on serving small and middle market companies, and now under the White Oak umbrella, we have the wherewithal to fund larger transactions and expand our product reach nationwide,” said Andrew Tananbaum, executive chairman, CBC. “With our strong management team in place, CBC has the opportunity to accelerate our growth by providing companies with financial solutions that traditional banks aren’t able to offer.”
Grbic, previously CBC’s chief credit officer and chief operation officer, succeeds Tananbaum, who has been serving as interim CEO. Grbic has more than 35 years of commercial lending experience and has been with CBC since 2005. In his previous roles, he oversaw the company’s operations, expanding its client portfolio and managed credit decisions to maintain CBC’s leadership position in providing financing facilities to small- and medium-sized businesses across the U.S.
Prior to joining CBC, Grbic was managing director at Morris Anderson, a turnaround consulting firm. He also co-founded MetSource Capital, a restructuring and corporate finance firm specializing in working with small- and medium-sized companies. In addition, he served as an executive vice president at GMAC Commercial Credit and BNY Financial.
Previously, Fortino served as CBC’s general manager, overseeing the finance and IT departments and has been with the company since 2006.
Before joining CBC, Fortino was chief financial officer at Levenger, a multi-channel retailer of high-end writing instruments and organizational products.