Daily News: February 10, 2014

Staple Street Names CIT’s Parker to New Executive Board

Private equity firm Staple Street Capital announced the formation of its operating executive board, comprised of a select group of highly accomplished leaders that will provide the firm with guidance on its investment activities. The newly formed board will augment Staple Street Capital’s broader network of industry executives who help the firm identify and evaluate new investment opportunities, and provide value added resources to increase growth and profitability in its portfolio companies.

The board will include Scott T. Parker, a member principally focused on the industrial and financial services sectors. Parker currently serves as the executive vice president and chief financial officer for CIT Group where he is responsible for overseeing all financial operations.

Before joining CIT, Parker served as chief operating officer and chief financial officer of Cerberus Operations and Advisory Company, a Cerberus affiliate which consists of over 100 industry executives who serve as directors or operating executives of Cerberus’ portfolio companies and help optimize the performance of Cerberus’ portfolio companies.

Prior to joining Cerberus in 2006, Parker spent 17 years in various financial leadership roles within the industrial and financial services businesses at General Electric, most recently as the chief financial officer for GE Capital Solutions. Prior to GE Capital Solutions, Parker was chief financial officer of GE Corporate Financial Services.

New York-based Staple Street Capital is a private equity firm that invests in attractive middle market companies where there are compelling operational, financial or strategic opportunities to create value.

To read the Staple Street Capital news release click here.