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Newtek Business Services Hires Choksi as SVP of Finance

April 17, 2015, 07:17 AM

Newtek Business Services Corp., an internally managed business development company, announced that it has acquired the talent of Dean Choksi.  Choksi will join Newtek as Treasurer and Senior Vice President of Finance.  Choksi has over 14 years' of experience with financial analysis and equity research and possesses specific expertise in areas of valuation, financial modeling, capital markets and financing.

Most recently, Choksi was the Executive Director of Finance at Fifth Street Management LLC, an investment advisor of two publicly traded BDCs, where he played a key role in capital market transactions, assisting in the raise of over $1.0 billion in public debt and equity, and was the primary contact for multiple lenders in a multi-hundred million dollar syndicated bank credit facility. Prior to that, he was a Director of U.S. Equity Research at UBS Investment Bank, and the lead analyst covering consumer finance and specialty finance companies, including BDCs.  Choksi also worked in equity research at Barclays Capital and Lehman Brothers, where he co-covered nine companies in several financial services sub-sectors, and at RBC Capital Markets where he followed IT consulting and business services companies.

Barry Sloane, President, Chairman and Chief Executive Officer of Newtek Business Services Corp. stated, "We are thrilled to have acquired the talent and expertise of Dean Choksi.  Through Mr. Choksi's professional experience with senior positions at Fifth Street Management LLC, UBS Investment Bank, and Barclays Capital, he has amassed an extremely well-rounded skill set with expertise in the areas of financial modeling, valuation of companies, capital markets and financing. This skill set combined with his extensive knowledge of BDCs creates a perfect fit with and welcome addition to Newtek's senior management team.  As Treasurer and Senior Vice President of Finance, he will work closely with me and our Chief Accounting Officer, Jennifer Eddelson, and will be primarily responsible for the Company's financial model and valuation process, as well as managing the Company's lending relationships and treasurer responsibilities.   The addition of Dean is evidence of our growth as a BDC and reinforces our goal of having the best personnel in place to support our continued expansion and success as a BDC."

Newtek Business Services Corp., The Small Business Authority®, is an internally managed BDC, which along with its controlled portfolio companies, provides a wide range of business services and financial products under the Newtek® brand to the small- and medium-sized business ("SMB") market. Since 1999, Newtek has provided state-of-the-art, cost-efficient products and services and efficient business strategies to over 100,000 SMB accounts across all 50 States to help them grow their sales, control their expenses and reduce their risk.

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