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NY-Based African Asset Finance Company Appoints Gagnon as CFO

December 04, 2019, 07:22 AM
Related: CFO, Personnel Moves

African Asset Finance Company Inc. (AAFC), a New York-based non-bank financial and equipment leasing firm, announced the appointment of Christine D. Gagnon as Chief Financial Officer. In the new role, she will lead AAFC's finance, accounting and credit risk functions, reporting directly to the company's Chairman and Chief Executive Officer Frans VanSchaik.

Gagnon joins AAFC with nearly 20 years of international business management, strategic planning, finance, accounting and risk management experience in the banking and professional services industries.

"Christine's addition strengthens our growing senior management team and supports our corporate strategy to expand access to equipment leasing strategies across multiple African markets," said VanSchaik. "The depth of Christine's finance, accounting and credit management experience, along with her professional experiences in Africa will help us grow and provide oversight to our subsidiaries. I look forward to working closely with her as we execute our plan."

Previously, Gagnon served as a Director at Ernst & Young LLP in various leadership roles, including CFO and Chief Operating Officer of EMEIA Financial Crime and COO of Financial Services Africa. She also held leadership positions at OneWest Bank, N.A., serving as First Vice President in the Offices of the CEO and Vice Chairman, and PricewaterhouseCoopers LLP, as a Senior Manager. Gagnon is a Certified Public Accountant. She earned a bachelor of science in accounting, with distinction, a master of science in accounting and a master of business administration from the University of Connecticut.

"I have a strong personal appreciation for AAFC's dedicated mission and strategy focused on bringing mission critical equipment to a variety of industries in sub-Saharan Africa," Gagnon said. "I look forward to working closely with Frans and helping to advance this mission."

In August 2019, AAFC's wholly owned subsidiary, Ethio Lease, became the first foreign-owned company in Ethiopia to receive a financial services license from the National Bank of Ethiopia. This license enables Ethio Lease to address the equipment and foreign exchange shortages facing Ethiopia by providing local businesses with access to high-quality equipment, allowing businesses to grow their operations and thereby creating jobs and increasing productivity throughout the country.

AAFC provides equipment leasing and finance solutions. Its wholly owned Ethiopian company, Ethio Lease, specializes in providing capital leases (or finance leases) to Ethiopian businesses for equipment in a range of vertical markets.

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