The Alta Group announced that industry veteran Jim Merrilees has joined the global advisory firm as Vice Chairman in a business development role.
Merrilees will advise potential clients on ways Alta can add value to their organizations through increased originations, new business model launches, market entry opportunities, operational efficiencies, merger and acquisition advisory, asset management and appraisals, and other value-added services.
His distinguished career was highlighted by historic firsts in the equipment leasing and finance industry, where he also enjoyed opportunities to help launch new businesses. He served on the boards of two trade groups that merged to become the National Equipment Finance Association (NEFA), and he was an early contributor to the development of the CLFP program (Certified Lease & Finance Professional). He recently was honored by NEFA with a Lifetime Achievement Award in recognition of his significant contributions to the industry. He also is a former board member of the Equipment Leasing and Finance Association.
After a brief retirement, he decided to get back to what he enjoyed most in his professional positions: coaching and advising others. Merrilees joined The Alta Group because “the advisory firm is the most comprehensive and most respected in the industry,” he said, and he had existing relationships with many of its leaders and client colleagues.
“We are delighted Jim has joined Alta,” said co-CEO James (Jim) Jackson. “He has a distinguished career highlighted by senior positions at Pitney Bowes Credit, Colonial Pacific Leasing, Textron Financial and Channel Partners.”
While at Colonial Pacific, he and his team introduced credit scoring automation with Fair Isaac Co. (FICO), and they were early, innovative adopters of online leasing applications. He also initiated the concept of adding insurance to lease contracts, a product offered by Great American Insurance Group today. His deep experience includes advising service providers looking to position themselves in the industry and assisting companies seeking to raise capital. He also was an initial client and former President of Quiktrak.
While much of his 40-year career centered on leading and developing business strategy for independents, he also worked for NationsCredit, which was a part of Bank of America.
Merrilees continues to be an active participant in the equipment leasing and finance industry and encourages professional education and training.
He holds the designation of CLFP and has a BS in finance from Miami University in Ohio and an MBA from Pepperdine University. His home office is in Costa Mesa, CA, where he resides with his wife, Renee.