Triumph, a member of the Triumph Financial, announced the appointment of Tim Valdez as president of its factoring division. In this new role, Valdez will now oversee the strategic direction of Triumph’s factoring vertical.

Prior to this promotion, Valdez served as senior vice president for TriumphPay. TriumphPay providers audit and payment services to the transportation factoring industry, including to Triumph.

“We’re excited to welcome Tim into his new position,” said Aaron P. Graft, vice chairman and chief executive officer of Triumph Financial. “Factoring provides the gateway for entrepreneurs to fulfill the American dream of starting and building a business. Our goal is for Triumph to thrive as a factoring company and for the entire transportation factoring industry to thrive. This is why we built TriumphPay, which is where Tim has spent the last year. His experience there, plus decades in the factoring industry, makes him the ideal leader for Triumph and an ambassador for the entire transportation factoring industry.”

Prior to joining TriumphPay last year, Valdez worked at WEX Fleet One Factoring, where he managed the daily operations of its transportation factoring portfolio. He joined WEX in 2019 when the company acquired Pavestone Capital, a factoring company co-founded by Valdez that served small and middle-market transportation and other non-transportation industries. Prior to founding Pavestone Capital in 2012, Mr. Valdez served as the chief lending officer for Transportation Alliance Bank.

"I am honored to accept this new role within Triumph, and to help lead a talented and experienced team dedicated to serving the transportation industry,” Valdez said. “Triumph is widely known and respected as an industry leader and innovator. We will work to demonstrate our commitment to improving the financial lives of the companies we serve and the team members who share their talents with us.”

The company recently completed a brand consolidation of Triumph Business Capital, Triumph Insurance Group and Triumph Commercial Finance, allowing its factoring, insurance and banking services for the transportation industry to go to market as the single brand – Triumph.

As such, Wess Peterson continues as president of Triumph’s insurance division and Todd Ritterbusch as president of TBK Bank, which includes the equipment finance and asset based lending divisions.