As a result of a year of tremendous growth in the company's asset-based lending business, Bibby Financial Services announces the hire of Michael Levy, Senior Vice President, Business Development and John Socarraz, Senior Vice President/Underwriter.

To date, Bibby Financial Services has seen explosive growth in asset-based lending deals. To bolster this growth, the company continues to hire seasoned professionals with ABL experience and the skillset needed to maintain the company's efficiency as the team continues to close larger and more complex deals.

"Having worked with Michael and John in the past, we are confident that their wealth of experience in ABL will bolster and further the growth of our ABL portfolio," states Barry Kastner, Executive Vice President of Bibby Financial Services Americas.

Leading the business development charge in California, Levy has more than 30 years of ABL experience and has held senior management roles at Chase Manhattan Commercial Corp., Congress Financial and Senate Capital Corporation. Additionally, Levy holds a Juris Doctorate from Mid Valley College of Law and served on the California Commercial Finance Conference's Board of Directors.

Bringing with him more than 25 years of experience in financing middle-market companies, Socarraz will work to ensure continued ABL growth in Florida. He made impressive contributions at both TD Bank and Congress Financial, where he dealt extensively in the underwriting and execution of ABL deals.

"We feel the best investment we can make is in human capital," says Leigh Lones, Chief Executive Officer of Bibby Financial Services Americas. "We deliberately hire for skills that will drive our growth. Both Michael and John have proven ABL experience and have demonstrated the ability to grow that segment of business across a variety of markets."

Bibby Financial Services, a worldwide market leader in business financing solutions, supports businesses of all sizes in virtually every industry with flexible, customized funding solutions. With its asset-based lending and factoring products, the company provides clients access to the working capital needed to grow and support their businesses. Bibby Financial Services operates offices in seven North American cities and 16 countries and is a subsidiary of The Bibby Line Group, a privately held company established in the United Kingdom in 1807.