Integrated Asset Management Corp.

Integrated Asset Management Corp.

March 09, 2010 08:43 ET

Integrated Asset Management Corp. and Integrated Private Debt Corp. Announce That E. Dennis McCluskey Has Joined Integrated Private Debt

TORONTO, ONTARIO--(Marketwire - March 9, 2010) - Integrated Asset Management Corp ("IAM") (TSX:IAM) and John Robertson, President and Chief Executive Officer of its wholly-owned subsidiary, Integrated Private Debt Corp. ("IPD") are pleased to announce that on March 1, 2010 E. Dennis McCluskey joined IPD as Chief Risk Officer.

Prior to joining IPD, Dennis was the founding President & CEO of CIT Business Credit Canada, Inc. ("CITBCCI") an asset based lending ("ABL") joint venture between Canadian Imperial Bank of Commerce ("CIBC") and Cit Group, Inc. During his nine-year tenure on secondment from CIBC, CITBCCI grew from a true start-up to what is presently considered the largest and best-in-class Canadian ABL platform. As part of his role as President and CEO, Dennis was personally involved in a number of high profile financings and restructurings. During his previous 23 year career with CIBC, Dennis held senior head office management positions in risk management, corporate finance and special loans.

As Chief Risk Officer, Dennis will be responsible for the integrity and maintenance of IPD's investment grade loan portfolios. 

IPD manages and provides funding from an aggregate of $0.9 billion in Integrated Private Debt Fund LPs on behalf of a number of pension funds and other institutional investors. IPD offers fixed rate, investment grade term loans to mid-market companies for such purposes as refinancing existing debt, plant expansion or modernization, project financing and management buyouts.

IAM is Canada's leading alternative asset management company, with approximately $2.1 billion in assets and committed capital under management in private debt, private equity, managed futures, real estate and retail alternative investments.

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