Triumph Appoints Tim Valdez President of Factoring Division

Rhea-AI Summary

Triumph Financial, Inc. (Nasdaq: TFIN) has appointed Tim Valdez as president of its factoring division, overseeing strategic direction and operations. Valdez brings extensive experience from TriumphPay and WEX Fleet One Factoring, where he managed transportation factoring portfolios. The company aims to enhance its role in the transportation factoring industry by promoting entrepreneurship and financial solutions. Triumph recently consolidated its brands into a single identity, streamlining its offerings including financing, insurance, and banking services for the transportation sector.

Positive

• Tim Valdez brings extensive experience in the factoring industry, enhancing leadership.
• Consolidation of Triumph's brands into a single identity may improve market presence.

Negative

• Valdez's promotion may raise concerns about continuity if previous leadership steps are unclear.

DALLAS, Dec. 13, 2022 (GLOBE NEWSWIRE) -- Triumph, a member of the Triumph Financial, Inc. (Nasdaq: TFIN) portfolio of brands and a leading provider of working capital financing solutions to the transportation industry, announced today 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.

You can read more about the rebrand announcement here: https://www.tfin.com/news-releases/news-release-details/triumph-bancorp-rebrands-triumph-financial

About Triumph

Triumph is a leading provider of cash flow management services for the trucking industry. Triumph provides a unified product offering that includes invoice factoring, fuel discount programs, truck and cargo insurance and access to equipment finance, banking and treasury services.

Triumph is a member of the Triumph Financial, Inc. (Nasdaq: TFIN) portfolio of brands. Factoring products and services offered by Triumph Financial Services LLC, a subsidiary of TBK Bank, SSB, DBA Triumph. Insurance products and services offered through Triumph Insurance Group, Inc., a subsidiary of TBK Bank, SSB DBA Triumph. Triumph Insurance Group, Inc., DBA in CA Triumph Risk and Insurance Solutions, All Rights Reserved. | TX License #1941647 | Insurance Products and Services offered through Triumph Insurance Group, Inc. are NOT A DEPOSIT, NOT FDIC INSURED, NOT GUARANTEED BY THE BANK, NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY AND MAY GO DOWN IN VALUE. Equipment Finance and Asset Based Lending products and services offered by TBK Bank, SSB. Banking products and services offered by TBK Bank, SSB. Member FDIC.

About Triumph Financial

Triumph Financial, Inc. (Nasdaq: TFIN) is a financial holding company focused on payments, factoring and banking. Headquartered in Dallas, Texas, its diversified portfolio of brands includes TriumphPay, Triumph and TBK Bank. www.tfin.com

Forward-looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. Investors are cautioned that such states are predictions and that actual events or results may differ materially. Triumph Financial’s expected financial results or other plans are subject to a number of risks and uncertainties. For a discussion of such risks and uncertainties, which would cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" and the forward-looking statement disclosure included in the company's Annual Report on Form 10-K, filed with the Securities and Exchange Commission on February 14, 2022. Forward-looking statements speak only as of the date made, and Triumph Bancorp undertakes no duty to update the information.

Investor Relations
Luke Wyse
SVP, Finance & Investor Relations
lwyse@tbkbank.com
214-365-6936

Media
Amanda Tavackoli
SVP, Director of Corporate Communication
atavackoli@tbkbank.com
214-365-6930

FAQ

What is the significance of Tim Valdez's appointment at Triumph Financial?

Tim Valdez's appointment as president of Triumph's factoring division signifies a strategic move to leverage his extensive experience and leadership skills to drive the company's growth in the transportation factoring industry.

How does Triumph Financial's brand consolidation impact its operations?

The brand consolidation into a single identity aims to streamline Triumph's offerings, potentially enhancing its market visibility and operational efficiency in serving the transportation sector.

What experience does Tim Valdez bring to his new role at Triumph Financial?

Tim Valdez has significant experience from his previous roles at TriumphPay and WEX Fleet One Factoring, where he managed transportation factoring portfolios, making him well-suited for this leadership position.

What are the potential challenges with Tim Valdez's leadership at Triumph Financial?

While Tim Valdez's experience is valuable, there may be potential challenges regarding organizational continuity and the transition from previous leadership, depending on the clarity of succession planning.