TORONTO, July 27 /CNW/ - Accord Financial Corp. (TSX - ACD), a leading North American provider of factoring and other asset-based financial services to businesses today announced a change in name of its two Canadian operating subsidiaries.
Montreal-based Montcap Financial Corp. ("Montcap") has changed its name to Accord Financial Inc., while Toronto-based Accord Business Credit Inc. ("ABC") has changed its name to Accord Financial Ltd.
The Company's U.S. subsidiary is already named Accord Financial, Inc. and henceforth all group companies will operate under the Accord Financial name. Coincident with the name changes, the Company will be introducing a common corporate logo and website.
Commenting on the name changes, Tom Henderson, President of Accord Financial Corp. noted "that all three of our North American operating companies will now present a uniform message to the marketplace and be able to better leverage their respective marketing activities and referral sources. The message is that our myriad of financial services, including receivable credit protection, asset-based lending and factoring and financing for small and medium sized enterprises, can now be easily accessed at any of our subsidiary companies".
Fred Moss, President of Accord Financial Inc., formerly Montcap, commented "we will take great care to ensure that the significant goodwill associated with the Montcap name will not be lost and we will continue to utilize the Montcap name in our marketing efforts for a period of time".
Mark Perna, President of Accord Financial Ltd., formerly ABC, said "it is exciting to see all of our operating companies utilize the Accord Financial name and we anticipate that the cross marketing of our products will be accelerated with great benefit to our mutual clients".
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