Relational Technology Solutions Names Rick Newman As Vice President of Portfolio Management
Posted on: Monday, 16 April 2007, 12:00 CDT
Relational Technology Solutions (RTS), one of the largest independent technology leasing and converged technology solutions providers in North America, today announced the appointment of Rick Newman as vice president of Portfolio Management.
In this position, Newman will be responsible for pricing and managing Relational's portfolio of Sun, IBM and HP UNIX servers, and all related leasing and remarketing opportunities. Newman will play a key role in directing the company's nearly $1 billion in assets and will report to Mike Ross, senior vice president of Portfolio Management at Relational Technology Solutions.
"Rick's wealth of experience in creating extraordinary new opportunities for the purchase, lease and resale of technology across the IT spectrum will be an asset to our organization," said Ross. "With his more than 15 years in government and corporate sales, Rick is a proven leader who has demonstrated an extensive knowledge of established technologies, as well as a superior grasp of the related pricing, structuring and supply issues inherent in the leasing industry. We look forward to benefiting from his insights into emerging trends within the remarketing segment of lease technology."
Previously, Newman was vice president of Remarketing and a partner at R3 Systems Group, where he focused on asset recovery of IT equipment from leasing companies, government and corporations. He was instrumental in launching R3's asset recovery business, which focused on providing asset disposition and data eradication services to Fortune 500 companies. Along with enhancing the company's remarketing efforts by expanding into consumer electronics, Newman simultaneously reduced the company's remarketing budget by 36 percent within his first year of managing the asset recovery business unit.
Prior to joining R3, Newman was senior portfolio manager at Comdisco, Inc., where he successfully managed a $900 million UNIX portfolio and was responsible for maximizing the value of the portfolio's profitability. He also consulted regularly with Fortune 500 clients on procurement strategies that saved millions of dollars on technology acquisitions.
Newman holds a bachelor's degree in finance from Northern Illinois University.
About Relational Technology Solutions
Relational Technology Solutions (RTS) is a premier independent technology and financial solutions provider dedicated to helping its clients solve business challenges with an integrated suite of solutions for technology acquisition, finance and disposition. Founded in 1990, the company now manages nearly $1 billion in assets for Fortune 2000 and midmarket companies across all industries. Visit http://www.rts.com for more information.
Source: Business Wire
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