Xander Media Group, parent company of the Monitor and ABF Journal, announced it has relaunched its Molloy Associates executive search business effective immediately. With more than 40 years of recruiting experience in the equipment finance and leasing industry, Molloy Associates is reactivated and open for business after a five-year hiatus.

In conjunction with the relaunch of Molloy Associates, Xander Media is pleased to announce that Jim Gavaghan, formerly with GE Capital, has joined the firm as senior vice president and business head of Molloy Associates.

Molloy Associates president and chief executive officer, Jerry Parrotto, said, “When the financial crisis of 2008-2009 hit, the recruiting business went into a vertical dive. It wasn’t that the phones weren’t ringing, but the activity was almost entirely the result of cut-backs and layoffs. People were calling us for help in finding a job, but there were no jobs, just a continuing saga of bad news that took its toll on our staff members.”

Now that the economy is recovering and showing signs of sustainability, Molloy Associates is back and actively seeking new job order assignments. “It was gratifying to hear encouraging words from many of the folks who attended this year’s ELFA conference, which confirmed our sense it was time to return and participate in the resurgence of the industry,” Parrotto said.

Gavaghan spent 33 years as a successful business leader with GE Capital. He led several equipment finance/leasing businesses through the financial crisis in addition to leading the Corporate Finance Equipment group’s Mid-Atlantic region for 20 years. He has a proven ability to hire and develop top talent and a demonstrated track record of exceeding goals. He has led teams that ranged in size from 40 to 70 people. His background and experience encompasses public finance, capital markets, fleet leasing, technology finance and M&A.

Commenting on the arrival of Gavaghan to the firm, Parrotto said, “Jim is a proven performer and I feel fortunate that he decided to join us in this endeavor to resurrect the greatness of Molloy Associates. He understands the industry, is well connected and has shown a remarkable sense of how he can use his background and experience to assist others in furthering their careers.”

Gavaghan said, “I enjoyed a great relationship with Molloy Associates over the years. We benefited from their expertise and hired a number of good people who contributed significantly to our success at GE Capital. So when Jerry contacted me and posed the question, it got me to thinking what a great way to stay in the game and use my industry knowledge and expertise. Jerry has a unique business model which provides market access through the publishing side of the business. I am pleased to be connected with these great brands and look forward to working under the Molloy Associates banner.”

Editor’s note: Jim Gavaghan can be reached at [email protected], 800-708-9373 #126 or 267-307-2581 (Cell). View current position openings.

Rosemont, PA-based Xander Media Group is a holding company that operates under the brand names of Monitor, ABF Journal, monitordaily, abfjournal.com and Molloy Associates. If you live in the Philadelphia area and have an interest in joining Molloy Associates as an executive recruiter, please call Jim Gavaghan at 800-708-9373 #126 or email him at [email protected].