ECN Capital appointed Michel Béland to the position of chief financial officer of the company effective immediately.

Béland has served continuously as the chief financial officer of Element Financial since July 2011 and has served as the CFO of ECN Capital under a transition services agreement (TSA) since the separation of Element Fleet Management and ECN Capital on October 3, 2016.

Béland will continue to be available under the terms of the TSA to assist Samir Zabaneh, the new CFO of Element Fleet Management in the assumption of his responsibilities.

“For more than five years, Michel served as the CFO of Element Financial Corporation and throughout that period was an indispensable member of the senior leadership team that successfully grew that company through its formative years to become one of North America’s leading commercial finance companies,” said Steven Hudson, CEO of ECN Capital and former CEO of Element Financial. “He has been a valued business partner of mine for more than 25 years and I’m grateful that he has agreed to continue to serve as ECN Capital’s CFO as we position the company for the next stage of our growth,” added Hudson.

“I want to acknowledge the very fundamental contribution that Michel Béland made over the last five years in building the solid foundation on which Element Fleet Management now stands,” said Bradley Nullmeyer, CEO of Element Fleet Management. “Under his leadership, Element successfully closed and integrated a series of strategic acquisitions, raised more than $5.8 billion in debt and equity capital and managed the company through last year’s separation transaction.”