Blue Chip Leasing, a division of Chesswood Group, appointed Marcelle Newstadt as sole president. Newstadt started with Blue Chip in 2002 and has been directly responsible for the operations of the business over the last 15 years.

“We’re very excited for Marcelle who now takes over sole responsibility for Blue Chip’s continuing growth, after partnering with Ramon Chait, as co-presidents,” said Barry Shafran, Chesswood’s president and CEO. “Marcelle is well known within the Canadian leasing industry and is a highly capable and respected leader.”

In September, Chait will be joining Equilease to help support the business’s continuing expansion efforts. Equilease is one of Canada’s largest equipment finance brokers and a long-time customer of Blue Chip.

“Ramon has made a large contribution to Blue Chip’s success and we thank him for those efforts,” Newstadt said. “I’m committed to driving the continued growth of Blue Chip, along with our excellent team.”