Two New ARM Businesses Launched in Canada

Scott Coffin, President and CEO of Aeox Financial Group, is pleased to announce the introduction of two new business ventures in Canada.

Canaccede International Investments Ltd. has been established to participate in the distressed consumer debt purchase market. The company has secured a $100 million credit facility with a leading U.S. based company that specializes in underwriting acquisitions in this asset class.  The primary focus of company’s efforts will be in the Canadian market.  There will be efforts to develop the company’s international business in the near-term.

Card Acquisition Canada Inc., in partnership with its sponsoring financial institution Peoples Trust Company, will begin offering a Balance Transfer (BT) credit card program in the first quarter of 2009.  The primary objective of this business is to provide consumers an alternative means to resolve outstanding credit obligations while providing them with a fully functional credit card, offered at competitive rates.

In addition, the BT program will provide financial institutions and debt buyers with an alternative strategy for recovering their accounts.  The company has partnered with Card Acquisition, LLC, of Sioux Falls, South Dakota, a leading supplier of the Balance Transfer solution in the U.S. market.

Mr. Coffin was involved in the formation of Portfolio Management Group in 2000 and worked directly with the company from 2004 through 2008, leading the corporate development function.  He is one of the most experienced operators in the market and has a diverse background in senior management roles in the Canadian financial services industry.

ARM industry veteran Andy Szemenyei will be joining the company in October to lead international market development for both Canaccede International Investments Ltd. and Card Acquisition Canada Inc.

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