PHH Arval To Become Element Fleet Management

PHH Arval announced in mid-August that it will fully transition to the Element Fleet Management brand before the close of 2014. In a deal in early-July, Canadian finance company Element Financial Corporation purchased PHH's FMC wing. Element Financial Corp. was founded in 2007 and operates across North America within the parameters of commercial & vendor finance, aviation finance, railcar finance, as well as fleet management.

Element Fleet Management reports directly to Element Financial Corporation and it is a subsidiary of a Canadian company. Jim Halliday, President of North America for Element Fleet Management, said in a recent interview that the basic structure of PHH Arval's hierarchy will remain and transition to the new name. Patricia Furgiuele, President of Element Fleet Management's Canadian counterpart,ill report to Halliday and he will report to Brad Nullmeyer, President of Element Financial Corporation.

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