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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: November 14, 1995
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(Date of earliest event reported)
HELLER FINANCIAL, INC.
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(Exact name of registrant as specified in its charter)
Delaware
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(State or other jurisdiction of incorporation)
1-6157 36-1208070
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(Commission File Number) (IRS Employer Identification Number)
500 West Monroe Street, Chicago, Illinois 60661
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(Address of principal executive offices) (Zip Code)
(312) 441-7000
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(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS
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On November 14, 1995, Heller International Corporation, parent of Heller
Financial, Inc. (the "Registrant"), issued a press release announcing the
election of Richard J. Almeida as the new Chairman and Chief Executive Officer
of Heller International Corporation ("International") and the Registrant. Mr.
Almeida previously served as the Executive Vice President and Chief Financial
Officer of International and the Registrant. The press release also announces
the election of Mitchell F. Vernick as Vice Chairman of both companies. A copy
of the press release is attached.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
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(c) Exhibits
99 Heller International Corporation - Announcement Naming Richard J. Almeida
as Chairman and Chief Executive Officer
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
Dated: November 14, 1995
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HELLER FINANCIAL, INC.
By: /s/ Debra H. Snider
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Debra H. Snider
Title: Executive Vice President, General
Counsel and Secretary
2
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EXHIBIT INDEX
Exhibit Sequentially
Number Numbered Pages
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99 Heller International Corporation - Announcement 4 - 6
Naming Richard J. Almeida as Chairman and
Chief Executive Officer
3
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Heller International Corporation Names Richard J. Almeida
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Chairman and Chief Executive Officer
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(Chicago, IL -- November 14, 1995) -- Richard J. Almeida, the Chief
Financial Officer of Heller International Corporation, has been named by the
firm's Board of Directors as Chairman and Chief Executive Officer. Almeida was
also named Chairman and Chief Executive Officer of Heller Financial, Inc.
Almeida succeeds Michael S. Blum, who died unexpectedly on October 29. At the
same time, Mitchell F. Vernick was named Vice Chairman for both companies. Both
appointments were announced by Hajime Maeda, Chairman of Heller's Executive
Committee and Managing Director of The Fuji Bank, Limited, Heller's parent
company.
Almeida, 53, joined Heller as CFO in 1987 and in that role he has helped
direct efforts to significantly upgrade the company's financial profile by
focusing on improved asset quality, strong liquidity and quality earnings.
Almeida also has served as the primary link to the investment community and
other outside constituencies as the company continues to work toward
establishing a stand-alone credit rating.
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Working closely with the senior management team, Almeida helped develop a
strategic direction for the company that is marked by a more diversified and
well-balanced portfolio. Heller's strategy has focused on increasing its
financial products and services to accommodate a wider range of middle-market
and niche businesses. While still offering cash flow financing and real estate
lending, the company has expanded its factoring and working capital solutions,
returned to asset-based lending, and added various types of equipment financing
and equity investments, among other products.
"As the company's record performance over the past three years has
demonstrated, the Heller management team has certainly succeeded in meeting and
exceeding its strategic and operating objectives," said Fuji Bank's Maeda.
"Dick Almeida has played a pivotal role in that success. We are confident that
under Mr. Almeida's leadership and direction, Heller will achieve continued
growth and prosperity."
"I'm enthusiastic about taking over the Heller team," said Almeida. "We
are a company that values teamwork, stability and continuity. Under Mike Blum's
leadership, we made great strides over the past five years and I see the company
continuing on in that same direction."
Prior to joining Heller, Almeida spent nearly 20 years with New York-based
Citicorp/Citibank, serving in a number of operating, origination and strategic
planning positions.
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Vernick, 40, joined Heller in 1986 and has helped a number of businesses
succeed and grow. As head of the Corporate Finance Group, Vernick has
established Heller as a leading lender to the middle market. Before joining
Heller, he spent six years in a variety of operating, account and analyst
positions at Continental Illinois Bank and Citicorp Industrial Credit.
Heller International Corporation is a wholly owned subsidiary of The Fuji
Bank, Limited, one of the world's largest banks. Heller International
Corporation's primary subsidiary is Heller Financial, Inc., which provides U.S.-
based clients with cash flow financing, factoring and working capital loans,
equipment financing and leasing, asset-based finance, real estate financing and
equity investments. The company also operates in European, Asian and Latin
American countries through joint-venture and wholly owned companies. These
companies specialize in factoring, asset-based finance, acquisition finance,
leasing, vendor finance and trade finance.
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