Contifinancial Corp., a consumer and commercial finance company, has hired a new chief financial officer.

Daniel Willet, formerly treasurer with Contifinancial's parent company, Continental Grain Co., will begin work on Feb. 1.

Jerome M. Perelson, the previousfinance chief, will continue to manage the company's credit and investor relations departments.

The move in no way represents a demotion for Mr. Perelson, said Contifinancial chief executive Jim Moore.

The company's heavy focus on acquisitions and strategic alliances has expanded Mr. Perelson's credit responsibilities, Mr. Moore said.

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