The chief operating officer of Marlin Business Services (MRLN) in Mt. Laurel, N.J., plans to resign.
George Pelose will step down during the first quarte, the $673 million-asset company said Wednesday. Pelose, 49, who joined Marlin in 1999 as its general counsel, is leaving to pursue other interests, the company said.
Marlin plans to reorganize its management team to handle the COO's duties. Edward Dietz, Marlin's general counsel, will take on the additional role of vice president of administration, with responsibility for reporting on business operations, asset recovery, human resources and insurance divisions. Chief Executive Daniel Dyer will oversee reporting responsibility for credit underwriting and portfolio management.
Pelose "has led the company through change and was instrumental in shaping Marlin and successfully growing the company," Dyer said in a press release.
Marlin also announced that its third-quarter earnings rose 37% from a year earlier, to $4.7 million, as its assets increased by 16%.
In September, Marlin hired Bryce Ray as chief lending officer, handling investments and underwriting.