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Press Releases

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Canadian Black Book Named the Approved Residual Value

December 15, 2009 — Markham, Ontario — RVI Group, the pre-eminent name in residual value insurance now recognizes Canadian Black Book as its Approved Residual Value Guide in Canada.

"Canadian Black Book has been recording and reporting vehicle values in Canada for almost 50 years, and we are pleased with the relationship that has developed between our companies," said Rene Abdalah, Vice President of RVI. "Canadian Black Book values are used by banks, dealers, leasing companies, government agencies and auctions," continued Mr. Abdalah, "and we respect their broad and deep understanding of the Canadian auto marketplace."

"RVI has been an excellent consultant for us and we are pleased our cooperation continues on an official level," said Kathy Ward, Canadian Black Book's president and CEO. "Residual values are the result of an exceedingly complicated process and we believe that pooling the Canadian Black Book and RVI expertise and resources will lead to products and services that will better serve the Canadian auto market."

Both companies look forward to expanding on the synergies which will come from this relationship.

For further information: regarding information contained in this release contact: RVI Group, Valerie Torphy, Client services manager, (203) 975-2124, VTorphy@RVIGroup.com; Canadian Black Book, Josh Bailey, Senior manager, client services, (905) 413-7614, Josh@CanadianBlackBook.com Read Full Story (PDF)

Kelley Blue Book Residual Values Named Approved Guide Book by RVI Group

October 7, 2009 — Irvine, CA — Kelley Blue Book, www.kbb.com, the leading provider of used car values and residual analysis, announces a new relationship with RVI Group www.rivgroup.com, the pre-eminent name in residual value insurance, in which RVI now recognizes Kelley Blue Book as its approved Residual Value Guide and will henceforth insure vehicle residual values based upon the company's residual value forecasts.

The past twelve months have seen levels of volatility that have surpassed anything previously seen in the industry, and the recent financial crisis has demonstrated the need to incorporate additional macroeconomic factors into the forecast methodology. In this new relationship, Kelley Blue Book will fulfill RVI's exacting forecasting requirement for insuring residual values.

"After performing our due diligence for more than a year, we are confident that Kelley Blue Book's approach delivers extremely reliable vehicle residual values," said Rene Abdalah, vice president of RVI Analytical Services. "We chose Kelley Blue Book due to our common approach and the company's methodological transparency. We respect the clarity of Kelley Blue Book's forecast model assumptions and their in-depth product knowledge of the vehicles we insure."

Kelley Blue Book uses a time-tested methodology of collecting millions of vehicle transactions and reporting projections based on current vehicle data, sales data, market conditions for each vehicle, competition within vehicle segments, expectations of the future economy and the combined experience of Kelley Blue Book's team of market and pricing analysts. Kelley Blue Book's Residual Values are used by banks, financial institutions, governmental agencies and the automotive leasing industry.

"Our goal has always been to support manufacturers, banks and other financial institution partners in mitigating risk, sustaining profitability and having the broadest understanding of the vehicle marketplace as possible," said Eric Ibara, director of residual value consulting at Kelley Blue Book. "Our advanced modeling capabilities allow us to develop a forecast that incorporates the quantifiable elements and minimize the subjectivity of the model, providing a broad view incorporating the effects of industry volatility as well as economic forces."

The Kelley Blue Book Residual Value Guide is published bi-monthly in hard copy form and now in electronic format. Subscribers of the electronic version will benefit from the latest forecast a full 45 days earlier than book subscribers. Read Full Story (PDF)

RVI Group Welcomes Vice President, Sales, for TSI

May 15, 2009 — Stamford, CT — The RVI Group is pleased to announce that Joseph M. Few has joined the company as Vice President, Sales.  Joe will be responsible for sales and new business development for RVI’s wholly-owned subsidiary, Transition Services, Inc..

 

Mr. Few has spent his career in financial services, the last ten years having worked with large companies in the design, implementation and funding of executive benefit programs.  He was formerly with Retirement Capital Group, Southeast, which he co-founded and served as Senior Vice-President, Director of Consulting Services.  Prior to that, Mr. Few was a financial advisor with the Principal Financial Group.

 

Joe is a graduate of Wingate University and also attended the University of Georgia.  He holds multiple professional designations from the American College in Bryn Mawr, PA. 

 

Transition Services, Inc. designs and administers cost-saving alternative severance management solutions.  TSI is a subsidiary of the RVI Group, the world’s leading provider of residual value insurance. which offers specialty insurance products, financial solutions and analytical services.  RVI’s sophisticated underwriting, risk analysis and asset valuation expertise deliver a wide range of benefits to clients worldwide. 

John O'Bryan Promoted to Senior Vice President, Commercial Equipment

April 1, 2008 — Stamford, CT — John O'Bryan has been promoted to Senior Vice President, Commercial Equipment at the RVI Group in Stamford, CT. John will lead the Company's efforts insuring general aviation and commercial aircraft residual values.

Mr. O'Bryan joined RVI in March 2001 after four years at CIT Group as Vice President Structured Finance. He has over 28 years of experience in equipment leasing. Prior to CIT, John was with Deutsche Bank in Dublin, Ireland and Sydney, Australia.

John is a committee member of the Equipment Leasing and Financing Association's Service Providers Business Council.

The RVI Group announces the appointment of Wei Fan as Assistant Vice President.

September 4, 2007 — Stamford, Conn. — As the head of RVI’s Quantitative Analysis Department, Mr. Fan will be responsible for providing analytical services to both internal and external clients. Wei’s team will also be a key player in developing new products and services for current and potential new clients.

Mr. Fan most recently spent five years as Director, Used Vehicle Market Solutions at J.D. Power and Associates in Detroit. He holds a Ph.D. in Economics from the University of Michigan, Ann Arbor as well as a Master in Physics from the University of Delaware and a B.S. in Physics from Shanghai Jiao Tong University, Shanghai, China.

RVI Group Welcomes New CFO

May 29, 2007 — Stamford, Conn. — David A. Klanica has joined RVI Group as Senior Vice President and Chief Financial Officer. He most recently served as Vice President and CFO for Pitney Bowes Capital Services. Prior to this, he was Global Technical Controller for GE Capital, Commercial Equipment Financing, where he was responsible for financial reporting, securitization, financial risk, business combinations and portfolio purchases, and technical accounting research and training throughout that organization. He also served as the Director of Accounting Services at Mercedes-Benz Credit Corporation with responsibilities including financial reporting, portfolio and general accounting, financial planning and analysis, and treasury. Upon graduation from college, he was with KPMG LLP for twelve years, the last six years of which were as a Senior Audit Manager. He received his B.S. in Accounting from Quinnipiac University. He is a Certified Public Accountant.

Michael P. McGroarty joins the RVI Group as Senior Vice President and General Counsel.

March 5, 2007 — Stamford, Conn. — Mr. McGroarty most recently spent over five years as Senior Vice President and General Counsel of Portrait Software in New Haven, CT. Prior to this, he worked at Information Management Associates of Meriden, Connecticut. He served there as Vice President, General Counsel and Secretary and for the final 18 months as Chief Operating Officer, General Counsel and Secretary.

His responsibilities at RVI will include direction of the legal functions of RVI in compliance with applicable law and regulations for the insurance industry as well as partnering with the CEO and Executive Team in strategy development and execution.

Mr. McGroarty received his Juris Doctor in May, 1986 from Villanova University School of Law and his BSBA in Finance in May 1982 from Georgetown University. He is a member of the state bars of Connecticut, California, and Pennsylvania.

RVI's new online analytical system featured in "Ward's Dealer Business"

March 1, 2007 — Las Vegas, NV — "Ward's Dealer Business" Read Full Story (PDF)