NEW YORK — Stanley Officina can boast that he's had a much shorter retirement than expected — about one month, to be exact.
The familiar face on Seventh Avenue retired in April after a 10-year stint as president of Sterling Factors, only to surface as chief executive officer of Ultimate Financial Solutions, based here. About a month after what felt was more like an extended vacation rather than retirement, Officina was approached by a group of investors who pitched him an intriguing opportunity: to partner with them in a joint venture specializing in financing and factoring for firms that trade on a global basis. It was an opportunity Officina couldn’t resist, he said.
As for his brief foray into retirement, the newly minted ceo said: “It wasn’t exactly what I had anticipated. But the idea [of a joint venture] was something that presented itself, and it was an opportunity that I couldn’t afford to pass by,” Officina said.
The 30-year-plus veteran — he spent more than 20 years at Ambassador Factors before joining Sterling — immediately began putting some plans into action, one that included scouting for office space.
Ultimate Financial Solutions began operations last month at 450 Seventh Avenue. In addition to Officina, Jocelyn Yambao has joined the staff as executive administrator. Her previous experience includes several years at Congress Factors, which is now part of CIT Group.
In addition to setting up the office, Officina also provided input on new advertisements highlighting how Ultimate Financial Solutions can help companies.
“UFS brings you all the power and connectivity of a full-service global alliance: international trade expertise, solid relationships and deep resources all over the planet and the kind of advanced Web capability that makes it all work faster and more efficiently,” one advertisement said.
The alliance, called Power Chain Management, consists of a group of support services firms that stretch from the Pacific Rim to the East and West Coasts of the U.S.
“Based on the way the market is changing and is becoming more and more reliant on manufacturing facilities that are based offshore, particularly in the Pacific Rim, we view this as a terrific opportunity to form a strategic alliance with a number of companies that can provide everything from sourcing and quality control to freight forwarding, warehousing, EDI and software services systems,” said Officina, who is spearheading the factoring service of the alliance.While companies are free to utilize the full range of services that UFS provides, they also can unbundle the package and choose just certain options and services.
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