Aqua Finance Announces Senior Leadership Changes

Kurt Grossheim Appointed Chief Executive Officer

Independent Board Member Dave Fasoli Appointed Non-Executive Chairman of the Board

WAUSAU, Wis., Feb. 03, 2023 (GLOBE NEWSWIRE) — Aqua Finance (“Aqua” or the “Company”) today announced that veteran financial executive Kurt Grossheim has been appointed Chief Executive Officer of the Company, succeeding Rich Morrin, who will remain with the Company as an advisor. In addition, Aqua independent director Dave Fasoli has been appointed Non-Executive Chairman of the Company’s Board of Directors. Grossheim and Fasoli bring significant expertise and several decades of experience, respectively, to Aqua’s growing consumer finance platform.

Grossheim was most recently President and CEO of fintech firm Global Holdings, and before that was EVP and Chief Operating Officer of Synchrony, a consumer and business financing company. Ephraim Rudman, Apollo Partner and Aqua Board Member, said, “Kurt is a proven executive who has led high performing teams at several large financing companies, and we are confident he’s the right leader for Aqua’s next phase of growth and development. We also want to thank Rich for his many contributions to the Company, overseeing significant loan origination growth and leading Aqua through the Covid pandemic during his CEO tenure.”

Fasoli, who was appointed to Aqua’s Board in July of 2022, retired as EVP and CEO of CareCredit, a Synchrony business, in 2019 following a nearly 40-year career. “We are also pleased for Dave to take on a greater role as Non-Executive Chairman, in which he will be focused on enhancing Aqua’s commercial excellence, and we expect the Board and management team to benefit from his tremendous and long-tenured career in the industry,” Mr. Rudman added.

Commenting on his new role, Grossheim said, “Aqua has a long history of providing dependable and flexible financing solutions to consumers across the home improvement and recreational ecosystem, and I am excited to join at such a pivotal time for the Company. I look forward to working with management, Dave and the Board, and the entire Aqua team to continue building a modern financing platform powering households across America.”

Outgoing CEO Rich Morrin said, “I would like to thank the entire team at Aqua for all of their hard work over the last three plus years to help make a good company even better. The future is bright for Aqua and I’m thankful to have been a part of it.”

About Aqua Finance
Aqua Finance is a fast-growing specialist lending platform operating in all 50 states that originates and services consumer loans, primarily for home improvement, recreation, pool/spas, and water treatment. With its network of over 5,000 dealers, contractors, and retailers, Aqua Finance delivers flexible and consumer-friendly financing programs so families can bring their dreams to life. To learn more, please visit https://aquafinance.com/.

Aqua Finance Contact
Kimberly Field
General Counsel, Aqua Finance
[email protected]

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