NEW YORK, Nov. 07, 2016 (GLOBE NEWSWIRE) -- Newtek Business Services Corp., (NASDAQ:NEWT), an internally managed business development company ("BDC"), today announced that it has acquired the talent of two senior executives. Timothy C. Ihlefeld has been hired as Executive Vice President, Strategic Alliances, and Glenn Weisberg has been hired as a Regional Vice President. Barry Sloane, Chairman, President and Chief Executive Officer of Newtek Business Services Corp. said, "We are thrilled to have acquired the talent of two senior executives that will fulfill two glaring business needs that we have had in 2016. Timothy Ihlefeld will be managing all of our regional vice presidents, while providing business development and marketing services to our strategic alliance partners across the U.S. As a professional sales manager, Timothy brings a disciplined and dynamic approach to managing our full suite of Newtek services using both traditional and non-traditional marketing and sales methods, which we believe will help us dramatically increase business referrals across all five of our product lines." Mr. Sloane continued, "Glenn Weisberg will be primarily responsible for managing and building additional strategic alliance relationships in California, Oregon and Washington. The California market has historically been an underperforming geographic area for Newtek. With California representing approximately 20% to 25% of our nation's total gross domestic product, we believe it is an area of significant opportunity to further expand our alliance partner network. Glenn will be working out of our southern California office. We look forward to him representing us across existing and new alliance relationships in the region, leveraging his extensive knowledge of small business lending gained through his previous senior positions at Wells Fargo and other organizations. We believe he will strategically position us to establish a strong sales and marketing presence on the West Coast."