Gila Corporation Announces Sweeping Management Changes and Restructuring Plan

Gila Corporation announced a major initiative to restructure its business operations to better align its resources with the needs of the government and financial institution market segments.  During the past year, the Company has strengthened its executive management team and substantially upgraded its technology.

Thomas M. Giamboi, Founder and President of Gila Corporation stated, “The high caliber executive leadership team that we’ve assembled will serve our customers and employees well.  As we expand our client base and scope of services, this talented group of professionals, combined with our newly enhanced technology, positions us for additional growth”.

In addition to attracting a strong senior leadership team, Gila Corporation completely overhauled its information technology infrastructure during the past year.  With strategic investments of more than $2 million, the Company implemented a sophisticated VOIP phone system, with recording and dialer features, and installed new high speed computers at every employee workstation.  The combination of superior human capital and cutting edge technology will support the continued expansion of Gila Corporation’s businesses.  The Company was recently recognized for the sixth time as one of the 50 fastest growing private companies in Central Texas by the Austin Business Journal. 

As part of the Company’s plan, Patrick J. Swanick was named Chief Executive Officer.  He joined the Company’s Board of Directors last year and had also been serving as interim Chief Operating Officer.  He is a 26 year veteran of the financial services industry, having held a variety of executive level assignments with KeyCorp and Wachovia Corporation.  Most recently, he was President of Retail Banking and Electronic Services at KeyCorp in Cleveland, Ohio, where he had responsibility for over 900 branches nationwide and directed the company’s consumer e-commerce and internet strategies. 

A graduate of St. Joseph’s University in Philadelphia, Swanick holds an undergraduate degree in marketing and an MBA in management.  He serves as an independent director of Captaris, Inc. (NASDAQ: CAPA), a Bellevue, Washington software company offering information delivery solutions and Tyfone, Inc., a Portland, Oregon technology start up focused on the mobile payments market. 

Med Fadel has been appointed Chief Operating Officer of Gila Corporation.  He brings a multi-disciplinary management background to the Company.  In prior roles, Fadel served as CEO, COO and a Board Member of companies in the petroleum, textile, and technology industries.  He has extensive domestic and international experience in operations, strategic planning, financial management and business logistics.   Fadel holds a Bachelor Degree in Accounting and an MBA in Accountancy from the University of Oklahoma.  He is a Certified Business Manager (CBM).

Michael E. Epstein serves as Chief Financial Officer of the Corporation.  He is a Certified Public Accountant, with licenses to practice in Texas and Alabama.  A graduate of the University of Texas at Austin, Epstein has substantial experience as a small business owner and financial manager in a variety of industries in both the public and private sectors.

Domenick F. Riccio is the Chief Information Officer of the Company, with accountability for all technology related activities.  Riccio previously served as a Senior Manager at MCI, with additional experience gained through various roles at IBM Corporation.  Riccio oversaw the enhancements to the Company’s IT infrastructure during the past year and expanded Gila Corporation’s team of IT professionals during this process.

Bruce Cummings has been appointed Vice President of Marketing and Business Development.  Cummings has substantial expertise in driving sales growth, product innovation, business process reengineering and mergers and acquisitions.  Most recently, he served as CEO of Bluespan, Inc.  He holds an MBA from the Syracuse University and Bachelor of Science Degrees from the University of Arizona and the State University of New York at Fredonia.