Digicel’s David Butler appointed COO of Stellwagen Group
Acasta Enterprises Inc. has announced that it has appointed David Butler who served as CEO for Digicel Jamaica as its new Chief Operating Officer( COO) for its aviation operating company,Stellwagen Group.
The Stellwagen Group, based in Dublin, Ireland provides capital for aviation, shipping and defence corporations.
It was founded by Douglas Brennan back in 2012.
Last year Stellwagen was acquired by the Canadian firm Acasta Enterprises for a reported US$270 million and promised to pump US$100 million into the Irish financing group over the next five years.
In effect what Stellwagen does is lend money to airline companies to purchase airplanes with the debt secured against said aircraft.
Speaking on Butler’s appointment as COO, Brennan said in an issued press release : “David has an impressive track record of growing businesses. By positioning David to drive operations and focus on strategic opportunities, we will bring tremendous enhancements and efficiencies to the Group’s structure. From helping to streamline reporting lines to freeing up other team members for business development and client management, we view the addition of David as an invaluable growth catalyst.”
Butler will work alongside Stellwagen Capital’s newly appointed CEO Scott Corman.
David Butler has been a long standing Digicel CEO, serving in that capacity in Fiji, Panama and Jamaica. While in Jamaica he oversaw the introduction of LTE and Digicelplay’s cable TV offering.
Brennan continued : “We are extremely excited to assign Scott new leadership responsibilities and add David to the team at a time when the aviation sector’s demand for innovative financing solutions continues to increase alongside institutional investors’ appetite for alternative investments that offer stable yield and low correlation to traditional asset classes.
“Scott’s structured finance expertise and David’s innovative management practices position us to seize these sizable opportunities and solidify our strong position in the marketplace. They will also play key roles in accelerating our integration of the aviation advisory and asset management business we acquired from ECN Capital.”