Bill Scuorzo graduated from the University of Scranton with a bachelor’s degree in marketing in 1999. After graduation, he went into the financial services industry. Since December 1999, Bill Scuorzo has worked as the president and CEO at BCG Advisors, an investment and holding company based in Secaucus, New Jersey.
A holding company is a company that owns another company or has a controlling stake in it. The owned company is often referred to as a subsidiary. Those that are 100 percent controlled and owned by the holding company are called wholly-owned subsidiaries.
A holding company doesn’t run the subsidiary’s daily operations. It mainly provides oversight and controls the business policies, while the management of the owned company is responsible for its profits and performance.
Holding companies are also legally protected from the losses and debts subsidiary companies accrue. In the event of the subsidiary’s bankruptcy, creditors cannot sue or ask the holding company to cover the damages.
In addition to owning companies, a holding company can hold a wide range of other assets, including real estate, stocks, and patents.
No comments:
Post a Comment