A report released by Gartner labels 2002 the "most difficult year" on record for the worldwide information technology services industry. The market for IT services actually declined when compared to 2001, falling 0.6 percent to $536 billion. This marked the first year the IT industry declined since this data has been tracked.

Consulting services, such as project management and development of new systems were hardest hit due to companies delaying ambitious technology undertakings. Most companies only continued with essential projects, such as upgrades of existing technology or integration projects with their current tech gear. The lone bright spot was outsourcing, which companies view as the best way to minimize costs when budgets are tight.

Only the Asia-Pacific and Japanese markets saw growth last year; but it leveled off by the year's end, reflecting the fact that all markets are reliant on a strong global economy. All other markets declined with Latin America hardest hit with a 7.2 percent revenue drop. North American services revenue fell 1.1 percent during the year.

Capital Business Credit: Michael Marsden was appointed vice president, Northeast and Mid-Atlantic.

CrestmarkBank: Tim R. Bruckner was introduced as vice president and regional manager working with the Chicago business development officer to further establish a regional loan office in the Chicago area.

Fleet Capital: Jay Linde was appointed senior vice president and senior business development officer for the company's Mid-Atlantic group; Suzanne Cozine has joined as vice president, portfolio manager; Nancy Donohue has joined as vice president.

GB Asset Advisors: Thomas Scotti was named director of GB Asset Advisors, LLC, the Gordon Brothers division that provides evaluations and asset appraisals.

GE Business Credit: Frederick H. Weesner was named vice president of origination for the Los Angeles and Orange County markets.

Orix Financial Services: Mark E. Tauber was promoted to national sales manager of the business credit group; Robert W. Merkle has joined as senior vice president, portfolio acquisitions; Giny E. Wallace has joined as financial analyst, portfolio acquisitions.

Porter Capital: Barry L. Morehead is now sales executive in the Southeastern sales division.

Presidential Financial: William Draxler has joined as executive vice president and president of the Georgia region; Jim Lehr has joined as senior vice president and chief financial officer; Raymond Alberti has joined as senior vice president.

Schneider National: Philip Morse has joined as vice president of Schneider Logistics Payment Services.

Siemens Financial Services: Gregg Simpson has joined as vice president and senior business development officer in the asset-based lending division.

Sterling National Bank: Edward (Ted) E. Poor was appointed senior vice president of the bank's asset-based lending division.

Transcap: Paul D. Schuldiner and John T. Marrinson have been named principals in the firm.

Wells Fargo Business Credit: Melody Stallings was promoted to vice president and business development manager for the national factoring division.