Management Team


Newton Glassman

Chief Executive Officer

Mr. Glassman is the Executive Chairman and Chief Executive Officer of Callidus and is the Founder, Managing Partner and acts as Chief Executive Officer of Catalyst Capital Group Inc. (CCGI). He devotes all of his working time to CCGI, investment funds managed by CCGI and assets held by those investment funds. Mr. Glassman was formerly a director of FrontPoint Partners, LLC. He also serves, or has formerly served, as a director or senior officer of various CCGI portfolio companies, including Gateway Casinos & Entertainment Limited, Cable Satisfaction International Inc./Cabovisão, Natural Markets Restaurants Corp, and Therapure Biopharma Inc. Mr. Glassman was previously a Managing Director at Cerberus Capital Management LP where he was involved in several Canadian restructurings, including Loewen Inc., Livent Corporation of Canada, Inc., Philip Services Corporation, GST Telecommunications, Inc., Pacifica Papers, Inc. and AT&T Canada Inc. CCGI and funds managed by it have, since 2002, been involved in numerous distressed and/or under-valued situations. Mr. Glassman holds an M.B.A from the Wharton School of the University of Pennsylvania, a law degree from Faculty of Law, University of Toronto and an undergraduate degree from the University of Toronto.

James Riley


Mr. Riley is a Managing Director and Chief Operating Officer of Catalyst Capital Group Inc. (CCGI) and devotes all of his working time to CCGI and Callidus. Prior to joining CCGI in 2011, Mr. Riley was a Partner and Co-Chair of the Banking and Finance Law Group at Goodmans LLP. Prior to joining Goodmans LLP, Mr. Riley was a founding partner of the Toronto office of Ogilvy Renault (now Norton Rose Fulbright Canada) in 1996 and prior to that was a Partner at Stikeman Elliott LLP. Mr. Riley holds a master of law degree from Harvard University and a law degree from the Faculty of Law, University of Toronto.

David M. Reese

President and Chief Operating Officer

Prior to joining Callidus in June 2011, David spent nearly 30 years developing a strong operational and credit background by working and building business groups focused on asset-based lending, leveraged buyouts, and structured credit products. Over his career, he has been involved in arranging senior debt, mezzanine debt and equity in both the public and private markets spanning a broad range of industries. He has worked in both corporate and investment banking with Bankers Trust, Citibank, CIBC Wood Gundy, TD Securities, National Bank Financial and Securitus Capital, a structured credit boutique that he co-founded. David holds an MBA from the Richard Ivey School of Business at the University of Western Ontario and a BA in Biology from Queen's University.

Dan Nohdomi

Vice President, Chief Financial Officer

Dan Nohdomi joined Callidus as Vice President and Chief Financial Officer in February 2013. Prior to Callidus, Dan was CFO of Greypoint Capital, a private debt fund based in Toronto, which he assisted in launching and founding. Prior to Greypoint, Dan was the Corporate Treasurer of Western Forest Products, a publicly traded, Brookfield Asset Management portfolio company, operating in the coastal region of British Columbia. Prior to Western, Dan was a part of Brookfield’s Special Situations and Specialty Funds Group, where he was involved in distressed lending and investing across a variety of sectors. Dan was also a member of the Brookfield Corporate Deal Team, and was involved in a number of transactions including the recapitalization of Babcock and Brown Infrastructure (now Prime Infrastructure), and in several other infrastructure transactions. Prior to Brookfield, he was a member of the diligence and valuation team at American Capital Strategies, a publicly traded, mezzanine buyout fund, headquartered in Washington DC. Dan is a Chartered Accountant, having articled with PwC in Vancouver, BC, and graduated with an MBA from Cornell University and BA from Trinity Western University.

James (“Jay”) Rogers

Chief Credit Officer

Jay joined Callidus in August 2016.  Prior to Callidus he was a Managing Director at Cerberus Capital Management, L.P. and its finance company Cerberus Business Finance L.L.C., which specializes in distressed lending.  Prior to Cerberus, Jay was a Senior Analyst and Portfolio Manager at Fursa Alternative Strategies; Vice President, Special Situations Group at GE Capital; and a restructuring Consultant at LoftusGroup LLC.  Jay holds an MBA from Georgetown University and a BA from the University of Colorado. 

Transaction Highlight

US Acquisition US $72,500,000 Financing Deal for an Oil and Gas Services Company

Callidus provided the purchasers of a U.S. based oil and gas services company ("Serviceco") with an operating line of credit of US $12,500,000 (secured by working capital assets) and a term loan of US $60,000,000 (secured by machinery and equipment). The proceeds were used by our client to assist with purchase of the shares of Serviceco, and fund ongoing working capital so the business could realize Serviceco's turnaround.

Serviceco had a successful history of operating and financial performance. However, a decision by the prior owners to reposition its service fleet caused a decline in performance as utilization dropped during the transition period. This decline in performance meant the existing senior bank lender was not prepared to support the new owners looking to acquire the business.

The company had already proceeded with another lender for financing the acquisition; however, this lender could not close the transaction. The buyers of Serviceco approached Callidus to determine if we could step in and provide the acquisition financing.

The Serviceco buyers required a lender which was comfortable with leveraging the assets of the company, and had the insight to understand what caused the downturn in the performance of the company, and see the turnaround. Callidus stepped in and closed the financing in seven weeks. As the company wanted a committed financing facility for two years, Callidus was able to structure financial covenants that fit with the company's forecast. Callidus was able to offer a principal repayment holiday on the term loan to take the pressure off the company's cash flow allowing the new owners to focus on the operations of the business following their purchase. Principal repayments on the term loan were tied to the depreciable life of the equipment, affording additional relief to Serviceco's annual debt repayment obligations. Serviceco's CFO affirms, "Callidus was able to structure a financing program catered to our needs - something that no other lender could do. The responsiveness with which Callidus put together the financing program meant that we didn't skip a beat in our acquisition plans."