VGM Group Inc. has appointed James Phillips as its new chief operating officer. Phillips will report to VGM CEO Van G. Miller.

“Jim Phillips is well known to VGM. He started our leasing company in 1991, and I have great confidence in his ability to work well with all VGM divisions, and I and the other 400-plus VGM Associates look forward to his assuming his new role,” Miller said.

Phillips, who becomes COO effective Aug. 29, initially worked for VGM Leasing Inc., where he grew the leasing company until it was acquired by TCF, a large Minnesota-based banking and finance company. The TCF-owned medical equipment finance operations are still based at VGM’s Waterloo, Iowa headquarters and will remain there.

“I am very honored to be offered this opportunity to work with the entire company,” Phillips said. “Van’s vision excited me 16 years ago and I want to continue to grow the entire VGM organization.”

Prior to VGM, Jim Phillips worked at Chase Manhattan Leasing and Lease America Corp. He graduated with a bachelor’s degree in business administration and marketing from Loras College, Dubuque. Jim makes his home in Cedar Falls, Iowa with his wife, Ardith, and his children, Lindsay, Matthew, Kyle and Jack.