Article Archive — Company/Executive Profiles
New Appointment at CapitalSource
Corporate Asset Finance Ushers in the Next Generation of Industry Leadership
When the industry learned of Laird Boulden’s promotion to president of CapitalSource at the end of October, the logical question arose: who will succeed him to lead the company’s equipment finance operations? According to Boulden, the appointment of Maureen Carr to his former position goes way beyond the naming of a suitable replacement…
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TAB Bank Launches Equipment Leasing Unit With Coon at the Helm
A Natural Fit...
Bringing the right pieces together for any new venture can be risky and difficult. But for TAB Bank, which already has experience funding equipment leasing transactions, putting together a new Leasing Division with Mike Coon as head of the unit was a natural fit for TAB’s already established commercial lending portfolio.
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PNC Equipment Finance’s Rich Doherty Says There’s Still Room for Growth
It’s no secret that the past three or four years have been a struggle for many equipment finance companies and their customers. Economic indicators remain unsteady, and the U.S. stock market bounces up and down almost daily. It’s no wonder that we’ve taken note of PNC Equipment Finance’s steady rise to the top within the same time frame.
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Even in a Downturn, De Lage Landen ‘Stays the Course’ With Long-Term Strategy
A Conversation With William Stephenson, Chairman, De Lage Landen Global Vendor Finance
In January of this year, Monitor readers found out that William Stephenson was appointed to lead De Lage Landen’s Global Vendor Finance (GVF) group. Recently, the company released impressive results for the first half of this year. We reached out to Stephenson, a 25-year veteran of the company, to learn more about his group’s performance and its approach to the market.
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CapStar Commercial Finance: At the Heart of Palm
A banking newcomer, CapStar Bank is now in a position to diversify into the equipment financing space and has turned to former GMAC Commercial Finance execs Lee Palm and Brian Shapiro to create CapStar Commercial Finance. In a cycle that he sees as favorable for emerging equipment finance units, Palm is building a team and focusing on the core values of credit, credit discipline, underwriting and deal structures.
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Pawnee Leasing
Broker Centric & Bullish on the Future
Making Pawnee Leasing Corporation unique in the equipment leasing industry is its exclusive use of brokers for all originations. Even in an era in which others have abandoned the use of brokers, Pawnee unwaveringly adheres to its business model using the broker channel and prides itself in its broker support and training.
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Arvest Equipment Finance
Sales-Oriented Culture Promotes Success
In business for a little more than four years, Arvest Equipment Finance has seen steady growth, even through a brutal economic downturn. With 2010 assets up $10.5 million, or 16.1% from 2009, the company has entered the Monitor 100 rankings at #96. Behind this success is Kyle W. Gilliam, president and CEO, and his team based in Fort Smith, AR.
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AIG Commercial Asset Finance
New Name, New Direction
In April 2011, AIG announced that its Commercial Equipment Finance unit was changing its name and market strategy, and AIG Commercial Asset Finance was born. Well-versed in turning change into success, industry notables William G. Farrell, Jr., president and CEO, and Dave B. Fate, EVP and chief operating officer, are leading the charge, as the unit has added real estate financing, divested AIG Rail Services and is now focusing on investment grade originations.
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First Niagara Leasing
Becoming a Force To Be Reckoned With
How do you transform a non-descript small-ticket leasing company whose business is sourced primarily through the broker channel into a burgeoning regional operation in 14 states focused on the middle market in two years’ time? We asked industry veteran Edward Perkowski, who heads First Niagara Leasing, and we found out that like its famous namesake, First Niagara Leasing is rapidly becoming a force to be reckoned with.
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Western Alliance Equipment Finance
Exceeding Growth By Sticking to the Basics
Western Alliance Equipment Finance has entered the Monitor 100 at #73 in style — boasting 101% asset growth and 55% volume growth in 2010. On a steady role since 2008 when Michael Brown, president and CEO, joined the company to lead the division, Western Alliance EF is poised to continue meeting its growth goals by sticking to the basics — offering a quality product with a personal touch.
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De Lage Landen’s Slaats Discusses 2010 Performance, Global Vendor Finance
In March 2011, De Lage Landen reported an impressive 79% increase in 2010 year-over-year net profit as compared to 2009. The Monitor sat down with CEO Ronald Slaats to discuss the company’s extraordinary performance, the vendor finance business on the global front as well as his thoughts on the current conditions in the U.S. market.
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EverBank Commercial Finance Forms Lender Finance Group
The Monitor spent time with EverBank Commercial Finance’s chief operating officer Jeff Hilzinger and David D’Antonio, the recently appointed managing director of EverBank’s new lender finance unit. While the initial focus will be on equipment and specialty finance companies, both executives affirm this is the first of many undertakings EverBank Commercial Finance will take on in funding commercial finance companies.
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NewStar Equipment Finance
NewStar Equipment Finance Emerges on the Horizon
Late last year, Tim Conway, NewStar Financial’s chairman & CEO, told ABF Journal readers that the launch of its new ABL business signified the Boston-based specialty finance company’s intention to broaden its offering and build its product set in areas synergistic to its existing client base. The formation of NewStar Equipment Finance confirms the fact the Conway isn’t messing around…
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SunTrust Equipment Finance & Leasing
With Cautious Optimism Prevailing in the Industry, SunTrust Sees Client Service, Diversification as Ways to Continue Expansion
Six months after taking over the reigns at SunTrust Equipment Finance & Leasing as president, Ken Turner is geared to expand the bank subsidiary by diversifying its balance sheet, optimizing the company’s business mix and growing its market share.
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Nations Equipment Finance
For the Thrill of the Launch, Industry Veterans Meet Again
The equipment finance industry took notice when industry veterans Phil Carlson and Tom Fanelli announced the formation of Nations Equipment Finance only weeks ago. What compels the two to create a new venture once again? Maybe it’s something like the thrill of the launch and, of course, to seize some big opportunities.
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Fountain Partners
The Instant Proposal — Qualifying & Pricing Your Prospects Online
To wrap up the year, the Monitor asked Fountain Partners’ founder Tom Carter to share both the genesis and the intricacies of the San Francisco-based funding source’s Instant Proposal Service. For Carter and his team, it’s all about giving brokers and lessees what they’ve always wanted…
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Volvo Financial Services
Ramping Up for a Rebound
With recently passed tax incentives in capital equipment, new emissions standards ready to take effect at the end of 2010 and one of the oldest U.S. truck fleets on record nearing a necessary replacement cycle, Martin Weissburg, the president and CEO of Volvo Financial Services, thinks the future is looking bright for the American trucking sector.
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First Financial Corporate Services Launches Materials Handling Solutions to Serve the Underserved
Take one materials handling finance professional with nearly 30 years experience under his belt, one ten-year old equipment leasing company and a healthy portfolio of forklifts, and you come up with something new … something like First Financial Corporate Services’ Materials Handling Solutions.
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IBM Global Financing
New Leader Seeks Ways to ‘Enable’ Success
As IBM Corporation prepares to celebrate its first century next year, a veteran leader who has just taken the helm of the company’s financing arm, managing $35 billion in assets, shares his plans to keep IBM Global Financing (IGF) the “enabler” of success — for both its clients and its parent.
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Huntington Equipment Finance
New Leader Sees ‘A Very Bright Future’
Earlier this year, Huntington Bank made headlines in the financial press by delivering impressive 2010 first-quarter earnings after facing what some have called a “near death experience” in 2009. The Monitor took notice when industry veteran Rick Remiker was named president of Huntington Equipment Finance Group, charged with the task of taking the group to the next level.
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Eastern Funding
Forging Successful Relationships Backed by Hard Work, Smart Lending
For Michael Fanger, founder and president of Eastern Funding, LLC, the success of his commercial finance company during the past 13 years is as much a result of the relationships he has built during his career as it is hard work and smart lending.
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Regions Equipment Finance
‘Indispensable Partner’ to Its Parent Bank
For equipment industry veteran Bill Fite, the decision to join Regions Equipment Finance Co. (REFCO), a wholly owned subsidiary of Regions Bank, in February as EVP and head of the unit was an easy one. With a 16-state footprint, and a leadership and mission that Fite was drawn to, he now leads a unit poised to work more in tandem with its parent to not only increase market share but also to offer expanded services to its customers.
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Daimler Truck Financial
A Captive ‘On a Mission’
Juergen Rochert has a clear sense of purpose and, as he puts it, he and his team at Daimler Truck Financial are “there in the tough times” doing what’s right by the dealers and customers his team serves. Rochert’s career has spanned nearly three decades and covered two continents in a variety of positions, and he recently took his place as a member of the executive leadership team
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Financial Pacific Leasing
Turning a Profit in Tough Times
Paul Menzel, CEO of Financial Pacific Leasing, is no stranger to tough times. But with strict adherence to pricing for risk and solid funding relationships, Menzel sees Financial Pacific poised to take advantage of promising growth opportunities both today and tomorrow.
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CapitalSource Corporate Asset Finance
‘The Right Place at the Right Time,’ Boulden Says
Once again the industry took notice when in the final days of 2009, CapitalSource announced that 30-year leasing veteran Laird Boulden would launch the company’s new corporate asset finance division. Less than two months into the endeavor, the Monitor spoke with Boulden about his vision for the new venture, his departure from Tygris and the rationale behind the bold initiative.
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Commonwealth Capital
How a Niche Player Makes the Best of Today’s Opportunities
The story of Commonwealth Capital Corp. is one of a 32-year evolution. As an income fund offering lucrative investment opportunities to qualified investors on one hand, and a consistent source of funds to the industry on the other, the company’s story is an extraordinary one.
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TD Equipment Finance
Increasing Franchise Value ‘On All Fronts’
Anthony Sasso is upbeat about the future. And these days, that’s saying a lot. As the leader of TD Equipment Finance, he shares his outlook for the equipment leasing industry as a whole and where his operation fits inside of the TD Bank franchise. Armed with a customer-centric culture, committed leadership and a strong team of professionals, Sasso finds it somewhat difficult to contain his enthusiasm.
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The ‘New’ PNC Equipment Finance — A Year in the Making
Focusing on Today With a Keen Eye on Tomorrow
In a formal announcement on November 6, the equipment finance units of National City and The PNC Financial Services Group were joined together under one name as PNC Equipment Finance; and who better to lead the new unit than Vince Rinaldi, who 25 years ago founded the tiny firm that today is among the top-five largest bank leasing companies in the nation.
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First American Equipment Finance
An Unlikely Lessor 'Does Right' By His Customers
First American Equipment Finance founder and CEO Bill Verhelle gave up a promising career in law to follow a passion for entrepreneurship. Nearly 15 years later, his company, First American Equipment Finance, is successfully riding out the recession and continuing to realize double-digit growth while taking the time to give back to the community. At the same time, Verhelle and his company seek to “do right” for their customers and work toward the greater good.
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Wells Fargo Financial Leasing
An Acquisition & Internal Restructuring Bring Reese to the Helm
In 2002, Tim Reese and three colleagues started Greater Bay Capital in a furnitureless office with a handful of salespeople. Five years later, when Wells Fargo scooped it up as part of its acquisition of Greater Bay Bancorp, the company was doing in excess of $200 million in business a year and its tiny staff had grown to 60 employees. Reese now leads 400 employees as head of Wells Fargo Financial Leasing, and he’ll tell you he feels pretty lucky.
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SL Financial Services
Growth Through Selectivity
Since its launch in 2000 with a staff of four, Connecticut-based SL Financial — a subsidiary of Germany’s Landesbank Baden-Württemberg — has grown its staff five-fold, opened offices both north and south of the U.S. border, and broke half-a-billion dollars in managed assets. In recognition of its debut on the Monitor 100, we asked CEO Klaus Knuth to tell us how the company did it.
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Huntington Bank Equipment Finance
Keeping It Simple
For Robert Allanson, president of Huntington Bank Equipment Finance, it’s all about simplicity, stability and longevity. And that comes from working with a core group of associates for more than 20 years and focusing on the things that matter in the equipment finance business.
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SG Equipment Finance USA
Financing the Real Economy
Pascal Bouillon, CEO of SG Equipment Finance USA, finds himself on his third U.S. assignment — this time at the helm of the business he was instrumental in creating in 2006. Just having completed its first full year of U.S. operation, Bouillon shares the French banking giant’s rationale for entering the U.S. leasing market.
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Banc of America Leasing
Active on All Fronts
For finance industry stalwart Bank of America, 2008 was a year of big ups, and equally dramatic downs. In the wake of a financial crisis that turned the U.S. banking industry on its head, Banc of America Leasing managed to book more than $10 billion in new business volume last year and move up a notch on the Monitor 100.
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Main Street National Bank
Patience, Innovation & Courage: Proven Virtues at Main Street
Straightforward, industrious and self-assured are just a few of the first impressions one gets when speaking with Tom Depping, chairman and CEO of Main Street National Bank of Kingwood, TX.
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Financial Federal Demonstrates the Wisdom of Sticking to Its Knitting
While conventional thinking emphasizes the necessity of adaptation and change, once in a while a company comes along that seems to defy this commonly held belief. One such company is Financial Federal, which despite the meltdown in the financial services sector, illustrates the wisdom of maintaining a focus on what it does best.
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Molloy Associates & The Monitor
How an Executive Recruiting Firm Transforms Into a Multimedia Enterprise
In planning the Monitor’s 35th anniversary edition, it became evident that this issue wouldn’t be complete without input from our publisher, Jerry Parrotto. As is his style, Jerry rose to the challenge and reached back to his early days as an executive recruiter to bring clarity to the somewhat unusual evolution of a recruiting firm into a media company.
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Balboa Capital’s Silva Stresses Uncommon Effort, a Return to the Fundamentals
Balboa Capital’s new president Phil Silva loves the equipment leasing and finance industry. And that excitement is evident as we called on him to discuss his career, the company’s future and the state of the industry.
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Industry Execs Form Tygris Commercial Finance
Tygris Commercial Finance made headlines this May when the company launched with a $2.1 billion capital raise, the largest ever seen in the industry, from 90 individual investors. The Monitor spoke with five executives from the newly formed business regarding how they did it and what we can expect to see from Tygris in the future.
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Velocity Financial Group
Passion, Hard Work and Fun Keep IT Leasing Veterans ‘In the Game’
Without question, we live in times best characterized as rapidly changing — it could be said we live in an age of velocity. And, as most in our industry would acknowledge, the leasing world is no exception to this dynamic. It might not be surprising, therefore, that in the spring of 2007, a group of seasoned information technology (IT) leasing professionals announced the formation of a de novo independent leasing company named Velocity Financial Group.
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Sterling National Bank
A Parting Glance: Bob Krause Looks Back on a ‘Wonderful Ride’
As yet another equipment leasing and financing veteran heads into retirement, the Monitor caught up with Bob Krause one last time to get an overview of his career, what’s kept him in the industry and what he sees on the horizon
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M&I Equipment Finance — Relationship Leasing
M&I Equipment Finance and President Tim Bruckner cater to customers’ needs for the long haul.
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BB&T Equipment Finance: The Road to Reinvention
In February of this year, BB&T announced that Tom Jaschik would succeed Joel Rutledge as president of BB&T Equipment Finance. In the following, Jaschik shares his vision for the future.
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Capital One Equipment Leasing & Finance
A New Name, But Still Going Strong
Two years after his company was picked up by Capital One as part of its North Fork acquisition, All Point Capital’s president, Walter Rabin, discusses how things have changed.
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CoActiv Capital Partners: Getting to the Same Place
With Marubeni’s acquisition of Partners Equity Capital, longtime partners Steve Grosso and Don Campbell find themselves at the helm of a leasing powerhouse — CoActiv Capital Partners.
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1st Source Specialty Finance: Strength in Niches
1st Source Specialty Finance’s President Allen Qualey sees specialization as the key to weathering the ups & downs.
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Alter Moneta: Ten Years & Counting
Alter Moneta’s CEO Alain Savard & General Manager Mark Lempko discuss the company’s continued expansion as it celebrates its tenth anniversary.
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De Lage Landen Financial Services: A Man of the World
Marc Cootjans, Group COO of De Lage Landen Financial Services reflects on his first year in the United States.
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AIG Equipment Finance
Laying the Groundwork With an Eye on the Future
William G. Farrell Jr., President and CEO of AIG Commercial Equipment Finance, is no stranger to launching equipment leasing companies from the ground up.
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The Medallion Financial Story
Riches From Niches
Seventy years ago, a Polish immigrant named Leon Murstein bought a single taxicab and started the company that would become Medallion Financial. Today, with nearly $1 billion worth of loans under its belt, this family business is still about making dreams come true one taxicab at a time.
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Sticking to Priorities at Priority Leasing
Balancing Fast Growth With the Need to Satisfy Customers
After ten years in business, Priority Leasing understands that being number one means its customers always come first. Named by Inc. magazine as one of the 500 fastest growing U.S. companies, one can’t argue with its apparent success. In this month’s Profile of Success, Bob Glendon tells it like it is…
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Warner ‘Takes the Reins’ at Key Equipment Finance
A Conversation With Adam Warner, President
How does an executive take the reins at a well functioning and highly structured global equipment finance company and bring it to the next level? Recently, the Monitor sat down with Adam Warner, president at Key Equipment Finance, to discuss his pathway to success, his vision for the organization as well as his thoughts on the industry. Thoughtful in offering his view on various issues, he nonetheless had a great deal to say…
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Putting the ‘Attitude’ in Latitude Equipment Leasing
New Venture Focuses on Customer Relationships First, Closing Deals Second
In the world of commercial finance, bigger is not always better. Just ask Mike Bennie and Gary Kester; the two former Marlin Leasing executives recently launched Latitude Equipment Leasing, a five-person shop based in Marlton, NJ.
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U.S. Bancorp Specialty Finance
Specialization Inspires Increase in Customer Service, Future Growth
In October 2006, U.S. Bancorp announced it was combining five of its units into a Specialty Finance Division, providing increased and specialized service to its customers in those sectors. Sal Maglietta was appointed to run the division, which includes equipment finance, asset-based lending, healthcare banking, energy and food/agriculture banking.
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Industry Veteran to Lead U.S. Bank Equipment Finance
Anthony Cracchiolo President, U.S. Bank Equipment Finance After 29 years at Citigroup, where he ran a series of leasing businesses in healthcare, electronics, energy, office equipment, technology and tax-exempt segments, Anthony “Tony” Cracchiolo joined U.S. Bank as president of its Equipment Finance Unit, succeeding Sal Maglietta, who was promoted to head of U.S. Bank’s Specialty [...]
Read more...Date Posted October 1, 2007
MagnetBank Opportunities Attract Industry Veteran
With more than 28 years on the institutional side of the equipment finance and leasing business, industry veteran Bill Fite has switched gears. In June, he was hired by MagnetBank, a de novo Utah-chartered commercial bank focused exclusively on commercial lending, to establish a national equipment finance group.
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Siemens Financial Services
Using Multi-Tier Relationships to Build Bridges of Success
A Conversation With Roland Chalons-Browne, President
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Prudential Buys GMAC’s Equipment Finance Division
Suddenly, A New Force in the Equipment Leasing Industry
On February 28, Prudential Capital Group, an investment business of Prudential Financial, completed its acquisition of General Motors Acceptance Corporation’s Equipment Finance Division. The acquisition allowed Prudential Capital to enter an asset class that it had identified as a target for growth. Prudential instantly became a force in equipment finance and leasing.
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BancorpSouth Equipment Finance
Strong Traction With Customers & Industry Cycles Perpetuates Growth
A Conversation With Elaine Temple, President
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Pentech Financial Services
Capitalizing on 30 Years of Industry Experience and Still Growing
A Conversation With Benjamin Millerbis, Founder & CEO
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Sunbridge Capital
The Power of Reinvention — Former Captive Team Forms Independent
A Conversation With Adrian Weber, President & CEO
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Willis Lease Finance
From the Inside Out — A Unique Perspective in Aviation Lending
A Conversation With Charles F. Willis IV, President & CEO
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ICON Capital Corporation
Unfettered Capital & Passion ‘Keep the Creative Juices Flowing’
A Conversation With Thomas W. Martin, President & CEO
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Wachovia Equipment Finance
Two Sets of Eyes — A Creative Approach to a Changing Market
A Conversation With Mark Trollinger (left) and Spence Hamrick, Co-Heads
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Life as a Captive
A Consistent Approach Yields Steady & Profitable Growth
Volvo Financial Services’ Martin Weissburg provides Monitor readers a captive’s perspective on business development and a look ahead at what’s coming in the future. In considering cyclical industries such as trucking and construction, he concludes that consistency of approach helps to ensure a customer’s trust and loyalty.
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ADP Commercial Leasing
Expansion of Territory & Services Drives Company Growth
A Conversation With Anthony Pacchiano, VP & General Manager
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Wells Fargo Financial Leasing
A Simple Philosophy More Than Pays Off
A Conversation With Mark S. Merkel, President
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Fifth Third Leasing
A Recurring Theme — It’s All About Execution
A Conversation With David A. Merrill, SVP/Director of Commercial Leasing
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Sterling Bank Leasing
Not About the Rate Game — Holding Firm to Established Beliefs
A Conversation With Andrew Corsi, SVP & Manager of Leasing
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De Lage Landen Walks the Global Talk
Healthcare Business Unit President Offers Insight Into Firm’s Approach
What does it mean to be a “market-oriented” company in our industry? Steve Riggs, who heads up De Lage Landen’s Healthcare Business Unit, and is responsible for global marketing, shares some excerpts from his diary. We hear, in his own words, how this leading vendor finance specialist is truly walking the customer-focused talk.
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CSI Leasing
A One-Stop Shop Providing Cradle-to-Grave Service
A Conversation With Kenneth B. Steinback, Chairman & CEO
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Wells Fargo Foothill Lender Finance
Managing a Balancing Act Gracefully
While discussing Wells Fargo Foothill Lender Finance with Andrea Petro, she notes the key to being successful is to walk a fine line between going too far in transactions while also maintaining a healthy portfolio. As executive vice president and division manager, she and her team work hard to maintain that balancing act.
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Smart Execution, Good Customer Relationships: Keeping Enterprise Funding Ahead of the Curve
Good business ideas need good execution, and that often happens when people come together from disparate places. For Grand Rapids, MI-based Enterprise Funding Group, the quality of the idea has really taken off since the right person came along to enhance its execution.
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Specialization, Internal Partnership Keep Chase Equipment Leasing on Path to Success
No one thought, least of all Martin Cox more than 30 years ago, that he would be “bridging the divide” so to speak, between banking and equipment leasing — and successfully — at JPMorgan Chase. But bridge it he has, with an important focus on company-wide clients, internal communication and partnering, establishing a strong workforce and playing to each division’s strengths.
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