2024 Pioneer Icon: Sudhir Amembal — Education at the Core of Equipment Leasing

by Ava Pastore Sept/Oct 2024
At the core of Sudhir Amembal’s equipment leasing journey, from creating seminars and spearheading lease consultancy engagements around the globe, to writing over a dozen educational books, is a deep commitment to education and training.
Sudhir Amembal
Chairman and CEO
Amembal & Halladay

“Sudhir has shaped our industry for over 40 years, educating its pioneers and now inspiring new generations. I’m honored to be affiliated with such a visionary and proud to call him a dear friend.” — Bob Rinaldi, President, Rinaldi Advisory Services.

Referred to by many as “the father of equipment leasing,” Sudhir Amembal has spearheaded lease consultancy engagements conducted on behalf of more than 20 governments, including China, Indonesia, Korea and Russia, where he reviewed the leasing industries and provided strategic recommendations to facilitate their growth.

Amembal has been a keynote speaker at various domestic and international conferences and conventions and has co-authored 18 books on leasing, many of which are still referenced today.

EQUIPMENT LEASING FROM THE GROUND UP
Amembal’s career has been dynamic and impressive. After leaving India in 1969 to pursue his MBA at the University of Utah, he gained experience in public accountancy with Ernst and Young in New York and obtained a CPA certificate, which he considers the “springboard” of his career.

After returning to the university as a financial analyst, he was offered a part-time teaching position in accounting at the College of Business, which soon transitioned into a full-time role. However, when the university required him to obtain a Ph.D., Amembal decided to leave, knowing he did not want to pursue an advanced degree that he describes as a “union card.”

Free to explore a new path, Amembal and a fellow faculty member in the same position began to brainstorm their next steps. The two soon discovered a gap in the leasing world: no one was teaching a seminar for lessors in the commercial space. In 1978, the two created the first commercial course for lessors. Although their first seminar only had eight attendees (four of which were planted),

Amembal’s firm would come to train more than 80,000 professionals. Amembal was able to transfer his practice outside of the U.S., teaching courses around the globe. Through his extensive and
international experiences, Amembal says his most exciting venture was chairing the annual World Leasing Conventions from 1993 to 2013.

“I’m grateful that I have been able to contribute to the growth of leasing on a global basis and even introduce many of the best practices still in effect today,” Amembal says.

TAKING THE RISKS, OVERCOMING THE SKEPTICISM
Making as much progress as Amembal did in an industry with little traction required passion and skill for overcoming setbacks. Amembal initially plunged into teaching leasing without knowing much about it. His inspiration for taking this “leap of faith” was his desire to fill the educational gap. Amembal considers teaching to be eternally rewarding, as it enhances students’ careers and equips them with new skills.

“Knowing how much that helps the students has brought me an incredible amount of joy and pleasure,” Amembal says. “More than an accomplishment, that feeling is one of continuous satisfaction within my career.”

Many accolades have come Amembal’s way, including induction into the Equipment Leasing and Finance Association’s Hall of Fame, nomination by Monitor as MVP Behind the Scenes and being the first honorary CLFP recipient by the Certified Lease & Finance Professional Foundation.

Amembal’s approach to dealing with skepticism is to genuinely consider the opinions of others, whether they are positive or negative. He offers this personal insight and advice to those faced with criticism: “If they make sense, then you reassess. If they don’t, you evaluate: ‘Is there a different path I can take?’ If there’s nothing else, you continue on your initial path.”

THE FUTURE OF PIONEERING
Pioneering tactics and industry practices have changed — and will continue to change — with the evolution of technology. Amembal believes there is much to learn from the past as we look ahead; therefore, he encourages today’s pioneers to reflect on history before venturing too far into the future. In this context, he hopes the FMV lease, which he refers to as “the only true lease,” will resurface once again, as it was previously commonly offered.

EXPANDING THE EDUCATIONAL PATH
In the future, Amembal hopes to see more meaningful education emerge for equipment finance. He hopes to play a significant part in this education, noting that industry practitioners still read his books and utilize the materials he disseminated in the classroom. He hopes his four and a half decades of time, energy and service given to the industry will continue to be beneficial to others, and that his teaching will influence and inspire those who are newly embarking on or expanding their equipment finance careers. •

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