Phil Neuffer,
Senior Editor,
Monitor
Monitor is celebrating its 50th year as the leading publication in the equipment finance industry this year, and to commemorate the milestone, it held Converge, its 50th anniversary celebration, in Philadelphia in mid-June, attracting nearly 300 attendees. The two-day event featured an opening welcome reception on June 14, followed by a full-day conference designed to create the future of the equipment finance industry and an evening gala and awards ceremony on June 15.
“There is so much interesting information that links the past with the future opportunities for the equipment finance industry,” Bruce Kropschot, senior managing director at The Alta Group, says. “I have always depended on the Monitor for the best feel for what is going on in the equipment finance industry, and it continues to exceed my expectations.”
The full-day conference on Thursday opened with a keynote address from special guest John Hagel, a global speaker, futurist and best-selling author as well as the founder of Beyond Our Edge. Hagel discussed how to prepare for the future, touching on major themes such as change as a mindset, confronting and overcoming fear, and creating opportunities for innovation. Hagel emphasized a zoom out, zoom in approach to business strategy that resonated with attendees, eschewing the five-year plan model by arguing that businesses should forecast where they will be and whom their customers will be in 20 years before zooming back in to map out six-month initiatives to begin the process of getting there.
Hagel then moderated a panel with several industry leaders to identify fundamental issues in equipment finance and anticipate opportunities that can be leveraged today and tomorrow, such as artificial intelligence, new business models, cultural transformation and more. The panelists for the discussion included:
Inspired by Hagel’s opening remarks and the industry panel, attendees then participated in group discussions to identify the most important questions and insights they took away from the panel, categorizing them as “reminders,” “sparks,” “questions” or “puzzles.” After a break for refreshments, attendees took their pick of thought-starter breakout sessions facilitated by industry leaders to continue the discussion about what issues are impacting equipment finance and how to step into the future and think the unthinkable. The panel discussions included:
From there, in a feature unique to Converge, participants spent the afternoon in additional breakout sessions based on the major themes and topics that attendees themselves identified during the morning’s panels, sessions and discussions. These organically constructed breakout sessions touched on topics such as AI (a major talking point throughout the conference), green energy, pay-per-use models, subscription-based financing and more.
“Converge was a well-orchestrated interactive look into the future of the equipment finance industry. The workshop exercises, the variety of backgrounds and skills of the participants, the talented panelists and guest speakers, all contributed to a thoughtful and enjoyable day,” Scott Thacker, CEO of Ivory Consulting, says.
The day-long event wrapped up with a creative workshop led by Deborah Reuben, founder and CEO of TomorrowZone, and Susan Carol, CEO of Susan Carol Creative, who tasked attendees with stepping into the Monitor’s shoes and designing the cover of a potential 75th anniversary issue, complete with headlines outlining what participants expected to be at the forefront 25 years from now.
“By the end of Converge, my brain was on fire,” Reuben says. “Not only is my notebook filled with takeaways from the event itself, but I also have 14 pages of fresh ideas brainstormed during the flight home.”
Following a day of in-depth and engaging conversations about equipment finance’s future, Monitor hosted the crown jewel of Converge, its 50th Anniversary Gala & Awards Ceremony, which was held at the National Constitution Center in Philadelphia. In addition to a cocktail reception, plated dinner, tableside wine pairings and an open bar, attendees were treated to a fireside chat moderated by Steve Grosso, CEO of Auxilior Capital Partners, with special guest Brian Lee, co-founder and CEO of Arena Club, LegalZoom and The Honest Company, and founder of ShoeDazzle.com. Grosso and Lee covered a wealth of topics, including culture, hiring, taking risks, growth, innovation and, yes, AI.
“This was a first-class 50th anniversary event,” George Parker, CEO of VenSource Capital, says.
“We were honored to be a part of this very special event for Monitor,” Dave Fate, CEO of Stonebriar Commercial Finance, says.
The evening culminated in Monitor’s Converge Awards, a brand-new program to honor the legends who built equipment finance and the leaders who are making a memorable impact on the industry today. The award show featured 14 unique categories, with the winners — selected by a group of 25 notable industry leaders — listed below:
“The sessions, the award ceremony, the gala and the networking were all top notch. I’m so proud to be a part of this industry. Thank you Monitor, and cheers to your next 50-plus years,” Kirsten Hawkins, director of marketing at SCJ Commercial Financial Services, says. “Everything was perfect, from the interactive sessions to the opportunity to see old friends, celebrate Monitor’s success and enjoy a glamorous gala,” Carol says. “Kudos to the Monitor staff for 50 years and the hard work to pull off this fantastic event. You could feel how much the milestone meant to everyone. It’s going to be hard to wait another 50 years for the next one,” Kyin Lok, president and CEO of Dext Capital, says.
The Monitor team thanks each person who contributed to the success of Converge, including our speakers, panelists, attendees, staff and the 2023 Converge Award Committee, which included:
No categories available
No tags available
