David Beck, senior vice president of commercial leasing at Central Bank of St. Louis, has worked through more than a few economic cycles, so he knows what it takes to deal with immediate challenges while keeping focus on future growth.
David Beck, SVP of Commercial Leasing, Central Bank of St. Louis
Keeping an eye on the horizon has always been a part of David Beck’s approach. Beck took on the role of senior vice president of commercial leasing at Central Bank of St. Louis near the beginning of the COVID-19 pandemic in April 2020, and despite the tendency for many to focus on the short term due to the disruption caused by the crisis, Beck didn’t let his long-term vision fall through the cracks as he helped the bank deal with day-to-day challenges. Such a mindset is right in line with Central Bank of St. Louis’ own philosophy.
“We maintain a long-term outlook on the business and differentiate ourselves through elite customer service, quick feedback on transactions and taking a personal approach to credit,” Beck says.
Such a forward-looking perspective will serve Beck well in the coming months, as he believes there is pent-up demand for capital equipment that will contribute to Central Bank of St. Louis’ growth.
“Growth may be tempered by supply chain issues and new waves or mutations of COVID, but we believe companies must continue reinvesting in their businesses to be successful, which includes procuring new equipment,” Beck says.
As a company leader, Beck says he is most passionate about empowering his team members. During the pandemic, Beck has doubled down on being flexible, treating employees fairly and managing with empathy. From an external perspective, Beck puts a heavy emphasis on trust.
“For lessors, especially independents, access to liquidity and capital to fund transactions is essential to their business,” Beck says. “It is crucial for lessors to maintain trusted financing sources, like Central Bank, that will be there to support their short-term and long-term goals during both the peaks and valleys of economic cycles.”
Central Bank of St. Louis works on building that level of trust by financing leasing companies across the U.S. through non-recourse lease discounting, lines of credit and treasury management products, with the capability to finance most asset types and industries. As evidenced by its spot in the Monitor 101+, the bank has found success with its approach, but Beck will remain vigilant to keep moving forward.
Monitor recently caught up with Tom Slevin, founder and CEO, and Brian Dundon, SVP corporate development at First Financial Equipment Leasing ahead of their company’s acquisition of NorFund, an independent leasing company specializing in capital equipment, solar and alternative energy and vendor finance programs.