Co-Founder
The Alta Group
“John Deane’s thought leadership has influenced and informed generations of leaders in the equipment leasing and finance industry. His opinions and insights have been relevant for decades and he has created a lasting legacy.” — Tom Wajnert, Chairman Emeritus, The Alta Group
While most equipment financiers “stumbled” into the industry, John Deane, with his long and distinguished career, has a particularly unique story. After obtaining his MBA, he was in a training class for commercial banking at Marine National Exchange Bank. The course was designed to have trainees look at new lines of business for the bank. Deane, quite literally, pulled “equipment leasing” out of a
hat and dove in to learn more.
Soon, Deane was working with Equilease, which had partnered with Marine National Exchange Bank to develop a leasing program, and was granted runway to begin building as he explored the industry. “I like to build things. I was allowed to do that at a very young age,” Deane says. “I had an open field in front of me that I could go out and do something with, and that’s what got me the most excited.”
BUILDING AN EQUIPMENT FINANCE CAREER
That ‘open field’ of opportunity launched Deane into an extensive career of founding and leading equipment finance companies. Deane took a particularly large leap in the industry when he co-founded Marinebanc Leasing in 1971. He founded Nevada National Leasing in 1974 and served as its president until its sale in 1983 to Great Western Leasing. When Great Western was sold in 1989 to Citicorp, Deane became president of BancOne Leasing.
In 1992, Deane served as a principal in the firm of Amembal, Deane & Associates, where he provided training, educational and consulting services for the equipment finance industry. In 1997, Deane co-founded The Alta Group with industry pioneers Norm Chapman, John Giddens and Bill Montgomery.
Later, Deane found he wanted to stay in the industry, but not as a practitioner. At that time, Deane and his partners realized the need for an equipment finance-focused management consulting firm, so they closed that gap together. Deane attributes their success to the strength, experience and character of their colleagues, as well as their ability to provide valuable industry information and advice.
Deane retired as CEO of The Alta Group in December 2020 but remains active in the industry as an outside director of GreatAmerica Financial Services.
THRIVING IN AN EXCITING BUT CHALLENGING SPACE
Getting multiple businesses off the ground was no easy feat, especially when Deane and his partners had to define why leasing was different and even superior to traditional equipment finance. Deane says that it was challenging to remain competitive amid the many changes driving the industry forward. However, as he gained more experience, the process became easier. “It was rare for me to make the same mistake twice,” Deane says.
The industry is constantly changing, which Deane describes as exciting but challenging. Working within the Equipment Leasing and Finance Association (ELFA) has been one of his favorite activities. Being in a room filled with bright individuals discussing the industry’s future, challenges, opportunities and strategies for addressing them brings Deane immense happiness and excitement, ultimately keeping him committed to the industry.
EVOLVING WITH EQUIPMENT FINANCE
Having embarked on his first equipment finance endeavor in the 1970s, Deane has witnessed many significant changes. He notes that the rate of change has slowed over time. He recalls a key takeaway from a session he attended years ago about how leaders can influence the lifecycle curve of their organizations.
“The session moderator explained that companies start out as infants and some end up in their dotage,” Deane says. “But he argued that, through effective and proper management, you can actually move away from that old age — certainly not back to infancy, but to somewhere in the ‘middle years.’”
Deane is thrilled to see that the industry has shifted towards more diversity, particularly with an increased number of women in leadership and upper management positions.
When it comes to the legacy that Deane wants to leave in equipment finance, he hopes to be known for making major contributions to the industry, the ELFA and The Alta Group. Particularly, he hopes to be remembered for contributing a level of professionalism and honesty that fueled the industry’s continued success.
“One of the greatest hallmarks of the industry has been its ability to adapt to never-ending changes in the market,” Deane says. “Future pioneers will keep this tradition alive and well by leading solutions that contribute to the health and growth of the industry.” •
