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.... read more
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.... read more
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.... read more
While some assets depreciate, others do not. Tom Toton of Corcentric (formerly AmeriQuest Business Services) explains why it makes more sense to add to your sales team and become asset light rather than putting equity into depreciable assets.
As the demand to ship goods continues to increase, fleet operators need to take a hard look at how they are procuring and replacing equipment. Brian Holland of Fleet Advantage argues for more efficient practices, which includes shorter lifecycle management.