Key Personnel Moves, Leasing Fraud Scheme, Closing EF Departments and More: Top 10 Monitor News Stories in 2024

Of the nearly 3,000 news stories posted to www.www.www.monitordaily.com in 2024, these are the top 10 in order of reader popularity:

1. Orion First Promotes Marcoe to COO: Orion First promoted Paul Marcoe to chief operating officer. Marcoe has played an integral role at Orion for over eight years. In his new role, Marcoe will oversee the day-to-day operations of the company, ensuring continued excellence in service delivery and operational efficiency.
2. JPMorgan Chase Announces Multiple Executive Leadership Changes: JPMorgan Chase promoted Jennifer Piepszak and Troy Rohrbaugh to co-CEOs of its expanded commercial and investment bank, which will bring together wholesale businesses of global investment banking, commercial banking, corporate banking as well as markets, securities services and global payments.
3. China Eastern Airlines Receives First of 100-Aircraft Order: The first aircraft of an additional order of 100 C919 jets placed by China Eastern Airlines last year was delivered, bearing flight number B-919G, as the Chinese-developed jetliner recently marked its one year of commercial operations.
4. U.S. Attorney’s Office Announces Second Guilty Plea Related to Multi-Million Dollar Commercial Leasing Fraud Scheme: The U.S. Attorneys’ Office for the Eastern District of North Carolina announced that Armando Binelo of Pigeon Forge, TN, pled guilty for his role in a $20 million leasing fraud scheme.
5. First Foundation Bank Shutters Equipment Finance Department: First Foundation Bank shut down its equipment finance department late last week, according to sources familiar with the matter.
6. Eastern Funding to Wind Down its Specialty Vehicles and Equipment Funding Group: Eastern Funding commenced with an orderly wind down of its specialty vehicles and equipment funding group to increase the company’s strategic focus on its core commercial financing solutions. All other company groups will remain unchanged.
7. Quality Equipment Finance Pauses Funding Transactions Internally: Quality Equipment Finance has stopped funding transactions internally for the time being, according to an email sent to referral partners.
8. In Memoriam – Richard Doherty: The Equipment Leasing and Finance Association issued a statement regarding the passing of long-time member and industry leader Richard Doherty, who passed away on Aug. 28, 2024.
9. Wintrust Commercial Finance Launches Commercial Dealer Services, Hires Group of Seasoned Professionals: Wintrust Commercial Finance created a new business group, Commercial Dealer Services, which will focus on delivering financial products to large franchised truck and trailer dealerships.
10. JA Mitsui Leasing Acquires Oakmont Capital Services: JA Mitsui Leasing, through its subsidiary, JA Mitsui Leasing USA, acquired a 100% interest in Oakmont Capital Services, a specialty finance company that delivers solutions for small-ticket equipment.