AP Equipment Financing hired Alex Coveney as the executive vice president of its newly established fleet and mobility division. In addition to being tasked with developing value-added services throughout AP Equipment Financing’s portfolio, the division will also explore untapped segments for new growth opportunities.

Coveney joined AP Equipment Financing with more than 25 years of professional experience in building strategies, program development and management, including 22 years in the rental and leasing industry. After his first 19 years of business development at a global rental and leasing company, Coveney transitioned to business ownership, building and divesting a multimillion-dollar business. After his achievements in business ownership, Coveney re-entered the rental and leasing industry with a focus on innovation and program development for enterprise-level clients.

“I am incredibly excited to join the AP team and contribute to advancing AP’s brand and capabilities,” Coveney said. “AP’s strong leadership, entrepreneurial spirit and dedication to fostering an employee and client-focused culture reverberates within the company, resonates with customers and leaves a lasting impact on the industry. I look forward to building upon AP’s already strong brand and stellar reputation as we bring the new product offerings to market.”

“We are thrilled to welcome Alex Coveney as the executive vice president of the fleet and mobility division,” Chris Lerma, CLFP, president of AP Equipment Financing, said. “Alex’s experience and entrepreneurial prowess perfectly aligns with AP’s focus on innovation and creating new value-added programs for our entire clientele base. His leadership and ideas will contribute to our strategic growth and reinforce AP’s position within the industry.”

As the executive vice president at AP, Coveney will play a role in shaping strategic direction, driving portfolio expansion and overseeing the operational functions of the leasing and mobility business.

AP Equipment Financing actively manages a portfolio of over 13,000 contracts with more than $745 million in receivables.