Axis Capital promoted Michael Karman to the newly created position of chief commercial officer.

Karman joined Axis Capital in 2014 and most recently served as the company’s president of Eastern Region Sales. Prior to joining Axis, he was senior vice president at Ascentium Capital, where he oversaw the origination of over $100 million in equipment financing. Previously, he also held various executive positions with New York-based Greystone and AT&T Capital.

“Michael is a 30-year industry veteran with an exceptional track record of success, including creating a number of equipment finance companies that exceeded $350 million in origination volume,” said Mostafiz ShahMohammed, Axis’ chairman and CEO. “His broad array of talents is invaluable for Axis, so of course we are thrilled to leverage more of his expertise in this important new role as we continue to expand the business.”

In his new role, Karman will be responsible for overseeing Axis’ planned expansion of national sales divisions and vendor-based relationships, exploring new market opportunities and contributing to the build-out of an industry-leading transaction management infrastructure. This new position is designed to bolster the current leadership team as the company executes strategic growth initiatives.

“I am honored to be appointed to this new position at Axis and eagerly look forward to continuing to focus on building a sustainable and scalable model for business growth,” said Karman.