Equipment financing leader Richard Barry was named president of Merchants Bank Equipment Finance (MBEF), according to Rodney R. Nelson, CEO of Merchants Financial Group (MFGI).

Barry started November 14, allowing him time to work alongside current MBEF President Brad Brolsma through the end of the year and learn first-hand about MBEF’s growing customer base. Brolsma is retiring December 31, after 14 years with MBEF.

Barry brings industry experience that includes nearly 20 years working in equipment finance with GE, TCF and, most recently, U.S. Bank.

“Rick has tremendous experience and connections in the equipment financing industry. We are excited he has joined our team and will be leading Merchants Bank Equipment Finance,” Nelson said. “We are very pleased that he will have some time to work with Brad to learn about our key customer relationships that we value so greatly.”

“MBEF has an excellent and growing reputation in our industry for providing smart and strategic answers to its customers,” Barry said. “I’m looking forward to working with the team Brad has put together and continue the growth with both new and existing customers through providing the best in service and solutions.”