EverBank announced several new senior management appointments and strategic organizational changes for its Commercial Division.
Douglas Misner was appointed national commercial leader. He will have national sales responsibility for commercial real estate, equipment finance and asset based lending. He joined EverBank from GE Capital and has more than 25 years of sales and leadership experience in commercial finance, capital markets and business development.
Reporting to Misner will be the sales leaders for the business verticals, including Mike Sweeney, for vendor equipment finance and Ken Walters, for asset-based lending and structured equipment finance. In addition, John Randall in his current role will continue to report to Misner as will capital markets across the Commercial Division.
In addition to Misner’s appointment, Joseph Inferrera was appointed operations leader. Inferrera’s group will span operations, loan closing, asset valuations, re-marketing and customer service across EverBank’s commercial businesses. The group will focus on facilitating internal collaboration and driving simplicity through systems, processes and tools to improve productivity and efficiency across the Commercial Division. Inferrera has a Six Sigma quality background with over 25 years of asset management, operations and finance experience at Xerox Corporation, Eastman Kodak and GE Capital.
“Over the past several years, EverBank has acquired or started a number of commercial businesses that provide commercial real estate, equipment finance, asset-based lending and specialty financing solutions for our clients,” said Greg Vieceli, EverBank executive vice president, Commercial Division. “These businesses have developed a wide range of successful products and services and have been growth drivers for EverBank’s Commercial Division. The changes we’re making today will enable these businesses to work together seamlessly, enabling us to serve our clients more efficiently and quickly.”
EverBank also made organization changes, expanding its Lender Finance division and combining the Capital Equipment Finance and Business Credit units into a single group called EverBank Business Capital.
The new lender finance group (Speciality and Lender Finance) will now provide single tranche (first-out) structures to principals and underwriters of credit transactions for middle-market companies along with secured, asset-based loan financing to specialty finance companies. It will be led by Dave D’Antonio, based in Mount Laurel, NJ.
The new Business Capital will provide asset-based revolvers and terms loans, equipment loans and leases and leveraged loans to support a companies’ working capital and equipment needs, growth strategies, acquisitions and recapitalizations. The Business Capital team also will offer customized structured financing solutions across a broad range of asset types and industries, including food and beverage, transportation, retail and healthcare. The hold position will be up to $50 million, with the capability to arrange larger transactions through capital markets placements and other syndications strategies. The combined business has offices in New York City and Iselin, NJ.
“To leverage our deep pool of talent and the synergies between our business units to operate more efficiently and with greater excellence, we needed to transform how we organize and how we serve our clients,” Vieceli said. “By combining these specialties into one unified business, we’re sharpening our focus on building broad client relationships in the commercial market. Our goal is to differentiate our unique commercial lending and financing offerings from our competitors and deliver a full suite of commercial products and services that meet our clients’ complex needs.”
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