Michael A. DeBernardi joined The Alta Group, a global consultancy dedicated to equipment leasing and finance. He previously managed asset financing operations in 26 countries for a number of companies.
DeBernardi’s career reflects experience with a diverse range of financial products and industry sectors, including commercial and consumer finance, community banks, inventory financing, asset-based lending and equipment leasing and financing.
As a director of The Alta Group, he will participate in client engagements involving merger and acquisition, risk management and strategic management consulting.
Previously, he served as the executive vice president and chief operating officer of Oritani Bank in Washington Township, NJ, where he was responsible for deposits and operations at more than two dozen branches located in four Northern New Jersey counties. He became chief risk officer of this $4 billion, fully public community bank and served as a member of the bank’s board of directors for over 20 years.
In the equipment leasing and finance industry, he was a co-founder and chief risk officer of US Express Leasing in Parsippany, NJ, before it was acquired by Tygris Commercial Finance (now operating as EverBank Commercial Finance). He had participated with three partners from Aternus Partners in preparing the small-ticket vendor financing company for its business launch and then helped raise $125 million in private equity commitment from a single institutional source.
DeBernardi’s career includes 18 years with AT&T Capital, Newcourt Credit Group and The CIT Group in Livingston, NJ. As executive vice president and chief risk officer for the global vendor finance unit of CIT, he led the introduction and implementation of one of the earliest applications of empirically derived credit-risk scoring models used in commercial finance. There, a team of five full-time operations research PhDs refined and improved the use of credit automation across the businesses.
“I have been privileged to work with some excellent people over the years who shared their unique insights in financial services. The business basics are fundamental. It’s the cost and reliability of funds, the exposure to credit (and residual) loss, and the cost of delivery. I have always enjoyed working as a member of a team to drive profitable operations and returns to shareholders, and I look forward to working with The Alta Group to assist meeting clients’ needs,” DeBernardi said.
“We’ve known Mike for years, admire his accomplishments, and we highly value the knowledge and experience he will bring to our team of consultants in several key practice areas,” said John C. Deane, CEO of The Alta Group.
Like this story? Begin each business day with news you need to know! Register now for FREE Daily E-News Broadcast and start YOUR day informed!
One Reply to “Executive DeBernardi Joins The Alta Group as a Director”
Another sound addition by John Deane to the Alta lineup – congratulations, Mike.
It’s as if Alta can bring back all-stars to the Yankees; they have Ruth, Gehrig, DiMaggio, Berra, Ford and Mantle and they’ve just added Jeter!
Continued success, John.