Fifth Third Bank will integrate Celtic Commercial Finance and LaSalle Leasing, which became divisions of Fifth Third in 2019 as part of its merger with MB Financial, as Fifth Third Technology Finance.
Part of Fifth Third’s equipment finance group, Fifth Third Technology Finance will focus on helping companies acquire, finance, maintain and replace information technology and material handling equipment through customized leasing programs while helping clients track the lifecycle process with a cloud-based toolkit.
Fifth Third’s equipment finance group consists of a team of more than 140 people across the United States. More than one-third of its members support four specialty channels: core equipment, technology finance, capital markets and renewable energy. As of 2021, its total assets were $6.7 billion and new business volume was $2.9 billion.
“With the integration of Celtic Commercial Finance and LaSalle Leasing as Fifth Third Technology Finance, we are one business, one brand and one team of dedicated professionals,” Tom Partridge, executive vice president and head of commercial specialty finance products at Fifth Third, said. “This focus is key for our clients. We know they continue to face supply chain challenges, inflationary pressures and continued economic uncertainty.”
“Fifth Third’s commercial bank clients can rely on the equipment finance group team to be the most knowledgeable, to add value and deliver deep domain expertise,” David Drury, senior vice president and equipment finance group head at Fifth Third, said. “Fifth Third Equipment Finance’s core equipment finance team, together with the technology finance unit, delivers the solutions, systems, processing and customer service to bring greater wholistic value and help our customers achieve the financing solution that’s right for their equipment needs.”
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