Element Financial announced it has established Element Capital, a newly formed business unit dedicated to large equipment financing and leasing transactions, including energy related assets, corporate aircraft and helicopters, rail and road transport, as well as mining and large-scale construction equipment.

Steve Hudson, chairman and CEO, said Tony Bergeron has been appointed executive vice president and will lead Element Capital. Bergeron will be based in Montreal and will report to Bruce Smith, president and chief operating officer of Element Financial.

Commenting on the launch Hudson said, “The large-ticket segment offers the potential to accelerate the growth of our business. We believe Element Capital can increase its fee-based income with modest balance sheet consumption and generate over $250 million of annual volume.”

Bergeron will be supported by a team of highly qualified professionals, including Christian De Broux, senior vice president, risk management. De Broux was director of specialized services management and development at the largest integrated cooperative financial group in Canada.

Other members of the leadership team include Scott Benson, senior vice president, capital markets; Maxim Nadeau, manager, risk underwriting; and Frédéric Larue, regional vice president, sales.