The Equipment Leasing and Finance Association issued a statement regarding the passing of long-time member and industry leader Richard Doherty, who passed away on Aug. 28.

Doherty enjoyed a successful 43-year career in the equipment finance industry. He cultivated life-long working friendships at numerous companies, including CIT Group, Bank of America and, finally, serving as the president of equipment leasing at PNC Bank. He was a member of the Equipment Leasing & Finance Foundation board of trustees from 2012 – 2014 and assumed the role of treasurer from 2015 – 2017. In 2021, he was named to Monitor’s inaugural Icons list. Doherty was passionate about his work and was beloved by his colleagues.

Doherty was born and raised in Hatboro, PA, where he attended William Penn Charter School and played an integral part on the school’s football team. Doherty continued his football career throughout his grade school and college years, attending Bethany College. Upon graduation, Doherty went on to obtain an MBA from the University of Pittsburgh Katz Business School.

He was very passionate about sports, always on the sidelines of his own children’s games. He also served on the Colts Neck Sports Foundation Board, coached local basketball teams and attended high school sports games even after his own children had graduated.

Rich was predeceased by his parents, and survived by his wife and three children, as well as three siblings and one grandchild.