Mike Ziegelmann, former First American Equipment Finance chief credit officer, joined Innovation Finance as its chief financial officer.

“Mike is a respected friend and a talented former business colleague,” said Bill Verhelle, CEO of Innovation Finance. “During 15 years together, Mike did a great job of keeping me out of trouble. I’m pleased to again have the opportunity to benefit from Mike’s good business judgment as we launch this new venture together.”

Ziegelmann started his career in 1992 in public accounting and joined First American Equipment Finance in 2001 — initially serving as chief financial officer and later serving as chief credit officer. As CFO of First American, he was responsible for arranging the company’s credit facilities, including a $150 million commercial paper conduit. Over the past decade, under Ziegelmann’s financial leadership, First American’s portfolio quality was exceptional with net charge-offs of fewer than 10 basis points (on more than $3 billion of originations). Ziegelmann is a member of the AICPA and is actively involved in the ELFA, including previously serving on the ELFA Accounting Committee and CFO Roundtable.

“This is an exciting time to establish a new, customer-focused business,” Ziegelmann said. “It’s rewarding to work with the brightest young professionals to rethink existing business models to create a better client experience. The opportunity to work with people who want to make a positive difference, by helping to transform an industry, makes this an exciting opportunity for me.”

Innovation Finance is a new commercial equipment finance business which was founded by Verhelle.