Key Equipment Finance added Doug Nielsen as senior vice president of business development for the vendor finance team. In addition, the company promoted David Lempko to senior vice president, strategic growth accounts and Shawn Arnone to senior vice president, major accounts, with both working in the technology segment.

Nielsen will be responsible for leading vendor business development and program management, which includes setting strategic direction and managing five business development sales executives for both Key Equipment Finance and Key Government Finance. Nielsen has 30 years of experience in senior management, business development and sales within the equipment finance industry.

Lempko was named senior vice president and middle market sales director at Key Equipment Finance in 2017, shortly after KeyCorp acquired First Niagara, where he served as president of the equipment finance division. In his new role, Lempko will lead origination of new business and relationship management for strategic programs with significant growth potential in Key Equipment Finance’s technology finance segment.

Arnone previously served as vice president, wholesale sales leader for the technology team, where he was responsible for overseeing all department activities with established vendor programs. In his new position, he will lead the origination of new business and relationship management for programs with major technology providers.

“Vendor finance is a critical component of Key Equipment Finance’s overall business strategy, and we have been methodical in selecting a team that can most effectively deliver our products and solutions to current and prospective clients in this market,” said Loren Hill, senior vice president, commercial vendor, Key Equipment Finance. “All three individuals have demonstrated extreme success in a variety of financial services positions, and we have developed an entire business strategy around enhancing the value we bring to our clients.”