Marlin Business Services said it has launched an Industrial Finance Group and has hired Rich Garwood as vice president of the unit. Garwood will provide leadership and expertise for Marlin’s business strategy to increase penetration in this market segment, which includes several equipment categories within the industrial market, the company said.

Garwood is a seasoned professional with more than 25 years of experience. He has held various sales leadership and management positions throughout his career and worked most recently at GE Capital Dealer Financial Services as vice president/region sales manager. Previously, he was senior vice president/region manager at CitiCapital Commercial Equipment Finance.

“We are delighted to have Rich on board since his experience aligns well with our strategy to further penetrate the light industrial market,” said Ed Siciliano, Marlin’s chief sales officer. “His addition to our team complements the strong sales leaders who are driving Marlin’s continuing growth.”