SMBC named Michael McCarthy president and CEO of SMBC Rail Services. McCarthy, who has served as a senior vice president at SMBC Rail Services for the last five years, will assume the role from Eugene Henneberry, who will retire, effective July 9.

“Working closely with [Eugene], Michael has done an outstanding job and is a natural fit and successor to lead the rail services business,” Hiro Hyakutome, CEO and head of the SMBC Americas division as well as president and CEO of SMBC Americas Holdings, said. “Michael’s promotion is another tangible example of our strong pipeline of senior talent ready to take on a leadership role. I look forward to our continued partnership to help strengthen and grow this business.

“[Eugene]’s achievements were many over the last 15 years, building the business to more than 60,000 railcars and 70 employees, operating offices in two cities and commercial locations in nine cities and two countries. Our organization thanks [Eugene] for his many contributions and his commitment and wish him continued success in his future endeavors.”

“I am deeply honored to have had the opportunity to work with the most talented and passionate team in the rail industry,” Henneberry said. “Having led this team through the financial crisis, two company sales, the acquisition of American Railcar Leasing and, most recently, the COVID-19 pandemic has been challenging at times and without a doubt the most fulfilling professional time of my life. Michael was one of the original members of my team. His experience leading the portfolio management, commercial and customer service teams provides a unique perspective. He is best suited to lead this business through its next chapter.”

“It is an honor for me to be appointed as [Eugene]’s successor as president and CEO of SMBC Rail Services,” McCarthy said. “His leadership and guidance throughout the past 15 years has helped to grow and expand our footprint. We have a dedicated group of exceptionally talented employees who have many years of industry experience. I look forward to taking the helm and building on the achievements [Eugene] and our SMBC Rail Services team have made over almost two decades. We have a very strong foundation in place.”

McCarthy joined SMBC in December 2013 as vice president of portfolio management when SMBC completed its acquisition of Flagship Rail Services. As a commercial leader, he was responsible for implementing the direct market sales strategies and managing the rail services customer service team. He has more than 20 years of experience in railcar leasing, having worked for Flagship Rail Services/AIG Rail Services, GE Capital Rail Services and GATX. Prior to his time in railcar leasing, McCarthy was with Merrill Lynch Capital, where he was vice president of financial planning and analysis.