Volvo Construction Equipment Invests in Battery Pack Production at South Korean Excavator Plant

Volvo Construction Equipment announced an investment into battery pack production at its excavator plant in Changwon, South Korea, signaling its ambition to drive industry transformation with sustainable solutions. read more

Manitex International Names Balugani General Manager of Electric Crane Division

Manitex International, an international provider of truck cranes, specialized industrial equipment and construction equipment rental solutions, appointed Paolo Balugani general manager of Manitex Valla, the company’s electric crane division. read more

January Used Truck Retail Volumes Jump 24% M/M

According to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks report published by ACT Research, January used Class 8 retail volumes (same dealer sales) increased 24% month over month and were 2% higher compared to January of 2022. read more

Navitas Credit Founder and CEO to Retire

Gary Shivers, founder and CEO of Navitas Credit will retire as CEO on Feb. 28. Shivers founded Navitas in 2008 and grew the company to more than $1.3 billion in assets, with new originations reaching $1 billion dollars per year. read more

Equipment Finance Industry Confidence Improves Again in February

According to the Equipment Leasing & Finance Foundation's February 2023 Monthly Confidence Index for the Equipment Finance Industry, confidence in the equipment finance market during this month reached a mark of 51.8, an increase from the January index of 48.5. read more

Signature Bank Announces Leadership Transition Plans

Joseph J. DePaolo, president and CEO of Signature Bank, plans to transition into a senior advisor role during 2023. Eric R. Howell will succeed DePaolo as president, effective March 1, and eventually succeed as CEO once DePaolo gradually completes his transition. read more

BMO Appoints Hirji Group Head of Commercial Banking

BMO Financial Group appointed Nadim Hirji as group head of BMO Commercial Banking. Hirji will report to CEO Darryl White and join the bank's executive committee. Hirji’s appointment will go into effect March 1. read more

Truist Sells 20% Stake in Truist Insurance Holdings to Stone Point Capital for $1.95B

Truist agreed to sell a 20% stake in Truist Insurance Holdings to funds managed by private equity firm Stone Point Capital for $1.95 billion. read more

B. Riley Expands Appraisal Services with Addition of Field Examination Practice

B. Riley Advisory Services, a provider of specialty business advisory services, expanded its appraisal and valuation services with the addition of a dedicated field examination practice. Thomas Scotti will lead the new practice as managing director.  read more

IDB Bank Expands Sponsor and Leverage Finance Team

IDB Bank expanded its sponsor and leverage finance team, hiring four professionals who previously worked together with Investors Bank. James Dunleavey will lead the team as senior vice president and manager.  read more

CIT Closes $8MM Factoring Facility for Los Angeles-Based Apparel Company

CIT Commercial Services, a wholly-owned subsidiary of First Citizens Bank, closed a non-recourse factoring arrangement and $8 million senior secured facility for a Los Angeles-based company that sells men's and boys' clothing to retailers. read more

NFS Leasing Reports 32% Y/Y Growth in Originations in 2022

NFS Leasing achieved 32% year-over-year growth in originations in 2022. According to the company, the performance was driven by both new and existing customers originations and growth with several key existing vendor partners. read more

CSI Leasing Launches Subsidiaries in Taiwan and Thailand

CSI Leasing, an independent leasing company, expanded its Asia-Pacific operations by opening subsidiaries in Bangkok, Thailand, and Taipei City, Taiwan. This expansion follows the recent launch of CSI Leasing Japan in 2021. read more

AerCap Transports Aid to Support Earthquake Relief Effort in Türkiye

AerCap transported approximately 13 tons of humanitarian aid to support relief earthquake relief Türkiye. The freight, which was flown from Rotterdam in the Netherlands to Antalya in Türkiye on board an Airbus A321 aircraft, included clothing, baby food and power generators. read more

Air India Chooses GE Aerospace to Power Recent Aircraft Order

Air India, part of Tata Sons, signed a firm order for 40 GEnx-1B and 20 GE9X engines, plus a multi-year TrueChoice engine services agreement. The deal was signed in coordination with the airline’s firm order for 20 Boeing 787 and 10 Boeing 777X aircraft. read more

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