First Citizens Claims HSBC’s Silicon Valley Bank Staffing Additions ‘Violated Federal Law’

Reuters reported that First Citizens Bank filed a lawsuit against HSBC after it hired “dozens” of former Silicon Valley Bank employees in April. According to Reuters, First Citizens is alleging that HSBC “violated federal law by hiring away the workers.” read more

Northern Trust Appoints Cowan Chief Banking Officer for the West Region

Northern Trust appointed Patrick Cowan chief banking officer for the west region, where he will lead the strategic direction and execution of the banking business to accelerate growth in the region. Most recently, Cowan was the chief banking officer for Ascent Private Capital Management and U.S. Bank. read more

Peapack-Gladstone Bank Appoints O’Gorman SVP and Head of Special Assets

Peapack-Gladstone Financial and Peapack-Gladstone Bank appointed John P. O’Gorman senior vice president and head of special assets at Peapack-Gladstone Bank. He will be managing various workout situations and processes for the bank at its headquarters in Bedminster, NJ. read more

Moritt Hock & Hamroff Bolsters M&A and Tax Practices

Michael B. Kaufman joined Moritt Hock & Hamroff as a partner and chair of the firm’s tax practice group, while Brian C. Daughney joined as a partner in the firm’s corporate, M&A and securities practice group and Murray D. Schwartz joined as senior counsel. read more

CIT Northbridge Credit Refinances and Upsizes Tubular Synergy’s $45MM Credit Facility

CIT Northbridge Credit, as advised by CIT Asset Management, provided $45 million to refinance and upsize a secured credit facility for Tubular Synergy Group, a privately held sales, marketing and supply chain services distributor. read more

AerCap Signs Lease Agreements with ASKY for 2 Boeing 737-8 MAX Aircraft

AerCap signed lease agreements for two used Boeing 737-8 MAX aircraft with ASKY, a pan-African airline headquartered in Togo. The aircraft are scheduled to deliver between June and August. read more

Volvo Trucks to Sell 1K Electric Trucks to Holcim by 2030

Volvo Trucks signed a letter of intent to sell 1,000 electric trucks between now and 2030 to Holcim, a provider of building solutions headquartered in Switzerland. read more

First Financial Equipment Leasing Hires Hutchison to Lead New Construction & Industrial Finance Group

Brian Hutchison joined First Financial Equipment Leasing as senior vice president to spearhead the company’s expansion into the construction and industrial equipment segment. read more

ELFA Recognizes Enbom with 2023 David H. Fenig Service in Advocacy Award

The Equipment Leasing and Finance Association selected Christopher A. Enbom, CEO and chairman of AP Equipment Financing, to receive its 2023 David H. Fenig Distinguished Service in Advocacy Award. Enbom will be recognized at the ELFA’s Capitol Connections event on May 24. read more

Global Jet Capital Projects $195B in Business Jet Transactions Between 2023 and 2027

In a recent report, Global Jet Capital projected $195 billion in total business aviation transaction volume for both new and pre-owned transactions between 2023 and 2027 with a compound annual growth rate of 3.1%. read more

ELFF Report: More Than 80% of Franchisors Expect Increase in Sales in 2023

Despite economic uncertainties around inflation, labor issues and a looming recession, more than 80% of franchisors anticipate an increase in franchise sales in 2023, according to a new study released by the Equipment Leasing & Finance Foundation. read more

Clarus Capital Closes $25MM Lease Facility for Sponsor-Backed Components Manufacturer

Clarus Capital completed a new $25 million lease facility for a sponsor-backed precision components manufacturer. The financing proceeds will support the installation of new production equipment across multiple facilities. read more

Rougeau Joins Partner Ranks at Wright Law Group

According to the Equipment Leasing and Finance Association, Wright Law Group promoted Jared Rougeau to partner and director of nationwide litigation. read more

Boeing Receives Orders for 4 Business Jets

Boeing received orders for up to four ultra-long-range Boeing Business Jets, including two BBJ 787-8s, one BBJ 737-7 jet and an option to purchase a BBJ 777-9, to undisclosed customers. read more

Mid Penn Bancorp Completes Acquisition of Brunswick Bancorp

Mid Penn Bancorp completed its acquisition of Brunswick Bancorp. The combined stock and cash transaction was valued at approximately $43.7 million and will extend Mid Penn’s footprint into Middlesex and Monmouth counties in central New Jersey. read more

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