People’s United Adds Grote as VP, Asset Manager



People’s United Capital and Leasing (PCLC) added Phil Grote as vice president, asset manager. In this role, Grote will be responsible for establishing equipment values, providing industry analysis within PCLC’s core businesses, and handling all aspects of fair market value leases and repossessions, including remarketing and selling of equipment.

Grote has more than 25 years of experience in the leasing industry and more than 15 years of experience in the asset management and remarketing field. Most recently, he served as VP, asset manager for Sumitomo Mitsui Finance and Leasing. In this role, he was responsible for asset valuations in the construction, transportation and machine tool business segments, and managed all of the company’s inventory of depressed assets and or lease returns.

Prior to that, Grote spent more than a decade at Hitachi Capital where, in addition to his role in remarketing all of Hitachi’s inventory, he monitored all external vendors used for the purpose of securing depressed assets, including negotiating rates for all services performed by their vendors.

“We are excited to welcome Phil to the team and look forward to leveraging his specialized expertise and proven track-record in driving stellar business results to grow our market presence and strengthen our client relationships,” Micky Urquhart, president and CEO of PCLC, said. “Especially now as challenges continue to arise as a result of COVID-19, our clients are looking for a dedicated partner to deliver creative solutions to meet their equipment needs and help them continue to grow.”

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