Wintrust Asset Finance (WAF) named Kirk Phillips president and CEO, succeeding Mike Knowles. Phillips was previously president and CEO of Wintrust Commercial Finance (WCF), where he played an instrumental role in expanding its platform in the middle-market and large-ticket equipment finance sector. His expertise and leadership will continue to drive WAF’s growth and innovation. He joined Wintrust in 2015.

Knowles, who has been a key player in WAF since its inception, joined Wintrust in 2012. He is retiring after having played a pivotal role in its growth into one of the largest bank-affiliated equipment leasing and finance companies in the United States.

“Kirk’s appointment is a testament to the strength of our team. His leadership at WCF has been exceptional,” Rich Murphy, vice chairman of Wintrust, said. “At the same time, we are incredibly grateful for Mike’s contributions to Wintrust Asset Finance. His leadership and vision have been invaluable, and we wish him all the best in his retirement. We are confident that Kirk, Paul and Todd will continue to drive great success at WAF.”

In addition to Phillips’ new role, Paul Hallauer has been named president and CEO of WCF. Hallauer has been a key leader in the organization and will build upon Phillips’ strong foundation and momentum.

Supporting this transition, Todd Wherry has been promoted to senior vice president and chief credit officer of WCF. With more than 30 years of experience in credit and underwriting, Wherry’s leadership will play a critical role in maintaining and strengthening WCF’s credit operations.