Regions Bank promoted Dave Lyder to group leader for Ascentium Capital, a division of the bank that provides financing support for specialized business equipment, technology, commercial vehicles and other small business needs.

Lyder is succeeding Tom Depping, who recently retired after a career spanning 40 years in equipment finance. Depping founded Ascentium Capital in 2011 to provide a lending platform with financing and leasing options for manufacturers, distributors, resellers and franchise organizations. Ascentium began as a small business startup was solid to Regions Bank in 2021.

“Through Ascentium Capital’s competitive financing solutions and additional services from Regions Bank, our support for small businesses is stronger than ever,” Nikki Stephenson, head of credit products at Regions Bank, said. “Tom Depping’s experience and insights have been vital to positioning Ascentium and Regions as a compelling choice for entrepreneurs who rely on specialized equipment to drive business success. Dave Lyder is the ideal leader to build on Tom’s foundation of providing tailored solutions and a superior client experience.”

Lyder joined Ascentium Capital in 2014 to launch a direct sales division. Through Lyder’s leadership, the company’s overall origination volume grew from $440 million in 2014 to $1.8 billion in 2022. Most recently, Lyder served as senior vice president for sales and marketing at Ascentium, a role he began in May 2020.

Before joining Ascentium, Lyder served as senior vice president of finance and operations at Direct Capital. Prior to that, Lyder spent 12 years in public accounting providing auditing and consulting services to large, privately-held companies.

“Ascentium Capital has been instrumental in meeting client needs thanks to the vision and customer focus of Tom Depping,” Lyder said. “I’m incredibly proud to continue our legacy of providing fast, flexible financing solutions that keep small businesses moving forward. Throughout each phase of our company’s history, we have never lost sight of our commitment to delivering innovative products, efficient operations and exceptional customer service.”