Signature Financial is expanding its roster of financial offerings with direct commercial vehicle finance. In addition, the specialty finance subsidiary of Signature Bank has made several personnel additions.
The new offering will provide direct vehicle finance loans through a network of approved commercial vehicle dealerships in New York, New Jersey and Connecticut. Loans will target small and mid-size business borrowers that are attempting to acquire commercial vehicles and fleets, including trucks and work vans.
James E. Collins was named vice president and director of the new venture, with Thomas W. Hedge tabbed as regional sales manager. Matthew W. Capobianco and Michael J. Rubenstein were both appointed as senior underwriting officers and Raul Caraballo will serve as senior documentation specialist.
Collins has spent nearly three decades in the commercial vehicle finance industry, with stops at Bank United, TD Bank, First State Bank and North Fork Bank.
Hedge also has roots with North Folk Bank, as he worked for NFB Funding, a subsidiary of the bank for 10 years.
Capobianco and Rubenstein are also industry veterans with ties to Bank United. Capobianco’s most recent post was vice president of indirect and special lending with Bank United, while Rubenstein worked most recently at Nassau Financial Federal Credit Union after years with Bank United and Capital One Bank.
The additions to the new venture staff were not the only personnel moves made by Signature, which named several new executive sales officers to its national direct finance team, which focuses on equipment and franchise finance.
John A. Turck, a former direct originator in the commercial equipment finance unit for GE Capital, Jerry Mathew and Steven Smallwood are all new employees with experience working with the GE Capital. Turck is based in New York, Mathew in California and Smallwood will work out of Dallas.
Michael Jones, formerly vice president of finance sales at BancorpSouth Equipment Finance has joined the team as well, with a coverage area of southern Texas.
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