U.S. Bank announced that Anthony Cracchiolo has been named president and CEO of U.S. Bank Equipment Finance.

As president and CEO of the division, Cracchiolo will lead and oversee all operations of U.S. Bank Equipment Finance, which is composed of nine business units delivering products and services through both direct and vendor channels. The direct businesses now under his leadership include: capital equipment, small business, technology finance, government leasing and finance.

The vendor channel businesses now reporting to Cracchiolo include office equipment vendor services, healthcare vendor services, manufacturing vendor services and technology vendor services, as well as the division’s syndications group.

Cracchiolo will report to Sal Maglietta, executive vice president, U.S. Bank Specialized Finance. “We are well positioned and look forward to accelerating growth and realizing the full potential of the market opportunities under Tony’s leadership,” Maglietta said.

Cracchiolo joined U.S. Bank Equipment Finance in 2007 and has been leading the organization’s businesses in the vendor channel since 2011. Cracchiolo is a leader within the industry with over 35 years dedicated to the equipment finance sector. He has served on the board of directors of the Equipment Leasing and Finance Association since 2010 and the development committee of New York City’s YMCA since 2012.