Winner Named in “Pick the Top 2017 Monitor 100 Company” Contest
JUL 18, 2017 - 6:58 am
The Monitor announced the winner of its “Pick the Top 2017 Monitor 100 Company” contest is Huntington Equipment Finance’s Tony Williams who correctly guessed Banc of America Leasing would prevail as the No. 1 ranked equipment finance and leasing company in 2017 Monitor 100.
Williams was declared the winner, having picked Banc of America Leasing as this year’s leader, despite the seeming advantage that would accrue to benefit of Wells Fargo Equipment Finance as a result of its acquisition of GE Capital’s CDF and Rail assets. As it turned out, Banc of America’s $2.8 billion increase was more than enough to offset Wells Fargo’s $17.8 billion “benefit,” primarily from the acquisitions.
Williams, a risk manager at Huntington Equipment Finance, also was the closest, without going over, by guessing a margin of $746.3 million which was the closest, without going over, compared to the actual difference of $821 million.
Monitor publisher Jerry Parrotto, noted, “With the departure of GE Capital after 25 years at the top, the race to be new No. 1 would come down to a contest between the organic growth of BofA Leasing versus the expected and substantially larger 2016 growth rate of Wells Fargo Equipment Finance. As it turned out, the former’s $2.8 billion increase was more than enough to offset the difference.
“We didn’t think anyone would come that close – our congratulations to Tony, for being ‘right’ on both counts.”
Williams joined Huntington in June 2017 after the merger with FirstMerit. Prior to joining Huntington, he spent the previous five years with FirstMerit Equipment Finance as operations manager. He worked for 18 years in the accounting department before becoming a member of FirstMerit’s equipment finance division.
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