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Hoeffner Joins Cass Commercial Bank as Director of Equipment Finance

Cass Commercial Bank formed a new division focused on financing equipment purchases for businesses, not-for-profit organizations and municipalities through capital and municipal leases. The bank appointed Senior Vice President George Hoeffner to lead this new effort. read more

Western Alliance Bank Introduces New Equipment Finance Group

Western Alliance Bank introduced Western Alliance Equipment Finance, a national specialty banking group created to target the $1 trillion equipment financing sector and provide capital equipment financing solutions for companies nationwide. read more

Sloan to Retire as Wells Fargo CEO; Parker Appointed Interim CEO

Wells Fargo President and CEO Timothy Sloan has informed the company’s Board of Directors of his decision to step down as CEO, president, and board member effective immediately. The board has elected General Counsel C. Allen Parker as interim CEO. read more

JPMorgan Plans Layoffs After Staffing Review

According to Bloomberg, JPMorgan Chase is planning on laying off hundreds of employees within its asset and wealth management division after a periodic staffing review. read more

DLL Closes Third Securitization Transaction at Over $1B

Global vendor finance company DLL closed its DLL 2018-2 ABS (asset backed securities) securitization transaction in the United States, which exceeded $1 billion. This is the largest equipment deal in recent history in U.S. markets. read more

BB&T Veteran to Oversee New FNB Loan Production Office in Philly

First National Bank awill open a new regional loan production office in Philadelphia to facilitate additional business opportunities for the bank’s commercial and lending services in the southeastern portion of the state. read more

GE Capital Vet Rex Joins Encina Equipment Finance as Managing Director

Wren Rex joined Encina Equipment Finance as managing director of Business Development for the Northeast Region. She will be based in Westport, CT and report to Rick Matte, president and chief commercial officer. read more

Fifth Third Bancorp Completes Merger with MB Financial

Fifth Third Bancorp completed its acquisition of MB Financial. Primary systems and client conversion is expected to occur in early May 2019. read more

ELFA: February 2019 New Business Volume Down 24% Y/Y

The ELFA Monthly Leasing and Finance Index showed overall new business volume for February was $5.9 billion, down 24% year-over-year from new business volume in February 2018. Volume was down 18% month-to-month from $7.2 billion in January. read more

LIBOR’s End Looms but Lenders Still Search for Replacement

As the 2021 end of the LIBOR approaches, banks, accountants and regulatory bodies are still struggling to find a replacement standard that is immune to the same manipulation that brought about LIBOR’s demise, reports Bloomberg Tax. read more

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