Category Archives: ABL

ABL

Investors Bank Names Cirelli VP, Business Devt

By Joyce Dimaculangan

Investors Bank has appointed Sam Cirelli as Vice President, Business Development Executive of the Asset-Based Lending Group. In this capacity, Cirelli will be in charge of originating loans in the $3 million to $15 million range with small to mid-size companies located in the Northeast. He will be based in New York and will be reporting to Investors’ Head of Asset Based-Lending (ABL) David Viggiano.

Sam Cirelli Investors BankCirelli brings more than 25 years of experience in asset-based financing, loan origination, and portfolio management to his new role. He comes to Investors with many established relationships with middle market companies.

Before joining Investors, Cirelli was Founding Member at Northern Lights Partners, which he founded to provide debt and capital advisory solutions to mid-market businesses with revenues between $5 million and $100 million.

Previously, he served as Founder and Head of ABL and Loan Originations at the Royal Bank of Scotland and LBI hf. (formerly Landsbanki Íslands hf.). In addition, he held top leadership roles at HSBC, Wells Fargo Capital Finance, GMAC, and CIT Group.

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Marquette Hires Collins VP of Sales

By Joyce Dimaculangan

Marquette Commercial Finance is pleased to announce that Lynn Collins has joined the business as a Vice President of Sales. In this capacity, Collins will be responsible for loan origination in the Southeast region in the United States. She will be based in the company’s office in South Carolina.

Lynn Collins Marquette Commercial FinanceCollins has more than 20 years of experience in the finance industry. Prior to joining Marquette, she was with Amerisource Funding, Inc. for 13 years. She last served Amerisource as SE Regional Market Manager.

Previously, Collins served BB&T Business Credit as a Vice President, Business Development where she assisted in the start up of the company’s Recourse Factoring Program, which consisted of partnering with bank branches across the SE Region. In addition, she has worked at LSQ Funding Group, Capital Factors, Bank of America, and Bank of Boston.

“We are extremely pleased to have added Lynn to our marketing team. She is a well-respected, results oriented industry veteran,” said Diane P. Reed, Marquette National Sales Manager.

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Associated Names Vitek SVP, Head of Business Devt

By Joyce Dimaculangan

Associated Bank is pleased to welcome Douglas Vitek as its new Senior Vice President, Head of Business Development with the ABL group. In this capacity, Vitek will manage the company’s team of asset-based business development officers, and will be responsible for all aspects of Associated Bank’s ABL originations.

Douglas Vitek Associated BankVitek has more than 25 years of corporate banking experience focusing on asset-based and leveraged lending to middle market and large corporate clients across the Midwest.

Throughout his years in the industry, Vitek has shown a strong track record of success at sourcing and closing commercial loans.

Prior to joining Associated, Vitek served as Managing Director at NXT Capital where his team enhanced the company’s ability to support and expand relationships with investment banks, intermediaries, advisors and other parties that serve the middle market.

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Gronski Joins U.S. Bank Asset Based Finance Group

By Joyce Dimaculangan

U.S. Bank Asset Based Finance recently announced that Todd Gronski has joined the business as Senior Vice President, western United States. In this capacity, Gronski will lead a team of portfolio specialists who are responsible for underwriting and structuring client transactions.

Todd Gronski U.S. Bank Asset Based FinanceAn MBA-degreed executive, Gronski brings to U.S. Bank Asset Based Finance over 20 years of experience in the finance industry.

His expertise includes originating, structuring, performing due diligence, closing, monitoring, and exiting cash flow and asset-based loans.

Before joining U.S. Bank, Gronski served as Credit Executive for the Arizona and Nevada Middle Market with JPMorgan Chase. Prior to that, he spent more than 12 years with GE Capital, where he last served as a Senior Risk Officer, Pacific Region. As GE Capital’s Senior Risk Officer, he led the risk coordination of the top 1,000 GE Capital customers located in the 14 western states.

According to Tim Turner, Senior Vice President, U.S. Bank Asset Based Finance, “Our clients will benefit from Todd’s extensive experience and from his capacity to generate innovative solutions. They can expect in-depth investment and asset-based lending knowledge, in combination with a collaborative and inclusive approach to lending.”

Gronski earned a B.S. degree in Finance from Arizona State University and an M.B.A. from San Jose State University.

About U.S. Bank Asset Based Finance
U.S. Bank Asset Based Finance is one of the nation’s fastest-growing asset based lenders providing financing solutions to middle-market and large cap companies in the United States and Canada. It provides funding for asset-intensive businesses in distribution, manufacturing, retail and commercial services. For more information, visit www.usbank.com.

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Daniel Rodrigue Joins TAB Bank as NSM

By Joyce C. Dimaculangan

TAB Bank announced that Daniel Rodrigue has joined the company as National Sales Manager of its business development team. To be based in West Palm Beach, Florida, Rodrigue will report to TAB’s Senior Vice President of Sales and Marketing, Justin Gordon.

Daniel Rodrigue TAB BankAs National Sales Manager, Rodrigue will oversee all personnel and functions as it relates to the bank’s nationwide sales efforts.

Prior to joining TAB Bank, Rodrigue served as National Sales Manager at First Capital where he was in charge of the sales staff and deal production for factoring lines and small ABL transactions.

He started his career in the commercial finance industry with Bibby Financial Services, where he turned around a struggling sales unit to be a top producing sales unit within one year of service.

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Triumph Healthcare Hires Woods VP, Business Devt

By Joyce Dimaculangan

Triumph Healthcare Finance is pleased to announce that Sandra Woods has joined the business as Vice President, Business Development. In this capacity, Woods will be responsible for marketing and originations in the West Coast region which will help the company expand its relationships with healthcare providers and intermediaries throughout the United States.

Sandra Woods Triumph Healthcare FinanceWith over 10 years of experience, Woods brings to Triumph a comprehensive skill set including sales, credit, portfolio management, and risk. Woods comes to Triumph from Citibank where she most recently served as AVP, Sales Operations Analyst.

As a healthcare loan specialist with Citi, she was responsible for developing marketing presentations and providing analysis and other support to management for specialty segments such as ABL, Healthcare, SBA, Government Contracting and Technology departments.

Earlier in her career, Woods served East West Bank and Bank of America, which gave her extensive experience in consumer lending, small business lending, and banking.

Ed Kauffman, SVP and National Sales Manager at Triumph Healthcare Finance, said the company is looking forward to having Woods on the team. “Her reputation, energy and tireless work ethic will be an incredible asset for Triumph Healthcare Finance in the West Coast region,” he added.

About Triumph Healthcare Finance
Triumph Healthcare Finance provides asset based lending solutions to small- and mid-sized healthcare companies nationwide. The company offers a range of asset-based lending solutions for healthcare companies with annual revenues from $5 million to $200 million.

Triumph Healthcare Finance is headquartered in Portland, Oregon and is a member of the Triumph Bancorp, Inc. group of companies. For more information, visit www.triumphhf.com.

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Tiger Group Hires New Director of Business Devt

By Joyce Dimaculangan

Tiger Capital Group welcomes Fred Raccosta as Director of Business Development for New York, New Jersey, and Pennsylvania. In this capacity, Raccosta will concentrate on business development and identifying asset disposition opportunities in the company’s Eastern Region, as well as spearheading the firm’s New York-based sales and marketing efforts to the lending, turnaround and investment banking communities.

Fred Raccosta Tiger Capital GroupRaccosta has more than 25 years of experience in the financial services industry, including a decade of experience in the valuation, monetization and advisory side, providing consultative solutions to the lending and investment banking communities.

Raccosta comes to Tiger Capital Group from Hilco Global, LLL where he most recently served as Senior Vice President. With Hilco, he was in charge of financial institutions, investment banks and other professional services advisory companies in nine Eastern states and the District of Columbia.

For 15 years, he served various leadership roles with asset-based lenders and other financial institutions, including as a Senior Business Development Officer and Vice President at Access Capital, and as a Vice President at CIT Group in New York and Pennsylvania.

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NewStar Business Credit Hires Teszler

By Joyce Dimaculangan

NewStar Business Credit welcomes David Teszler as a Senior Vice President in its office in Atlanta. In this capacity, Teszler will be responsible for generating new asset-based financing opportunities with middle market companies in the Southeast, adding to NewStar’s marketing and origination efforts in the region.

David Teszler New Star Business CreditMilton Iskra, EVP and National Marketing Manager for NewStar said, “David adds depth to our team with a valuable combination of marketing coverage, credit skills and deal execution experience.”

Teszler has over 25 years of experience in structuring, originating, underwriting and managing debt financings for middle market firms. Prior to joining NewStar, he worked at Commenda Securities, a broker-dealer focused on providing growth capital to small- and medium-sized companies.

In 1985, Teszler began his career in commercial lending, having worked with some of the leading lending institutions in the United States, including Heller Financial, GE Capital, FINOVA and Wells Fargo.

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Birnel Named BDO at Wells Fargo Capital Finance

By Joyce Dimaculangan

Wells Fargo Capital Finance announced that Ryan Birnel was named Business Development Officer for the loan originations team in Denver, Colorado. In this capacity, Birnel will be responsible for sourcing and structuring flexible asset-based financing for opportunities originated in Colorado, Montana, Utah and Wyoming. He will report directly to Mark Gustafson, Regional Sales Manager for Wells Fargo Capital Finance.

Gustafson disclosed that Birnel is a talented and hard-working team member. “I am Ryan Birnel Wells Fargo Capital Financeexcited to have him join our team and I am confident he will make an immediate impact as he has done in his previous roles with our company,” he said.

Birnel has been with Wells Fargo Capital Finance since 2008. Prior to this career advancement, he was Assistant Vice President and Relationship Manager where he managed over $500 million in senior secured credit facilities to corporate borrowers.

Before WFCF, he served West Coast Bank as Assistant Relationship Manager where he provided the primary analytical support to a commercial lending team with a loan portfolio of $85,000,000.

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Federal National Names Buanno as BDO

By Joyce Dimaculangan

Federal National Commercial Credit announced that John Buanno has joined the business as Senior Business Development Officer covering the Florida market. He comes to FNCC from Bibby Financial Services where he served for four years.

With Bibby Financial Services, Buanno provided asset based lending and trade finance John Buanno Federal National Commercial Creditservices to small- and medium-sized enterprise businesses domestically and internationally. Prior to his career in the finance industry, he spent more than ten years as an executive in the hospitality industry.

“I am very excited to have John as part of Federal National. He will be a great addition as the company continues to expand its new business origination team,” stated Andy Osborn, National Sales Manager.

A senior business analyst, Buanno provides his clients insightful and practical solutions for their financing and long-term growth plans. His extensive experience includes risk and audit management, customer service, business development, and financial controls.

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