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Equipment finance executives to watch in 2024 

Equipment Finance News recognizes 13 dynamic industry leaders  

Johnnie Martinez IIbyJohnnie Martinez II
September 28, 2023
in Dealer Operations, Lender Operations
Reading Time: 11 mins read
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Equipment lenders, service providers and vendors are advancing the equipment industry as new technologies, procedures and opportunities emerge in equipment finance. 

As the equipment and equipment finance industries grow despite rising interest rates and economic uncertainty, some executives are improving operations to gain market share and are looking to integrate new technologies to bolster controls and streamline operations. 

Improved collaboration and communication between lenders and dealers are opening the door for further industry growth, and service providers and equipment finance organizations are contributing to the advancement of finance operations in the industry. 

While 2023 has been a significant year for many executives and their organizations, 2024 represents an opportunity to maintain that momentum. 

Equipment Finance News is proud to name 13 executives to watch in 2024. These execs have already found organizational success and are distinguishing themselves in the vast landscape of equipment finance through organizational success, innovation or both. 

John Boy, finance and sales admin. manager, Anderson Equipment Co. 

John Boy

Anderson Equipment Co., an equipment dealer and renter in the Northeast, launched its Mecalac product line across three locations in May. The cultivation of financing relationships across lenders for various customer credit levels is a key role for the finance office and executive leadership team during a product launch, John Boy, finance and sales administration manager, told EFN.  

Since 2018, Boy has served as the finance manager for Anderson, which manages 18 full-service locations across six states along with several product lines including Komatsu, Takeuchi and Dynapac, according to the website. 

Boy’s cultivation of financing relationships for Anderson’s customers with the launch of its new product line is a model the industry can follow as the equipment finance industry navigates the high interest rates likely in place at the start of 2024. 

Alistair Canal, president, Syndifi 

Alistair Canal, president, Syndifi
Alistair Canal

Alistar Canal was named president of loan syndication platform Syndifi in August after previously serving as the company’s chief growth officer and executive vice president of marketing and sales. 

As larger banks and financial institutions tighten their credit standards, the ability to syndicate loans will grow in importance. Syndifi’s platform helps buyers and sellers complete secondary market equipment finance transactions at a time when the industry faces high interest rates, according to the company. 

Canal will play a key role in the success of Syndifi’s loan syndication platform, which in turn could play a crucial role in 2024 transactions. 

John Crum, managing director, Wells Fargo commercial vehicle group 

John Crum, managing director, Wells Fargo commercial vehicle group
John Crum

Electrification and commercial EVs will continue to gain traction in 2024, and thanks to John Crum, managing director of Wells Fargo’s commercial vehicle group, the group is in a key position in the commercial EV space. 

“Part of our journey to go net zero by 2050 includes both our own emissions as well as our financed emissions, so helping our clients get to their electric vehicle goals is part of that,” Crum said during a recent company call. Wells Fargo has committed to deploying $500 billion in financing for sustainable projects and businesses by 2030, according to the company’s website. 

As sustainability and electrification remain in the forefront of the commercial vehicle industry, Crum’s involvement in the space and leadership of Wells Fargo’s commercial vehicle group is worth watching. 

Wayne Fischer, director of parts, service and technology, Torgerson’s 

Wayne Fischer, director of parts, service and technology, Torgerson’s
Wayne Fischer

Wayne Fischer is director of parts service and technology at Montana-based equipment vendor Torgerson’s, which is leveraging AI to address labor shortages affecting the equipment finance industry. 

Through implementation of the AI program AgvisorPro, Fischer is training Torgerson’s new technicians faster, he told EFN. Better trained and more efficient technicians help improve workflows and keep customers satisfied, two keys to operational success. 

Fischer’s more than 20 years of experience at Torgerson’s has also given him the credibility and cache in the industry to help other dealers transform their service operations and improve the “I” side in F&I (finance and insurance). Other dealers are already reaching out to learn about Torgerson’s use of AI, he told EFN. 

Martin Golobic, co-chief executive, GreatAmerica Financial Services 

Martin Golobic, co-chief executive, GreatAmerica Financial Services
Martin Golobic

Martin Golobic, co-chief executive of GreatAmerica Financial Services, previously served as the company’s vice president and general manager of its connected technology group, two areas he continues to work on as co-CEO, according to the company’s website. Golobic leads the lender’s digital transformation. 

GreatAmerica Financial Services’ managed portfolio in 2022 was $2.5 billion while the company’s new business volume was $1.3 billion, according to the 2023 Monitor 100. 

With the success of GreatAmerica over the past 30 years, the rise of the heir apparent, following Martin Golobic’s 13-year climb up the organizational ladder, will be something to watch as he shapes the future of the company. 

Stephanie Hall, vice president of sales, Quality Equipment Finance 

Stephanie Hall, vice president of sales, Quality Equipment Finance
Stephanie Hall

Stephanie Hall joined Carmel, Ind.-based, small-ticket equipment finance company Quality Equipment Finance in October 2022 as vice president of sales.  

Small-ticket transactions are those between $30,000 and $3 million, according to the company, which closed transactions totaling more than $125 million in 2022, with origination volume up 33% year over year, according to a Jan. 17 company release. 

Hall’s “veteran sales team is focusing on fundamentals in 2023,” she said, noting, “We have a solid foundation.” 

Hall continues to advance industry operations and the understanding of the industry for dealers, lenders and vendors, and EFN will be watching her progress at Quality in 2024. 

David Lee, chairman and CEO, North Mill Equipment Finance 

David Lee, chairman and CEO, North Mill Equipment Finance
David Lee

North Mill Equipment Finance CEO David Lee is an industry veteran still making waves in 2023. The lender is growing rapidly, with annual organic origination volume increasing by 76% YoY to $542 million in 2022, according to a Jan. 9 release. The company works with third-party referral sources to finance “mid-ticket” equipment commercial leases and loans ranging from $15,000 to $1 million in value. 

NMEF’s managed portfolio in 2022 was $856.8 million while the company’s new business volume was $569.5 million, according to the 2023 Monitor 100, and was recognized as one of the fastest-growing companies in the Inc. 5000 annual rankings, based on its three-year revenue growth rate of 354%, according to the lender. 

The company in 2022 won the GlobalCapital U.S. Securitization Award for ABS Deal of the Year for its NMEF 2022-A equipment loan securitization worth $371 million, according to a June 12 company release. In 2023, the lender completed its first ABS deal of 2023 on Sept. 22, a $456 million transaction. 

Lee’s veteran leadership of NMEF positions the company to make an impact on the equipment finance industry in 2024 and beyond. 

Rene Paradis, president and chief operating officer, Auxilior Capital Partners 

Rene Paradis, president and chief operating officer, Auxilior Capital Partners
Rene Paradis

Rene Paradis became chief operating officer of Auxilior Capital Partners in June 2022, and was promoted to president just two months later, according to the company. 

Auxilior continues to be one of the fastest-growing equipment and commercial finance companies in the United States, with its new business volume increasing 212.8% YoY, based on numbers in the 2022 and 2023 Monitor 100. From 2021 to 2022, Auxilior increased new business volume 482.1% YoY, according to the company. 

The growth comes thanks to the company’s backing from a multibillion-dollar private equity fund. 

Auxilior Capital Partners’ managed portfolio in 2022 was $901 million, according to the 2023 Monitor 100. 

As Paradis continues in her role at Auxilior, EFN will be watching how she is able to maintain the organization’s triple-digit percentage growth in the next year, especially in the current macroeconomic environment. 

George Parker, president of Black Equipment Finance Network, co-CEO of VenSource Capital 

George Parker, president of Black Equipment Finance Network, co-CEO of VenSource Capital
George Parker

George Parker launched the Black Equipment Finance Network (BEFN) in September 2021 along with other industry professionals, and the network has made strides this year to enhance DEI efforts across the equipment finance industry.  

BEFN, which hosts multiple networking events for black professionals, has announced a new mentoring program for black professionals and plans to sponsor scholarships for the 2023-24 term. 

VenSource Capital, where Parker serves as co-CEO, works with venture capital-funded startups seeking equipment financing. The company typically finances short-term deals between $750,000 and $5 million for startups of varying stages, according to the company’s website. 

Parker’s focus on furthering DEI efforts and contributions to startups position him as an industry leader to watch in the year ahead. 

Michael Rooney, CEO, Verdant Commercial Capital 

Michael Rooney, CEO, Verdant Commercial Capital
Michael Rooney

During his 30-year career in equipment finance, Michael Rooney co-founded Information Leasing Corp., where he served as vice president. The group became PNC Equipment Finance in 2008 following three separate mergers with publicly traded banks.  

Rooney left PNC Equipment Finance in 2010 and now leads Verdant Commercial Capital, a growing commercial finance company started in 2017 that has grown to the sixth-largest independent equipment finance company in the United States, according to the 2023 Monitor 100. Verdant’s managed portfolio in 2022 was $671.2 million while the company’s new business volume was $550.1 million.  

Rooney’s lengthy track record of industry success makes him one to watch going forward. 

Brian Rosa, president of commercial finance, Mitsubishi HC Capital America 

Brian Rosa, president of commercial finance, Mitsubishi HC Capital America
Brian Rosa

Brian Rosa began in his current role following the April 1 merger of Mitsubishi HC Capital America, ENGS Commercial Finance and Mitsubishi HC Capital (USA), operating under the name Mitsubishi HC Capital America. He previously served as managing director of Mitsubishi HC Capital (USA). 

The merger created an organization with $7.5 billion in managed assets, including the $1.6 billion commercial finance business led by Rosa, according to the company. The company has been expanding its operations since April, positioning it for 2024, and plans to increase its lending capacity next year, grow in key markets, continue to focus on sustainability and tap into financing demand, Rosa said. 

“Our vision is to continue building on what we started when we fully integrated our three U.S.-based Mitsubishi HC Capital companies,” he said. “A decrease in rates is unlikely to happen anytime soon.” 

Alan Sikora, CEO, First American Equipment Finance

Alan Sikora, CEO, First American Equipment Finance
Alan Sikora

Alan Sikora leads First American Equipment Finance, a division of Royal Bank of Canada and City National. First American had a managed portfolio of $3.7 billion and new business volume of $1.9 billion at yearend 2022, according to the 2023 Monitor 100.  

Since 2016, First American has been ranked as one of the top 10 best small/medium workplaces in financial services and insurance, according to Fortune magazine and people analytics firm Great Places to Work;

Sikora took over as chief executive in 2015. First American has also seen consecutive year-over-year growth of its U.S. lease portfolio since 2016. 

Sikora’s ability to manage financial and human capital in the modern corporate world has played a role in sustaining its success. As more organizations seek to balance growth and employee retention, Sikora has already created a sustainable approach to it. 

Jennifer Warren, head of institutional services and equipment finance, M&T Bank/Wilmington Trust 

Jennifer Warren, head of institutional services and equipment finance, M&T Bank/Wilmington Trust
Jennifer Warren

Jennifer Warren, head of institutional services and equipment finance at M&T Bank/Wilmington Trust, has been heading up the growing equipment finance division at Wilmington Trust since January 2022 and has held multiple leadership roles at Canadian Imperial Bank of Commerce. 

M&T Equipment Finance’s managed portfolio in 2022 was $8.3 billion while the company’s new business volume clocked in at $4 billion, according to the 2023 Monitor 100. M&T Equipment Finance facilitates transactions ranging from $5,000 to more than $15 million across the U.S. 

The company also facilitated a $550 million asset-backed securitization on Aug. 8, according to Finsight, which tracks securitization activity. 

Warren will play a key role as the head of one of the largest bank-owned equipment finance divisions as M&T Equipment Finance continues to grow. 

Tags: Anderson EquipmentAuxilior Capital Partnersequipment financeFeaturesFirst American Equipment FinanceGreatAmerica Financial ServicesM&T Bank/Wilmington TrustMitsubishiNorth Mill Equipment FinanceQuality Equipment FinanceSyndifiTorgerson'sVenSource Capitalverdant commercial capitalWells Fargo
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