20 equipment finance executives to watch in 2026

Dealers, lenders, OEMs and service providers are reshaping the equipment finance industry as tariff uncertainty, regulatory tightening and shifting customer demand force leaders to innovate and find new opportunities to grow their businesses. 

While OEMs and dealers face cost pressures and inventory volatility, lenders continue to deal with a tightened credit environment after the first Federal Reserve rate cut of the year in September, nearly three-quarters of the way through the year. Meanwhile, the industry continues to develop new financing models, as specialty rental, electrification, autonomy and precision technology grow. 

Still, lenders are balancing growth with risk management amid high funding costs, leaning on asset-based lending, securitizations and forward-flow structures to meet consumer demand. As the industry evolves, success will hinge on aligning capital flow with innovative technologies, maintaining compliance readiness and delivering faster, more creative financing. 

Equipment Finance News is pleased to recognize these 20 executives to watch in 2026. They represent organizations successful in 2025 and have positioned themselves and their organizations for a strong 2026. 

Josh Arnall, F&I manager, H&R Agri-Power

As OEMs like CNH and Kubota shift their strategies, either to stimulate growth or navigate tariffs, dealers that sell those brands must also navigate the changes. H&R Agri-Power has a record of success in trying times, and F&I Manager Josh Arnall will be key to maintaining that record. In 2024, Arnall told EFN that the company totals about $45 million in monthly sales across the dealer group. 

Arnall has more than 15 years of commercial lending and retail finance experience, including 12 years as an F&I manager, and in an era of tight financing, he is driving innovation at the dealer level. He is pushing internal finance tools, refining lender partnerships and embedding flexible, customer-friendly offerings into complex equipment deals, all crucial as dealers adapt to shifting credit markets. 

Rod Bull, CEO, Komatsu North America 

Komatsu North America’s strategy in mining and construction in 2026 — at a time of reshoring, infrastructure demand and autonomy investments — will be key to the company holding its own against fellow industry leaders Caterpillar and Deere.  

Komatsu North America has a 15.3% market share at $26.6 billion in global construction sales in 2024, according to the 2025 KHL Yellow Table. Rod Bull, who became CEO in April, plans to use more than a decade in leadership roles with the Japanese OEM to guide the company’s growth. 

Given Komatsu’s push in North American, including the opening a mining sales and service center in Mesa, Ariz., Komatsu is set to grow its share of the North American market despite tariff concerns. As 2026 nears and possibly more clarity tariffs, Bull’s leadership will be critical for Komatsu and could set the model for the other foreign OEMs. 

Bobby Campbell, senior managing director and
head of commercial equipment finance, Gordon Brothers

Gordon Brothers launched its commercial equipment finance division in February and now offers loans, capital leases, TRAC and FMV leases to companies and finance groups, with Bobby Campbell, senior managing director and head of commercial equipment finance, leading the operation. The firm also expanded its commercial equipment finance business through a $1.5 billion joint venture with Davidson Kempner, backed by Wells Fargo Capital Finance, in September.  

Campbell joined Gordon Brothers in August 2024, following a 17-month stint as SVP and managing director of operations and strategic development at Flagstar Financial. He joined Flagstar after the collapse of Signature Bank in March 2023, where Campbell served in several roles over a decade, when New York Community Bank acquired Signature Bank and Signature Financial through its subsidiary Flagstar Bank. 

Through the lending arm and joint venture, Gordon Brothers can target several segments of the financing market at a time when capital remains tight for many lenders. The company sees strong demand from middle-market and large corporate clients in construction, manufacturing and transportation, Campbell previously told EFN. 

Henrik Carlborg, CEO, Ferronordic 

As the recently appointed CEO at global construction and truck equipment dealer Ferronordic, Henrik Carlborg will play a critical role in the Swedish company’s operations at a time of global economic uncertainty. Carlborg has deep institutional knowledge due to having risen through roles in legal, business development and U.S. expansion, according to a May 15 company release. 

Carlborg is now leading the company’s push to grow its financing and dealer-service operations across the U.S. and Europe amid headwinds in trade and infrastructure markets. 

Ferronordic reported that its U.S. equipment sales in 2024 represented about 1.3% of the total U.S. construction equipment market, according to the company’s 2024 annual report. As Ferronordic targets U.S. market share expansion despite global headwinds, Carlborg aims to demonstrate how international dealer models can succeed in North America, especially in 2026. 

Chris Craft, president and chief operating officer, 1st Source Bank Specialty Finance Group

As 1st Source Corp. Chairman and Chief Executive Christopher Murphy III transitions into the executive chairman role and passes on leadership of the bank and corporation, group leaders must do their part to ensure the next era of the bank.  

Chris Craft, who leads 1st Source’s more than $3.4 billion Specialty Finance Group, oversees financing across vehicle fleets, construction equipment and aircraft, according to the company. He heads into 2026 as a key part of the organization’s future.  

Under his leadership, the division has earned industry recognition, highlighting its differentiated strategy in a competitive market. With decades at 1st Source, Craft brings the expertise to navigate shifting capital, risk and technology dynamics, with his client-focused, disciplined approach, positioning him as a steady operator capable of balancing growth, credit quality and innovation in a volatile equipment finance landscape. 

Jeffry Elliott, founder and CEO, Elevex Capital 

Elevex Capital, which launched in January, has an opportunity to become a major independent player in the equipment finance industry. As the tech-first, digitally native leasing platform exits the startup stage, founder and CEO Jeffry Elliott looks to translate his more than 30 years of equipment finance experience into market success.  

Elevex is targeting the $100,000 to $2 million medium-ticket space following the June backing from two credit facilities of undisclosed amounts with Wells Fargo and Woodforest National Bank. 

Elliott plans to use Elevex’s technology to speed approvals, streamline risk management and expand access in underserved verticals, such as renewables, agriculture, and oil and gas, at a critical time for those industries.  

Elliott and his firm’s commitment to integrating AI, automation, and capital markets sophistication into the business will remain key in the new year. 

Kristin Esche, SVP, deputy chief counsel, Mitsubishi HC Capital America

As the regulatory and compliance landscape evolves in equipment finance, lenders must have access to significant legal expertise to avoid compliance violations. Mitsubishi HC Capital America bolstered its legal expertise ahead of potential regulatory changes in 2026 by bringing in Kristin Esche as senior vice president and deputy chief counsel in July. 

Esche brings more than 20 years of legal and regulatory experience, especially in financial services, compliance and financial technology innovation, gained during her time with John Deere Financial. She plans to shape embedded finance, risk and legal innovation in equipment leasing and lending.

Richard Karich, SVP and managing director for construction, industrial, capital markets and transportation, PNC Vendor Finance 

In a time when banks have pulled back or stopped originating equipment finance loans, PNC Vendor Finance represents one of the largest bank-owned U.S. equipment finance divisions. The company’s equipment lease financing portfolio reached $6.8 billion in the second quarter, up 1.6% quarter over quarter and 4.8% YoY, according to the company’s July 16 earnings release. 

As the division continues to grow, Richard Karich, senior vice president and managing director of construction, industrial, capital markets and transportation, will be critical to leading PNC vendor finance strategies in core industrial verticals. Under his oversight on program design, distribution partnerships, credit structuring and capitalization, the bank-owned vendor finance division looks to remain a market leader. 

Kyin Lok, CEO, Dext Capital

As CEO of one of the largest and fastest-growing private independent finance companies, Kyin Lok looks to continue Dext Capital’s growth next year. Dext originations grew by more than 100% during its fiscal first quarter 2025, despite challenging market conditions, so improving market conditions ahead of 2026 present an opportunity to continue that growth, especially since Dext has surpassed $2 billion in originations this year, reflecting strong execution and market traction. 

Kyin Lok’s 25 years of expertise in equipment leasing, vendor finance and commercial lending include leadership roles at GE Capital, U.S. Bank and TCF. His success launching business lines, managing acquisitions and structuring vendor programs positions Lok to expand Dext into new sectors while balancing capital, risk and operational complexity.  

Douglas MacLeod, president, CNH Industrial Financial Services 

At a time when CNH Industrial is looking to invest 1% of its annual profit in dealers as part of its business plan, Douglas MacLeod, president of financial services at CNH, leads the company’s captive finance operations. 

Moving into 2026, MacLeod leads the third-largest financing captive, with a managed portfolio of $28.7B, up 0.7% YoY, affording him direct influence on how financing supports global sales and customer retention across CNH’s agriculture and construction brands.  

Under his leadership, CNH renewed its long-term financing partnership with United Kingdom-based BNP Paribas Leasing Solutions, highlighting a push toward cross-border leasing and service-driven financing models, according to the company.  

With more than three decades of experience in capital markets and structured finance, including 15 years at both CNH and Fifth Third Bank, MacLeod is positioned to keep CNH competitive against independents and fintechs, particularly in structuring asset-backed leases, bundled services and regional financing platforms tailored to evolving customer needs. 

Josh Nickell, CEO, Northside Tool Rental

Building on his American Rental Association leadership, Northside Tool Rental CEO Josh Nickell is modernizing regional rental models, emphasizing customer experience innovation and data-driven fleet efficiency. Nickell, who became CEO in October 2024, plans to modernize operations and integrate more deeply into rental strategy.  

With more than 20 years of experience in rental operations and technology, Nickell aims to introduce more sophisticated financing, data and digital systems that can differentiate the company in a competitive and expanding rental market. Under his leadership, Northside represents a potential bellwether for how mid-sized rental companies evolve into finance-enabled platforms. 

The American Rental Association projects U.S. equipment rental revenue to rise 3.9% in 2025 to $80.9 billion, including $63.8 billion from construction and industrial rentals and $17.1 billion from general tool rentals, according to an Aug. 8 release. 

David Normandin, president and CEO, Wintrust Specialty Finance 

David Normandin, as president and CEO of Wintrust Specialty Finance, has built Wintrust’s vendor-finance and specialty equipment finance arm from inception into a $1 billion business. Normandin’s deep domain expertise enables him to help steer the firm toward innovation and scale just as the industry braces for disruption.  

Normandin also continues to be a key member of the Equipment Leasing & Finance Foundation, serving as both a trustee and the chair of its research committee, which positions him to influence industry standards and direction ahead of 2026. 

Wintrust delivered record growth in the first and second quarters, driven by strong specialty finance performance and a tech-focused strategy. In Q1, equipment finance balances reached $2.7 billion in capital leases, $1.1 billion in loans and $280.5 million in operating leases. By Q2, those totals rose to $2.8 billion in capital leases, $1.2 billion in loans and $289.8 million in operating leases, underscoring consistent momentum across the segment, according to the company’s earnings release. 

Jeff Pate, chief sales officer, Sany America

With Sany becoming the fifth-largest construction equipment manufacturer in 2024 with $10.8B or 6.2% of the total market, and closing in on Liebherr for the fourth largest, it enters 2026 as a premier player in the space. As a result, Sany America’s development in 2026, including the targeted expansion of its dealer network, sets both the American subsidiary and the Chinese parent company up for a big year.  

As chief sales officer for Sany America, Jeff Pate is responsible for the development of the dealer network, which includes over 75 North American-owned dealerships and more than 125 U.S. dealer locations for parts and service, according to Sany, as well as sales and marketing, all of which will be key for Sany America’s lending partners.  

With Sany’s aggressive North American growth push, Pate is reshaping the competitive map in construction equipment with a China-backed OEM gaining share. 

Kristy Phillips, EVP, documentation, Commercial Funding Partners 

Document management and compliance are critical for equipment financiers in an era of disclosure mandates and digital origination scrutiny. Commercial Funding Partners helped ensure its document-related operational success headed into 2026 with the promotion of Kristy Phillips to executive vice president of documentation in July, after less than a year with the company.  

Before joining Commercial Funding Partners, Phillips held vice presidential roles at Goldman Sachs for 17 months, Axos Bank for five years and Varilease Finance for more than 10 years, according to her LinkedIn profile.  

During her first year at Commercial Funding Partners, Phillips streamlined processes and accelerated workflows and now oversees all lease documentation to support CFP’s growth and commitment to operational excellence.  

CFP approved $36 million in funding in Q1, marking a strong start to the year, according to an April 22 CFP social media post. As other lenders seek the best way to navigate the changed lending environment heading into 2026, CFP has that key operational area locked down, thanks to Phillips’ 14 months with the company. 

Jenny Sablowski, VP of equipment finance, Transport Enterprise Leasing

With the launch of Transport Enterprise Leasing’s equipment finance division in March, TEL began to expand operations. Jenny Sablowski, vice president of equipment finance, played a critical role in establishing the division and will be just as crucial in 2026 as the division works on TEL’s expansion. 

Sablowski brings 25 years of experience across business development, credit, operations, remarketing and syndications, according to the company. That experience positions her to drive TEL’s financing expansion into heavy trucks, construction machinery, trailers and more. In Covenant Logistics’ Q2 results, its 49% equity‐method investment in TEL contributed $4.3 million in pre-tax net income, up 4.8% YoY, highlighting TEL’s growth as it pertains to its parent company, which the equipment finance division aims to further. 

Anthony Sasso, SVP and head of TD Equipment Finance 

With more than 20 years of leadership at TD Equipment Finance, Anthony Sasso continues to grow the division, which tallied $4.5 billion in assets in 2024, up 4.1% year over year, according to the 2025 Monitor 100. Sasso consistently pushes for disciplined structuring, deep asset-class expertise and strategic expansion into niche verticals while navigating macro headwinds. 

Prior to his 20-year tenure as head of TD Equipment Finance, Sasso served as vice president and head of business development for the brand for almost two years following a 15-year stint as head of equipment finance business development at Summit Bank. 

As a bank-owned equipment finance division, TD Equipment Finance continues to grow its portfolio amid a tight credit market. Sasso’s leadership opens the door for further growth in 2026 as the market eases.  

Eileen Schoonmaker, president for the Americas, PEAC Solutions

During an era of rapid growth at PEAC Solutions, Eileen Schoonmaker, who assumed her role in June, oversees all regional operations, including credit, risk, asset management, IT, HR and customer care, drawing on more than 35 years of equipment leasing and financial services experience. She previously held senior leadership roles at DLL and AT&T Leasing. 

At PEAC, she is steering aggressive U.S. expansion with the backing of a global capital base, while targeting vendor partnerships and mid-ticket opportunities that could shift competitive dynamics in the independent finance space, according to a May 19 company release.  

Her combination of operational oversight, strategic discipline and cross-border growth ambitions positions her to drive innovation and scale at one of the largest independent lessors in the Americas. PEAC Solutions reported strong U.S. growth in 2024, closing the year with $1.49 billion in new business volume, nearly tripling the $509 million funded in 2022, according to a Jan. 21 PEAC release. 

Jimmy Shoppa, CEO, Shoppa’s Material Handling 

As the material handling sector grows and more lenders make it a priority, equipment dealers look to capitalize on the market opportunity. One such dealer is Shoppa’s Material Handling, a Toyota material handling equipment dealer, which is one of the fastest-growing material handling dealers, with nine locations across Texas and one in Kansas City, Mo., according to the company. 

This year, for the 20th time, Shoppa’s Material Handling won the Toyota Material Handling President’s Award, a recognition given annually to top-performing dealerships across North America for excellence in customer satisfaction, sales, service and overall operations, according to an April Shoppa release. The achievement underscores Shoppa’s consistent performance and commitment to innovation, core tenets of Jimmy Shoppa’s four decades leading the dealership. 

CEO Jimmy Shoppa aims to lead the company through the expansion of operations to serve more manufacturers, distributors and retailers. Since Shoppa’s provides end-to-end solutions, from forklifts to advanced automation, the company’s poised to take advantage of the expanding U.S. material handling market, which projects to grow 73.4% to 16.3 billion by 2032.  

Ahmed Shubber, founder and CEO, Lumina

Lumina is a startup construction OEM that makes fully electric and autonomous equipment and aims to become “the Tesla of construction equipment,” according to the company. Founder and Chief Executive Ahmed Shubber is working to raise $20 million to $40 million in its series A round this year to support the company’s rapid growth. 

Shubber founded Lumina in 2021 to build electric, autonomous construction equipment, beginning with the Moonlander, a 32-ton electric bulldozer with fast-charging capabilities, according to his LinkedIn profile. Before starting Lumina, Shubber graduated with a double major in mechanical and biomedical engineering at Fairfield University. 

Lumina is at the forefront of electrification and autonomy in heavy equipment, having unveiled the Moonlander this year, according to the company’s LinkedIn.  

If Shubber reaches the money target by yearend, 2026 represents an opportunity for Lumina to reset the cost dynamics of construction equipment through capital-efficient innovation and radical operational models. 

Leland Wells, president, Briggs Industrial Solutions 

Leland Wells, named president in January, continues to accelerate Briggs Industrial Solutions’ growth across its material handling, truck, rail and warehouse businesses. Briggs Industrial Solutions’ total annual revenue was $500 million, according to the company. 

Since joining Briggs in 2015, he has held key regional leadership roles, giving him operational experience and institutional knowledge, according to Jan. 2 Briggs release. From 1998 to 2015, Wells advanced through procurement, supply chain and general management roles at Nokia, Flextronics, Lennox International and Baker Distributing, leading multimillion-dollar sourcing strategies and driving profitable growth in HVAC, refrigeration and food service product lines across Texas and surrounding markets. 

As president, Wells oversees both branch operations and centralized support functions, positioning him to align financing, rental, asset management and service strategies under a unified model for one of the largest equipment dealers and renters in the Southeast. His ability to balance growth with credit discipline and innovation amid supply chain pressures, credit cycles and shifting demand will be crucial as dealer and rental leaders adapt financing and operations in 2026. 

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