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In The Marketplace

By ALM Staff | Law Journal Newsletters |
June 30, 2004

Bank of America of Charlotte, NC has named Doug Bowers to lead its Bank of America Leasing business. He will be responsible for leading the company's leasing businesses worldwide, continuing to build its direct lease originations efforts in middle market, large corporate, vendor, corporate air, municipal, health care and small business. Most recently, Bowers was managing director of the Bank of America Leasing and Capital Group and responsible for the company's wholesale leasing businesses. He will be based in Charlotte.

Bernstein Law Firm of Pittsburgh has announced that Christopher Boback has joined the firm as an associate attorney. He will focus on commercial and retail collection litigation and bankruptcy.

Fairfield Capital Services, LLC (FCS) of New Canaan, CT has been formed by Dana Pasternak, a 30-year veteran of the equipment leasing, commercial finance, and investment banking industries. FCS is a financial services company that will provide financial advisory and capital raising services to middle-market ($50 to $500 million in annual revenues) and highly leveraged companies. The target markets for FCS will consist of:

  • Issuers ' companies borrowing on a secured basis and having annual revenues in the range of $50 to $500 million;
  • Leasing/Finance Companies ' agreements, or portfolios thereof, and not having the internal resources to do so; and
  • Vendors ' manufacturers of capital equipment who require a customer financing source to assist in the growth of their businesses.

Fitch, Inc. of New York has released its first-quarter 2004, Fitch Ratings' U.S. equipment lease asset-backed securities (ABS) delinquency index, which reached another record low, according to the latest edition of “The ABS Equipment Expo.”

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