Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
In the Marketplace
Huntington Bancshares Inc. of Columbus, OH, has completed its acquisition of Michigan-based Macquarie Equipment Finance, Inc. ( MEF-US ) from its parent company, Sydney, Australia-based Macquarie Group Ltd . The acquisition is expected to be accretive to Huntington's earnings in 2015. Under the terms of the agreement, Huntington acquired approximately $900 million of assets and assumed approximately $630 million of debt, securitizations, and other liabilities.
CBank of Cincinnati, OH, and Commercial Industrial Finance (CI Finance) of St. Louis, MO, have announced a proposed agreement for CBank to acquire CI Finance, an equipment leasing and finance business. The acquisition is scheduled to be completed early this month, pending the bank board of directors' approval. The resulting entity will be a wholly owned subsidiary of CBank and operate as a CBank company. The business will continue to operate with the CI Finance name and the current management team.
CIT Group Inc. has named Eric Miller managing director and group head of CIT Capital Equipment Finance. He will report directly to Burt Feinberg, president and group head of CIT Corporate Finance, Commercial & Industrial. Prior to joining CIT, Miller served as a managing director for GE Capital in'its Corporate Finance division.
National Funding of San Diego has expanded into the middle-market lending segment and will now target medium-sized businesses that are in need of financing from $250,000 to $1 million. A private lender of small business loans, National Funding had focused primarily on the small business segment and provided the majority of its loans under the $250,000 mark. To lead its new initiative, the company has hired Todd Stichler as director of middle market lending. He was formerly managing director of LendSpark, a San Diego-based middle-market lender that arranged financing for small and medium-sized businesses in various phases of the business cycle.
Element Financial Corp. of Horsham, PA has named Craig Jackson vice president of its Asset Management group. He will oversee residual settings, asset management studies, and remarketing efforts. He will report to David Kovacs, senior vice president of portfolio and asset management. Jackson previously held senior level roles at ICON Investments and Chancellor Fleet Corporation .
Santander Bank, N.A. of Boston announced that Vincent Belcastro has been appointed group head of equipment finance. He will be responsible for growing the team and business focused on financing activities for equipment lending, leasing, and structured finance on a national scale. Belcastro formerly held management positions at CIT Group Inc. , Citibank , Republic National Bank and Bankers Trust ( Deutsche Bank ).
CorTech Leasing, Inc . of Newport Beach, CA, has hired Chuck Dale as senior vice president of operationsand syndications. Prior to joining CoreTech, Dale held senior management positions at global and Fortune 500 companies, including as senior vice president at Macquarie Corporate & Asset Finance, Comdisco, and GE Capital.
Seabury Group of New York has formed Seabury Equipment Finance Group LLC (SEFG). The new company will provide multinational manufacturers across a broad range of industries with supplier-based finance solutions. SEFG will be lead by Christopher Lyle, president & CEO, and Justin P. Goheen, chief operating officer. Seabury, the parent company, is a global advisory, software and capital markets/asset management group with clients in Aviation, Aerospace & Defense, Government, Financial Exchanges and Financial Services, Insurance, IT/Software, Travel, Transportation and related industries.
Century Tokyo Leasing (USA) Inc. ( CTUSA ) of Purchase, NY has opened a new aircraft finance unit in Centennial, CO. Managing the new office will be Keijiro (Kei) Yokoyama, deputy general manager, and Keita Sekiguchi, manager of the Century Tokyo Aviation Finance Division. CTUSA finances and leases various types of equipment for commercial, industrial and corporate customers including IT/systems, construction and industrial machinery, machine tools, healthcare equipment, office products, and commercial vehicles.
'
Huntington Bancshares Inc. of Columbus, OH, has completed its acquisition of Michigan-based Macquarie Equipment Finance, Inc. ( MEF-US ) from its parent company, Sydney, Australia-based Macquarie Group Ltd . The acquisition is expected to be accretive to Huntington's earnings in 2015. Under the terms of the agreement, Huntington acquired approximately $900 million of assets and assumed approximately $630 million of debt, securitizations, and other liabilities.
CBank of Cincinnati, OH, and Commercial Industrial Finance (CI Finance) of St. Louis, MO, have announced a proposed agreement for CBank to acquire CI Finance, an equipment leasing and finance business. The acquisition is scheduled to be completed early this month, pending the bank board of directors' approval. The resulting entity will be a wholly owned subsidiary of CBank and operate as a CBank company. The business will continue to operate with the CI Finance name and the current management team.
National Funding of San Diego has expanded into the middle-market lending segment and will now target medium-sized businesses that are in need of financing from $250,000 to $1 million. A private lender of small business loans, National Funding had focused primarily on the small business segment and provided the majority of its loans under the $250,000 mark. To lead its new initiative, the company has hired Todd Stichler as director of middle market lending. He was formerly managing director of LendSpark, a San Diego-based middle-market lender that arranged financing for small and medium-sized businesses in various phases of the business cycle.
Element Financial Corp. of Horsham, PA has named Craig Jackson vice president of its Asset Management group. He will oversee residual settings, asset management studies, and remarketing efforts. He will report to David Kovacs, senior vice president of portfolio and asset management. Jackson previously held senior level roles at ICON Investments and Chancellor Fleet Corporation .
Santander Bank, N.A. of Boston announced that Vincent Belcastro has been appointed group head of equipment finance. He will be responsible for growing the team and business focused on financing activities for equipment lending, leasing, and structured finance on a national scale. Belcastro formerly held management positions at
CorTech Leasing, Inc . of Newport Beach, CA, has hired Chuck Dale as senior vice president of operationsand syndications. Prior to joining CoreTech, Dale held senior management positions at global and Fortune 500 companies, including as senior vice president at Macquarie Corporate & Asset Finance, Comdisco, and GE Capital.
Seabury Group of
Century Tokyo Leasing (USA) Inc. ( CTUSA ) of Purchase, NY has opened a new aircraft finance unit in Centennial, CO. Managing the new office will be Keijiro (Kei) Yokoyama, deputy general manager, and Keita Sekiguchi, manager of the Century Tokyo Aviation Finance Division. CTUSA finances and leases various types of equipment for commercial, industrial and corporate customers including IT/systems, construction and industrial machinery, machine tools, healthcare equipment, office products, and commercial vehicles.
'
Generative AI and the 2024 Elections: Risks, Realities, and Lessons for Businesses
GenAI's ability to produce highly sophisticated and convincing content at a fraction of the previous cost has raised fears that it could amplify misinformation. The dissemination of fake audio, images and text could reshape how voters perceive candidates and parties. Businesses, too, face challenges in managing their reputations and navigating this new terrain of manipulated content.
How Secure Is the AI System Your Law Firm Is Using?
What Law Firms Need to Know Before Trusting AI Systems with Confidential Information In a profession where confidentiality is paramount, failing to address AI security concerns could have disastrous consequences. It is vital that law firms and those in related industries ask the right questions about AI security to protect their clients and their reputation.
Pleading Importation: ITC Decisions Highlight Need for Adequate Evidentiary Support
The International Trade Commission is empowered to block the importation into the United States of products that infringe U.S. intellectual property rights, In the past, the ITC generally instituted investigations without questioning the importation allegations in the complaint, however in several recent cases, the ITC declined to institute an investigation as to certain proposed respondents due to inadequate pleading of importation.
Authentic Communications Today Increase Success for Value-Driven Clients
As the relationship between in-house and outside counsel continues to evolve, lawyers must continue to foster a client-first mindset, offer business-focused solutions, and embrace technology that helps deliver work faster and more efficiently.
Warehouse Liability: Know Before You Stow!
As consumers continue to shift purchasing and consumption habits in the aftermath of the pandemic, manufacturers are increasingly reliant on third-party logistics and warehousing to ensure their products timely reach the market.