SUMMARY
An international equipment leasing and finance executive with proven business judgement, high ethics, and excellent team building skills. Built a start-up commercial finance company to a multi-billion dollar organization. Hired, trained, and directed a corporate support team and global sales force that ultimately developed an origination rate of $750,000,000 of equipment lease financing per year. In addition, reorganized and turned a profit for four European leasing companies, and a domestic vendor finance business. Proficient in all aspects of the capital equipment sales, leasing, and remarketing industry; from new business development to credit and portfolio management. Have both domestic and international P&L experience. Outstanding workout and reorganization skills. Equipment finance experience ranges from small ticket and middle market to highly sophisticated tax leveraged leasing and syndication. General capital equipment knowledge with an expertise in the IT, medical, and aircraft sectors.
EXPERIENCE
CAPITAL RESOURCES, LLC Syracuse, NY January 2005-Present
Managing Partner / Director of Sales & Marketing
In partnership with equipment manufacturers, distributors, and resellers, developed leasing programs for their customers. Worked directly with C level executives in structuring various forms of finance, and operating type leases.
Negotiated required lease funding documentation, and program agreements.
Increased the company?s breadth of financial offerings by developing a coalition of select financing sources to provide funding for credits that range from start-ups to Fortune 1000 customers.
Designed a new corporate website. The website provides key leasing information for equipment vendors and their customers. In addition, the site provides real time access to lease applications, contracts, and pricing.
Collaborated with a private investment group to develop a lease funding program for a recently acquired telecommunications company.
UNISTAR LEASING, Syracuse, NY April 1997-December 2004
An equipment finance company specializing in developing vendor leasing programs for equipment manufacturers, distributors, and resellers.
President
Inherited a corporate accumulated net loss in excess of $1,100,000. During very difficult economic times, was able to process over 12,000 lease applications with an equipment cost of $150,000,000 and to generate accumulated net profits in excess of $3,440,000. This turnaround was accomplished by increasing operating efficiencies, establishing additional vendor relationships, and employing advanced portfolio management techniques.
Reduced overhead sixty percent by installing a new application processing system that tracked the status of each lease application, and automatically generated all credit and lease documentation. The system also provided custom designed management reports.
Renegotiated existing funding programs and negotiated new programs that generated up front fee income, and allowed the company to capture additional income from lease renewals and residual values.
Chaired a committee that evaluated new lease accounting and general ledger systems to replace the existing antiquated system. The committee?s recommendations resulted in the installation of new hardware and software that dramatically increased operating efficiencies and customer service.
Wrote new operating procedures and comprehensive credit guidelines incorporating a credit scoring model to reduce default rates and increase profit.
Developed vendor finance programs for 750 equipment vendors. Furthermore, created a prospect database of over 12,500 equipment manufacturers, distributors, and resellers.
CAPITAL RESOURCES, LLC Syracuse, NY 1996-March 1997
An equipment leasing brokerage company.
Managing Partner
Originated and financed leases with an equipment cost of $10,000,000.
CIS CORPORATION, Syracuse, NY. 1976-1995
A multi-billion dollar solution-oriented computer and capital equipment sales, leasing, and remarketing company.
Senior Vice President, Chief Marketing and Sales Officer 1992-1995
Served on the Executive Committee that was responsible for developing the corporate mission statement and the business strategy that streamlined the organization and improved procedures and policies, reducing operating expense by 31% and substantially improving customer service.
As a member of the senior management team, was responsible for evaluating, approving, and managing corporate investments in highly complex multimillion dollar transactions involving the buying, selling and leasing of computer and telecommunication systems, aircraft, rolling stock, medical equipment, and other productive capital assets.
Reorganized and expanded the Computer Sales Force, Telemarketing Department, and Product Management Group to form a cohesive team of over one hundred professionals to manage the existing $1.8 billion computer lease portfolio. The team increased new business origination by 22% while generating a return on assets in excess of 20% through solution-oriented marketing and sales strategies.
Designed and implemented a comprehensive computerized sales compensation plan that directed, motivated, and fairly compensated sales personnel for equipment sales and lease originations while simultaneously providing the necessary responsibility and accountability for profit and loss.
Increased revenue by developing over one thousand global reseller and wholesale distribution channels to remarket equipment from the computer lease portfolio that ultimately comprised over 22,000 leases and 330,000 units of enterprise mainframe, midrange, storage, printing, communication, banking, desktop, and network equipment.
Directed the development and the initial implementation of a detailed corporate budget and $200 million revenue plan.
Senior Vice President, Chief Reorganization Officer 1990-1991
Spearheaded the company's reorganization program. Hired, trained, and directed a team of specialists that were responsible for researching UCC filings, wrap and end-user leases, security agreements, subleases, and remarketing contracts. The team worked closely with the corporate legal staff to negotiate new agreements with investors, lending institutions, and customers that resulted in an additional benefit to the company of over $220 million.
Vice President International and General Manager of Europe 1986-1989
Complete profit and loss responsibility. Full accountability for the strategic planning, development and leadership of the European and Pacific Rim companies.
Recruited and trained key multinational management and sales personnel and thereafter drove international lease revenue from $8.6 million to $122.5 million (1,424.4%).
Increased market penetration by creating a new company in England. Improved procedures and policies for the three existing companies in Germany, France, and Switzerland, reducing administrative expenses by 28% and increasing customer service.
Installed a new cost effective PC-based international management information system that produced measurable improvements in data integrity and the utility value of management reports.
Enhanced customer service and increased corporate revenue through the development of an equipment finance and management program that provided multiple currency financing for worldwide computer acquisitions and remarketing. The program also provided computer transport, cycle conversion, reconfiguration, refurbishment, and installation services.
Negotiated successful trade agreements with several Japanese Trading Companies that resulted in the trading of over $25 million of IBM computer equipment between Japan and the company's domestic and international operations.
Provided over $40 million of lease financing to fund the acquisition of computer hardware and software required for a new European Aircraft Reservation System. This was one of the largest computer transactions structured, financed, and managed by an independent equipment leasing company in Europe.
Orchestrated the acquisition of nine commercial aircraft with a fair market value of $29 million and the subsequent lease to a European client.
Personally generated additional domestic revenue of $22 million and an extraordinary net profit of $9.5 million (95% ROI) by developing and implementing a business plan to purchase and re-market used commercial aircraft in Europe and the United States.
Vice President, Business Development 1985
Vice President, Marketing and Sales 1981-1984
Increased revenue from $43 million to $153 million (355%) and net income before taxes from $4.58 million to $8.8 million (192%).
Developed a national expansion program for the computer sales force to change the company's focus from a regional concentration to a national presence that eventually resulted in the addition of over one hundred sales representatives and twenty-nine strategically positioned sales offices throughout the United States.
Increased the company's competitive advantage by creating and managing a Computer Product Management Group that was responsible for portfolio management and wholesale product distribution. Additional responsibilities included gathering, analyzing, and disseminating information to the retail sales force about market trends, equipment pricing, technical data, logistics, lease structures, and residual value projections.
Enhanced revenue through the creation of a Telemarketing Group that generated sales leads, provided information to the end-user community about the company's products and services, and updated the company's proprietary customer data base by canvassing over 14,000 large and midrange systems users in the United States.
Product/Sales Manager 1979-1980
Product Manager 1978
Developed a strategic business plan that launched the company into the computer disk, tape, printer, communication and systems sales and leasing marketplace in addition to its traditional IBM, Amdahl, and Hewlett-Packard (HP) mainframe business. The implementation of this plan eventually contributed to approximately 50% of the company's annual profit.
Regional Sales Director 1976-1977
Achieved the highest profit margin on the team during the first year as a Sales Representative. During the second year, achieved the highest profit margin and percentage of quota (214%) and named "Salesman of the Year."
XEROX CORPORATION 1974-1975
Sales Representative
Graduated from the Xerox Center for Training and Management Development at the top of the class with over 160 hours of instructional credit.
Based on performance, was designated the top producing Area Sales Representative.
EDUCATION
M.B.A., Syracuse University, Syracuse, NY
B.S., Oregon State University, Corvallis, OR
Beta Gamma Sigma, National Business Honorary
PROFESSIONAL AFFILIATIONS
Who's Who in Finance and Industry
American Management Association
Equipment Leasing and Finance Association (ELFA) |
