Van Etten Leasing
(“Vel, vhat da you tink?” asked the Dutchman.)
Leasing News has confirmed a good portion of this, but do not know if Sterling Bank is involved and whether “Salesstream” is the marketing concept, or
“broker business.” Fred Van Etten good naturedly just laughed and asked us to wait.
Is Sierra Cities rising from the ashes, without Thomas J. Depping. One thing for sure, Jim Raeder and Mark McQuitty are expanding their current business across the country, most of the other officers have retired, even Charlie Lester now only does medical/dental working capital loans, not leases.
There definitely are not that many national players in the broker funding
marketplace compared to several years ago. Come to think of it, there
are less leasing brokers around, too.
Leasing News is told a formal announcement will be made to the leasing community within 30 days.
In case you missed it in our “odds and ends” on Monday, July 21st:
“I heard that Hernan Traversone, VP Credit and Ric Anderson have left AMEX
BF as of this week. If that s the case, they would certainly represent more than
just . . . another shoe dropping.”
(name with held)
(I am trying to confirm ( or get denial) on this. I do know that Michael Galan
Collections Team Leader of American Express Business Finance is leaving
to move back to Florida, but believe it was voluntary. Maybe he knows
something, too, as if Sandy Weill, the CEO of Citigroup, is stepping down at the end of the year, as the New York Post reported, will he try and close out his career with the acquisition of American Express to top his deal with Sears
As to Traverson and Andersson, I have heard from the grapevine they have joined
Fred Van Etten, who they worked with at Sierra Cities. A well-informed source
also tells me he thinks Roger Gephardt is with Van Etten. He was VP of First Sierra handling the securitizations. He came to First Sierra from First Union Bank in 1995 or 96. Brilliant man that knows everything about securitization, Leasing News is told. He also left American Express to join Van Etten, maybe as long ago as 18 months ago...