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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...
http://www.leasingnews.org/pictures_past/past_06-05-03.htm
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