New & Joint Ventures
American International Group, Inc. (AIG), New York, announces the formation and launch of AIG Commercial Equipment Finance, Inc. (AIG CEF), a new equipment finance and leasing company headquartered in Piano, Texas. AIG CEF will provide equipment lending and leasing services to mid-size and large commercial enterprises throughout the U.S., Canada and other selected international markets. William G. Farrell, Jr. and David B. Fate will serve as president and executive vice president of AIG CEF, respectively.
Main Street National Bank, Kingwood, Texas, announces that an investor group led by Thomas Depping has made an investment of over $21 million in the bank. Main Street will use these funds to capitalize its new equipment leasing division to provide funding to equipment leasing companies and lease brokers on a national basis. As a result of the transaction Depping was elected CEO and chairman of the bank’s board of directors.
Lease & Finance Consulting, LLC, Ridgefield, Connecticut, announces the creation of a consulting advisory practice to provide leasing support and consulting services directly to the leasing industry and support users of leasing products by providing advisory services. The company’s management team is headed by Lisa Lersner.
The Nautilus Group, Vancouver, Washington, enters into a long-term strategic alliance with GE Commercial Finance, Vendor Financial Services to provide its commercial fitness customers with financial solutions.
Copyright Equipment Leasing Association of America Nov/Dec 2004
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