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Key Equipment Finance Consolidates Syndications Buy and Sell Group
SUPERIOR, Colo., USA – October 9, 2003– Key Equipment Finance, a global leader in equipment financing and an affiliate of KeyCorp (NYSE: KEY), today announced the consolidation of its Syndications Buy and Sell team to a single location at Key Equipment Finance’s world headquarters outside Boulder, Colo.
“Key Equipment Finance provides a broad array of lease financing solutions, including buy and sell syndication support, to many industry sources,” said Paul W. Frechette, president and chief operating officer for Key Equipment Finance’s commercial leasing services unit. “By bringing our experienced syndications professionals together in one location, we can take advantage of talent synergies as well as workplace efficiencies that allow us to seamlessly serve our clients.”
The Key Equipment Finance Buy Desk focuses on middle market and investment grade prospects with annual revenues of at least $50 million. With lease funding products that serve a wide range of needs, Key Equipment Finance offers single investor tax and synthetic leases, debt transactions and portfolio purchases. The group buys domestic transactions starting at $500,000 and has originated and managed distribution for many office environments, ground and marine transportation, manufacturing equipment, corporate aircraft, energy and telecom transactions $50 million and larger for both investment grade and non-investment grade clients.
The Key Equipment Finance Sell Desk deals with transactions originated by a nationwide sales force. As a group, the sales team has expertise in several asset categories including corporate aircraft, office environment, and ground and water transportation. Key Equipment Finance also supports the KeyBank system throughout its service area, and originates transactions for sale or participation from the banking group involving middle market and investment grade clients. The company’s non-bank regions originate medium-to-large ticket transactions for sale from more than 11 offices nationwide.
The newly consolidated Key Syndications team includes:
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Joseph McCusker, is senior vice president and director of Syndications. McCusker joined Key Equipment Finance in January 2002. He has more than 30 years of experience in the equipment financing industry, which includes an extensive background in middle market and large ticket equipment leasing and structured finance. His experience includes sales and sales management, syndications and syndications management. Prior to joining Key Equipment Finance, he was senior vice president and business unit manager for Provident Commercial Group (a Cincinnati, Ohio, bank-based equipment lessor) where he managed credit, documentation and sales personnel as they originated and syndicated equipment leasing and financing transactions.
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Becky J. Hanley, vice president, Syndications Sell, has been in the leasing industry for seven years and joins Key Equipment Finance from CitiCapital Commercial Corporation where she was a syndications manager. At Key Equipment Finance she is responsible for the Northeast Bank and National Division East sales regions. Becky and her husband have relocated to Colorado from the Dallas/Fort Worth area.
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Gary Huffman, vice president, Syndications Buy, has been with Key for 14 years, having spent the last three years working on the Syndications Sell desk where he supported approximately half of the sales force. Huffman has worked in the equipment leasing industry for 19 years and previously managed the western division of Key Equipment Finance’s National Sales Division.
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Thomas E. Lulich, vice president, Syndications Sell, has been in the banking/leasing industry for 24 years, most recently vice president of syndications at US Bancorp Equipment Finance, Inc. Lulich will manage the Syndications Sell activities for the Northwest Bank and National Division West sales regions. He and his family have moved to Colorado from Portland, Oregon.
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Jim Mestnik, vice president, Syndications Sell, joined Key Equipment Finance in March 2002 and spent the preceding 13 years in credit, pricing and syndications for Republic Financial Corporation, Capital Associates and Clipper Financial. Mestnik syndicates Key Equipment Finance transactions generated in the Great Lakes region of the bank as well as all corporate aircraft transactions.
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Bennett F. Viverito, vice president, Syndications Buy, has been in the leasing and banking industry for 30 years. Prior to joining Key Equipment Finance, he was managing director of the Capital Funding Group for Fleet Capital Leasing. At Fleet, Viverito focused on buying investment grade paper. He is looking forward to the challenge of developing more middle market business while taking Key Equipment Finance into more investment grade transactions. He and his family have relocated to Colorado from Rhode Island.
About Key Equipment Finance
Key Equipment Finance is an affiliate of KeyCorp (NYSE: KEY) and provides business-to-business equipment financing solutions to businesses of many types and sizes. They focus on four distinct markets:
- businesses of all sizes in the U.S. and Canada (from small business to large corporate);
- equipment manufacturers, distributors and value-added resellers worldwide;
- federal, provincial, state and local governments as well as other public sector organizations; and
- lease advisory services for manufacturers’ captive leasing and finance companies.
Headquartered outside Boulder, Colorado, Key Equipment Finance oversees an $8.7 billion equipment portfolio with annual originations of approximately $3.5 billion. The company has major management and operations bases in Toronto, Ontario; Albany, New York; London, England; and Sydney, Australia. The company, which operates in 24 countries and employs more than 600 people worldwide, has been in the equipment financing business for 30 years. Additional information regarding Key Equipment Finance, its products and services can be obtained online at KEFonline.com.
Cleveland-based KeyCorp is one of the nation’s largest bank-based financial services companies, with assets of approximately $85 billion. Key companies provide investment management, retail and commercial banking, retirement, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally. The company's businesses deliver their products and services through KeyCenters and offices; a network of approximately 2,400 ATMs; telephone banking centers (1.800.KEY2YOU); and a Web site, Key.com, that provides account access and financial products 24 hours a day.
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