Huntington's Equipment Finance Group To Expand Into Business Aviation, Rail And Lender/lessor Financing
Industry Veterans to Drive Revenue and Fuel Growth
COLUMBUS, Ohio, Nov. 10, 2010 /PRNewswire-FirstCall/ -- Huntington (Nasdaq: HBAN) (www.huntington.com) has appointed three industry veterans to launch new specialty asset financing segments and augment growth in its equipment finance business. The expansion will target large and mid-sized companies within the business aviation and rail industries, as well as lending to specialty equipment lessors and lenders.
"Current market conditions have created the opportunity for a strong, knowledgeable, and responsive financial service provider to enter these segments," said Rick Remiker, president of Huntington Equipment Finance. "Our customer relationships, on-going industry involvement, and deep market knowledge that we've developed in these vertical segments will allow Huntington to build an important market position and provide our clients with exceptional value."
To support its continued expansion and growth, Huntington has hired these industry experts:
-- Richard Barret will direct Huntington's business aircraft financing segment, specializing in corporate and business aviation finance. Barret, who most recently was with RBS Asset Finance, brings more than 30 years of aircraft financing experience to Huntington.
-- Kip Curran will lead Huntington's rail financing segment, specializing in providing long-term tax and non-tax financial solutions to class one railroads, railcar operators, and shippers. Curran has more than 10 years of rail finance experience. Prior to joining Huntington, he was a specialist in rail finance with LaSalle National Leasing Corp. and Maxus Leasing Group.
-- Michael Labrum will head Huntington's lender finance segment, providing highly structured debt facilities and full banking services to specialty asset finance and leasing companies. Labrum has more than 20 years of lender finance experience and most recently led PNC's Lender Finance business segment.
"All of these industry leaders have significant experience in their respective specialty asset finance areas," said Remiker. "Their market knowledge and expertise will be a driving force in positioning Huntington Equipment Finance as one of the nation's most important equipment financing providers."
Huntington Bancshares Incorporated is a $53 billion regional bank holding company headquartered in Columbus, Ohio. Through its affiliated companies, Huntington has been providing a full range of financial services for 144 years. Huntington offers checking, loans, savings, insurance and investment services. It has more than 600 branches and also offers retail and commercial financial services online at huntington.com; through its telephone bank; and through its network of over 1,350 ATMs. Huntington's Auto Finance and Dealer Services group offers automobile loans to consumers and commercial loans to automobile dealers within our six-state banking franchise area, as well as selected New England states.
The logo mark and Huntington® are federally registered service marks of Huntington Bancshares Incorporated.
SOURCE Huntington Bancshares Incorporated
Released November 10, 2010