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Join TMA Northeast for our annual presentation on the state of asset-based lending in a changing economy. As we all continue to ponder the direction that the economy and lending will take in 2011, we will hear from representatives of five major ABL lenders: RBS Citizens, Wells Fargo Capital Finance, PNC Business Credit, Bank of America and Sovereign Bank. This year’s panel will discuss the impact of an improving economy on ABL lending, whether there is a return of cash flow lending and mezzanine lenders, the impact on ABL lenders of changes in the pricing and structure of lending facilities, the effect of rising commodity prices on ABL lenders, and other issues that will affect ABL lending in 2011 and beyond. This presentation is always a highlight of TMA Northeast’s program year, but in a rapidly changing lending environment, this is a vital session for anyone trying to assess the availability and structure of financing, whether working with borrowers or lenders.
About Our Panel
CHRIS CARMOSINO is an Executive Vice President of RBS Citizens, N.A., and President of its RBS Business Capital division. Chris also serves as Division Executive for RBS Citizens’ Not For Profit and Professionals Banking divisions. Chris joined RBS Citizens 2006 as Executive Vice President and head of RBSBC’s Northeast division. Chris spent most of his 25 year career in various asset-based lending, leveraged lending and capital market activities. Prior to joining RBSBC, Chris managed the Asset-Based Syndicated Loan team for Bank of America, which was the national leader in asset-based loan syndication. Chris led the Loan Syndication division at Fleet Bank, where he managed a group responsible for loan structuring, distribution and trading, as well as mezzanine and private placements. Previous experience includes various roles in asset-based lending, middle market corporate banking and leveraged finance at Bank of Boston and Fleet Bank.
CHARLES GAROKLANIAN has been Senior Vice President, Northeast Market Manager for PNC Business Credit since joining PNC in July 2001. Charles and his team of bankers are responsible for sourcing and managing all senior secured transactions in the Northeast with special emphasis on asset based loans, a large percentage of which contain cash flow or second lien tranches within the structures. Used for a wide variety of purposes including acquisition financing, recapitalizations and turnaround financing, Charles’s group is part of the larger national PNC Business Credit organization whose footprint stretches throughout the entire country as well as Canada and the United Kingdom. Charles has been involved in asset based lending and leveraged finance in various roles throughout his career at Deutsche Bank, Fleet Capital, and Manufacturers Hanover Trust Co. where he began his career.
HOLLY KACZMARCZYK is the Executive Vice President and Division Manager of the Business Credit Division of Wells Fargo Capital Finance, based in Charlotte, N.C. Holly joined Wachovia in 2002 as a senior underwriter, and in 2005 she was promoted to head of underwriting and execution. In 2007 she became Southern region executive before being named as the head of the Business Credit division in 2010. Holly earned her undergraduate degree from Millikin University in Illinois and a master’s degree in International Management from the American Graduate School of International Management in Arizona. She speaks several languages, including Spanish, Polish and German, and is an active member of the Commercial Finance Association.
PAUL KELLY is the Director, Specialty Finance Group at Sovereign / Santander. His responsibilities include Asset Based Lending, Automobile Finance, and Mortgage Warehouse. From 2010 to 2011 Paul was the Regional Business Executive for New England Asset Based Lending and Automotive Finance, and from 2005 – 2009, he served as the Asset Based Lending Market Leader for Business Development. Prior to joining Sovereign / Santander Paul was the New Business Development Officer responsible for the New England territory for RBS Business Capital, from 1998 – 2005. Paul began his career with Shawmut (which became BayBank, then BankBoston) in 1989 as an ABL Field Examiner, later serving as the Bank’s Asset Based Lending Relationship Manager.
JOSEPH POWERS is Senior Vice President, Marketing Manager for the East Division of Bank of America Business Capital. Joe manages a team of professionals located throughout the East Coast and in London. His team provides asset-based solutions to large and middle-market companies, intermediaries and financial sponsors. Joe also specializes in working with distressed companies and their advisors, involved with in-court and out of court restructurings. Joe has been with Bank of America for more than thirteen years. He was also a team leader with GE Capital Commercial Finance and started his career at Manufacturers Hanover Trust. Joe received an A.B. from Dartmouth College and an MBA from New York University.
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