Toronto, Canada
Toronto, Canada

CIT Group Inc. is a United States financial holding company founded in 1908 with more than $35 billion in finance and leasing assets. The company's name is an abbreviation of an early corporate name, Commercial Investment Trust. It provides financing and leasing capital to its middle market clients and their customers across more than 30 industries. CIT maintains leadership positions in middle market lending, factoring, retail finance, aerospace, equipment and rail leasing, and global vendor finance. CIT also operates CIT Bank , BankOnCIT.com, its primary bank subsidiary, which offers a suite of online savings options designed to help customers achieve a range of financial goals.The company is part of the Fortune 500 and was a part of the S&P 500 Index until it was replaced by Red Hat at the close of trading July 24, 2009. The Company is headquartered in New York City, and employs approximately 3,700 people in locations throughout North America, Europe, Latin America, and Asia Pacific. It declared Chapter 11 bankruptcy on November 1, 2009, and with the consent of its bondholders proposed to quickly emerge from bankruptcy court proceedings. The Company emerged from bankruptcy 38 days later on December 10, 2009. Wikipedia.

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News Article | May 4, 2017
Site: www.businesswire.com

SAN FRANCISCO--(BUSINESS WIRE)--White Oak Global Advisors, LLC (White Oak) announced that it has expanded the company’s leadership team and welcomes Kenneth Wendler as Partner, Chief Credit Officer and Member of the Investment Committee. Mr. Wendler was most recently Chief Credit Officer for the Commercial Finance business at CIT where he served as Chairman of the Investment Committee, as well as Deputy Chief Credit Officer for CIT Group and Vice Chairman of CIT’s Investment Committee. “Kenneth brings decades of commercial finance experience to White Oak, having worked for one of the largest and well-established institutions in the sector. We believe he will bring tremendous value to our organization and support our growth,” said Andre A. Hakkak, Chief Executive Officer and Co-Founder, White Oak. Previously, Mr. Wendler was Head of the Problem Loan Management Group at CIT and led Citigroup Capital Solutions, a middle market lending unit at Citigroup. He will be replacing Dr. Ali Amiry on the Investment Committee as Dr. Amiry will be retiring and focusing on special projects for White Oak from time to time. Mr. Hakkak concluded, “We would like to thank Dr. Amiry for his many years of service and commitment to White Oak.” White Oak Global Advisors, LLC is a leading global alternative asset manager specializing in originating and providing financing solutions to facilitate the growth, refinancing and recapitalization of small and medium enterprises. Since its inception in 2007, White Oak Global Advisors, LLC’s disciplined investment process focuses on delivering risk-adjusted investment returns and establishing long term partnerships with our borrowers. More information can be found at www.whiteoaksf.com.


News Article | April 19, 2017
Site: www.prweb.com

Mr. Enyeart will be responsible for all day to day operations within FNCC including Sales & Marketing, Risk & Syndication, Accounting, Documentation, and all back-office functions. Keith Duggan will continue his daily involvement with the company with the title of Chief Executive Officer and Director. Keith is anxious to focus more efforts on strategy, strategic alliances, funding relationships, portfolio management and key client relationships. Mr. Enyeart will undoubtedly continue First National Capital’s 12+ year record of success in meeting customers’ financing needs, while practicing prudent risk management to further grow the Company and First National's portfolio. “Steve has been a key part of our success and we are thrilled to promote him to this important role. He has proven to be a successful and trusted leader while bringing to this position a wealth of experience in credit, leasing and capital markets. Steve is widely respected by all of our constituents, including our employees, clients, funding relationships and banking partners. This is the natural 'next step' for First National as we continue our growth in the equipment finance market," said Keith Duggan, CEO of First National. Mr. Enyeart, who currently serves as FNCC’s chief operating officer, brings over 27 years of experience in capital markets, equipment finance, ABL lending and risk management, having held previous positions with Marine Midland Bank, The CIT Group, Orix USA Corporation and Orion Capital Corporation. Mr. Leyenaar’s role in Credit, Syndication and Risk management will also expand to include management and oversight of all of FNCC’s Capital Markets relationships and activity. “Peter has demonstrated excellent credit and risk management skills, superior decision making and great leadership during his tenure with First National. We fully expect him to carry on the high standards for the Capital Markets team that were established by Steve Enyeart previously,” commented Duggan. Duggan continued on to say "with these promotions, our recent conversion to an ESOP structure and additional expansion efforts, we expect First National to achieve a record year of performance." With offices in Foothill Ranch, Anaheim Hills, California; Houston, Texas; and Nashville, Tennessee, First National Capital Corporation provides creative and cost-effective equipment finance and leasing solutions to a wide range of capital-intensive industries including aviation, construction, manufacturing, energy and mining, healthcare, technology, retail and distribution/logistics. The Company’s unique capital structure allows it to provide an aggressive cost of funds to a very diversified range of credit profiles. For more information, please visit the First National Capital Corporation website at http://www.firstncc.com


News Article | May 18, 2017
Site: www.prweb.com

New Penn Financial, a nationally-recognized mortgage lender, announced that Kevin Harrigan has been promoted to the position of Chief Operating Officer. In this capacity, Harrigan will lead the corporate operations teams and the organization’s three business channels. “New Penn has grown from a start-up lender in 2008 to a significant presence in today’s mortgage marketplace,” said Jerry Schiano, founder, President & CEO of New Penn. “The creation of the COO role is an important step toward building a fully integrated model for sales strategy and operational support.” Schiano explained, “Kevin understands our culture and our goals as an organization. He brings significant business and leadership experience that will enable us to continue evolving.” Harrigan joined New Penn in 2013, serving most recently as Chief Risk and Administrative Officer. He has over 30 years of senior management experience in financial services and mortgage banking, including positions with CIT Group, Bank of America, and KeyCorp. In addition to studies at the Weatherhead School of Management at Case Western Reserve University, he earned his B.S. in Finance/Economics from Rutgers University, and an MBA from Seton Hall University. “This is an exciting time to be part of New Penn,” said Harrigan. “We have a great team in place and I look forward to leading New Penn through this next stage of operational maturity and sustained growth.” New Penn offers residential mortgage loans through three business divisions – Direct-to-Consumer (Call Center), Retail (Distributed and Joint Venture), and Third Party Origination (TPO). The organization has over 2,000 employees and operates 160 offices across the country. For more information on New Penn Financial or media inquiries, contact: Jennifer Smith at jwsmith(at)newpennfinancial(dot)com. ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ About New Penn Financial New Penn Financial® has become a leading nationwide lender by bringing expertise, extremely competitive rates on a broad portfolio of mortgage products, and exceptional customer service under one roof. Founded in 2008, and licensed in 48 states, the company and its reputation have grown rapidly under the guidance of a management team with years of experience in the mortgage industry. New Penn is headquartered in Plymouth Meeting, Pennsylvania and operates offices nationwide. New Penn is a Shellpoint Partners company. More information is available at http://www.newpennfinancial.com.


The Employment Law Group® Law Firm Guides Whistleblower Sandra Jolley To $1.6 Million Award, Maximum under 'FIRREA' Law The U.S. government awarded $1.6 million to consumer advocate Sandra Jolley, a prominent critic of predatory reverse-mortgage lenders, in recognition of the role she played in blowing the whistle on improper practices by Financial Freedom, a lender and loan servicer that was run at the time by Steven Mnuchin — who, in a Trump-era twist, now heads the U.S. Treasury. Ms. Jolley’s award is the maximum allowed by the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), which encourages whistleblowers to reveal fraud that affects federally insured financial institutions. It was based on Financial Freedom’s May 16 agreement to pay the United States more than $89 million to resolve matters including Ms. Jolley’s claim that the company illegally foreclosed on many homes that were subject to reverse mortgages and then made inflated claims for reimbursement from a government insurance fund. A reverse mortgage is a home-equity loan, usually government-insured, that allows older homeowners to stay in their homes for life while giving them extra income. Repayment is triggered by events including the homeowner’s death, after which servicers may foreclose on a property if borrowers or their estates can’t satisfy the loan. The federal government regulates the foreclosure process via strict timelines and a few modest consumer protections — regulations that Ms. Jolley said were trampled by Financial Freedom. In her FIRREA declaration, filed in 2014, Ms. Jolley supplied evidence that Financial Freedom had obstructed repayment options and accelerated foreclosure to push older people, often freshly bereaved, out of their longtime homes at a rate far higher than other servicers. The Employment Law Group® law firm represented Ms. Jolley in her FIRREA action as part of its growing whistleblower practice. Ms. Jolley’s involvement with reverse mortgages began with her parents’ traumatic experience with Financial Freedom. As a result of that experience, she started helping other homeowners and their families as a reverse-mortgage suitability and abuse consultant. Her hard-won expertise has saved hundreds of older people from losing their homes — and now has returned nearly $90 million to the government. Ms. Jolley’s reverse-mortgage consultancy is based in Oxnard, Calif., and helps homeowners nationwide. Her Web site, elderfinancialterrorism.com, features advice for homeowners who are considering reverse mortgages, or who are fighting wrongful servicing or foreclosure practices. “Sandy is an amazing example of someone who gained deep knowledge via personal hardship, and now puts her learning at the service of others in the same situation,” said David L. Scher, a principal attorney at The Employment Law Group. “It’s appropriate that she has been rewarded by the government, because she certainly saved it a bundle. It’s a sad irony, however, that Financial Freedom’s settlement payment goes into coffers overseen by Mr. Mnuchin, who was guiding Financial Freedom while all of this occurred.” At the time of the events highlighted in Ms. Jolley’s FIRREA declaration, Financial Freedom was a part of OneWest Bank. Mr. Mnuchin was an owner of OneWest and served as its chief executive officer, a tenure that earned him the nickname “The Foreclosure King.” OneWest’s aggressive squeezing of homeowners wasn’t limited to elderly clients with reverse mortgages: An investigation by California’s Department of Justice, for instance, found evidence “suggestive of widespread misconduct” in OneWest’s handling of regular mortgages after the 2008 financial crisis, too. In 2015, Mr. Mnuchin led the sale of OneWest to CIT Group for $3.4 billion, reportedly receiving $380 million as his slice of a deal that went sour almost immediately: The new owner was forced to create a growing reserve to account for Financial Freedom’s misstatement of money due from the government — a matter that was also investigated by government regulators. Today’s settlement appears to be the first time Mr. Mnuchin’s former company has paid the government in connection with wrongful foreclosures. Alone among major banks, OneWest refused to settle with regulators in a separate probe of the mortgage crisis, forcing its small borrowers to resolve their cases individually. “Today’s settlement is a long-overdue step toward accountability at Financial Freedom,” said Ms. Jolley. “This company still services approximately 80,000 reverse-mortgage loans, and those consumers will need proof that it has changed its ways. Financial Freedom must start treating reverse-mortgage regulations as crucial protections for their own customers — not as obstacles to be overcome.” She also noted that Financial Freedom is not the only reverse-mortgage servicer that has taken advantage of older homeowners. “This is an industry that makes more money when consumers don’t understand or exercise their rights,” said Ms. Jolley. “The fate of Financial Freedom may serve as a deterrent for some, but unfortunately reverse-mortgage abuse is still common and many seniors continue to lose their homes unnecessarily.” Sandra Jolley and David L. Scher are available for interviews about this case. Contact Mr. Scher at 202-261-2802 or dscher@employmentlawgroup.com. The Employment Law Group® law firm represents whistleblowers and employees who stand up to wrongdoing in the workplace. Based in Washington, D.C., the firm takes cases nationwide.  More information about The Employment Law Group and its attorneys is available at https://www.EmploymentLawGroup.com.


agreement to pay the United States more than $89 million to resolve matters including Ms. Jolley's claim that the company illegally foreclosed on many homes that were subject to reverse mortgages and then made inflated claims for reimbursement from a government insurance fund. A reverse mortgage is a home-equity loan, usually government-insured, that allows older homeowners to stay in their homes for life while giving them extra income. Repayment is triggered by events including the homeowner's death, after which servicers may foreclose on a property if borrowers or their estates can't satisfy the loan. The federal government regulates the foreclosure process via strict timelines and a few modest consumer protections - regulations that Ms. Jolley said were trampled by Financial Freedom. In her FIRREA declaration, filed in 2014, Ms. Jolley supplied evidence that Financial Freedom had obstructed repayment options and accelerated foreclosure to push older people, often freshly bereaved, out of their longtime homes at a rate far higher than other servicers. The Employment Law Group® law firm represented Ms. Jolley in her FIRREA action as part of its growing whistleblower practice. Ms. Jolley's involvement with reverse mortgages began with her parents' traumatic experience with Financial Freedom. As a result of that experience, she started helping other homeowners and their families as a reverse-mortgage suitability and abuse consultant. Her hard-won expertise has saved hundreds of older people from losing their homes - and now has returned nearly $90 million to the government. Ms. Jolley's reverse-mortgage consultancy is based in Oxnard, Calif., and helps homeowners nationwide. Her Web site, elderfinancialterrorism.com, features advice for homeowners who are considering reverse mortgages, or who are fighting wrongful servicing or foreclosure practices. "Sandy is an amazing example of someone who gained deep knowledge via personal hardship, and now puts her learning at the service of others in the same situation," said David L. Scher, a principal attorney at The Employment Law Group. "It's appropriate that she has been rewarded by the government, because she certainly saved it a bundle. It's a sad irony, however, that Financial Freedom's settlement payment goes into coffers overseen by Mr. Mnuchin, who was guiding Financial Freedom while all of this occurred." At the time of the events highlighted in Ms. Jolley's FIRREA declaration, Financial Freedom was a part of OneWest Bank. Mr. Mnuchin was an owner of OneWest and served as its Chief Executive Officer, a tenure that earned him the nickname "The Foreclosure King." OneWest's aggressive squeezing of homeowners wasn't limited to elderly clients with reverse mortgages: An investigation by California's Department of Justice, for instance, found evidence "suggestive of widespread misconduct" in OneWest's handling of regular mortgages after the 2008 financial crisis, too. In 2015, Mr. Mnuchin led the sale of OneWest to CIT Group for $3.4 billion, reportedly receiving $380 million as his slice of a deal that went sour almost immediately: The new owner was forced to create a growing reserve to account for Financial Freedom's misstatement of money due from the government - a matter that was also investigated by government regulators. Today's settlement appears to be the first time Mr. Mnuchin's former company has paid the government in connection with wrongful foreclosures. Alone among major banks, OneWest refused to settle with regulators in a separate probe of the mortgage crisis, forcing its small borrowers to resolve their cases individually. "Today's settlement is a long-overdue step toward accountability at Financial Freedom," said Ms. Jolley. "This company still services approximately 80,000 reverse-mortgage loans, and those consumers will need proof that it has changed its ways. Financial Freedom must start treating reverse-mortgage regulations as crucial protections for their own customers - not as obstacles to be overcome." She also noted that Financial Freedom is not the only reverse-mortgage servicer that has taken advantage of older homeowners. "This is an industry that makes more money when consumers don't understand or exercise their rights," said Ms. Jolley. "The fate of Financial Freedom may serve as a deterrent for some, but unfortunately reverse-mortgage abuse is still common and many seniors continue to lose their homes unnecessarily." Sandra Jolley and David L. Scher are available for interviews about this case. Contact Mr. Scher at 202-261-2802 or dscher@employmentlawgroup.com. The Employment Law Group® law firm represents whistleblowers and employees who stand up to wrongdoing in the workplace. Based in Washington, D.C., the firm takes cases nationwide. More information about The Employment Law Group and its attorneys is available at https://www.EmploymentLawGroup.com. Consumer Advocate Who Blew Whistle on Financial Freedom


The Employment Law Group® Law Firm Guides Whistleblower Sandra Jolley To $1.6 Million Award, Maximum under 'FIRREA' Law WASHINGTON, DC / ACCESSWIRE / May 18, 2017 / The U.S. government awarded $1.6 million to consumer advocate Sandra Jolley, a prominent critic of predatory reverse-mortgage lenders, in recognition of the role she played in blowing the whistle on improper practices by Financial Freedom, a lender and loan servicer that was run at the time by Steven Mnuchin - who, in a Trump-era twist, now heads the U.S. Treasury. Ms. Jolley's award is the maximum allowed by the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), which encourages whistleblowers to reveal fraud that affects federally insured financial institutions. It was based on Financial Freedom's May 16 agreement to pay the United States more than $89 million to resolve matters including Ms. Jolley's claim that the company illegally foreclosed on many homes that were subject to reverse mortgages and then made inflated claims for reimbursement from a government insurance fund. A reverse mortgage is a home-equity loan, usually government-insured, that allows older homeowners to stay in their homes for life while giving them extra income. Repayment is triggered by events including the homeowner's death, after which servicers may foreclose on a property if borrowers or their estates can't satisfy the loan. The federal government regulates the foreclosure process via strict timelines and a few modest consumer protections - regulations that Ms. Jolley said were trampled by Financial Freedom. In her FIRREA declaration, filed in 2014, Ms. Jolley supplied evidence that Financial Freedom had obstructed repayment options and accelerated foreclosure to push older people, often freshly bereaved, out of their longtime homes at a rate far higher than other servicers. The Employment Law Group® law firm represented Ms. Jolley in her FIRREA action as part of its growing whistleblower practice. Ms. Jolley's involvement with reverse mortgages began with her parents' traumatic experience with Financial Freedom. As a result of that experience, she started helping other homeowners and their families as a reverse-mortgage suitability and abuse consultant. Her hard-won expertise has saved hundreds of older people from losing their homes - and now has returned nearly $90 million to the government. Ms. Jolley's reverse-mortgage consultancy is based in Oxnard, Calif., and helps homeowners nationwide. Her Web site, elderfinancialterrorism.com, features advice for homeowners who are considering reverse mortgages, or who are fighting wrongful servicing or foreclosure practices. "Sandy is an amazing example of someone who gained deep knowledge via personal hardship, and now puts her learning at the service of others in the same situation," said David L. Scher, a principal attorney at The Employment Law Group. "It's appropriate that she has been rewarded by the government, because she certainly saved it a bundle. It's a sad irony, however, that Financial Freedom's settlement payment goes into coffers overseen by Mr. Mnuchin, who was guiding Financial Freedom while all of this occurred." At the time of the events highlighted in Ms. Jolley's FIRREA declaration, Financial Freedom was a part of OneWest Bank. Mr. Mnuchin was an owner of OneWest and served as its Chief Executive Officer, a tenure that earned him the nickname "The Foreclosure King." OneWest's aggressive squeezing of homeowners wasn't limited to elderly clients with reverse mortgages: An investigation by California's Department of Justice, for instance, found evidence "suggestive of widespread misconduct" in OneWest's handling of regular mortgages after the 2008 financial crisis, too. In 2015, Mr. Mnuchin led the sale of OneWest to CIT Group for $3.4 billion, reportedly receiving $380 million as his slice of a deal that went sour almost immediately: The new owner was forced to create a growing reserve to account for Financial Freedom's misstatement of money due from the government - a matter that was also investigated by government regulators. Today's settlement appears to be the first time Mr. Mnuchin's former company has paid the government in connection with wrongful foreclosures. Alone among major banks, OneWest refused to settle with regulators in a separate probe of the mortgage crisis, forcing its small borrowers to resolve their cases individually. "Today's settlement is a long-overdue step toward accountability at Financial Freedom," said Ms. Jolley. "This company still services approximately 80,000 reverse-mortgage loans, and those consumers will need proof that it has changed its ways. Financial Freedom must start treating reverse-mortgage regulations as crucial protections for their own customers - not as obstacles to be overcome." She also noted that Financial Freedom is not the only reverse-mortgage servicer that has taken advantage of older homeowners. "This is an industry that makes more money when consumers don't understand or exercise their rights," said Ms. Jolley. "The fate of Financial Freedom may serve as a deterrent for some, but unfortunately reverse-mortgage abuse is still common and many seniors continue to lose their homes unnecessarily." Sandra Jolley and David L. Scher are available for interviews about this case. Contact Mr. Scher at 202-261-2802 or [email protected]. Consumer Advocate Who Blew Whistle on Financial Freedom


BEDMINSTER, NJ--(Marketwired - May 3, 2017) - Peapack-Gladstone Financial Corporation ( : PGC) and Peapack-Gladstone Bank are proud to introduce a new team of private bankers and the opening of Peapack Capital Corporation, the newest subsidiary of the Bank, which will focus on equipment finance and leasing. "Equipment leasing is the logical next step for us," said Doug Kennedy, President and Chief Executive Officer of Peapack-Gladstone Bank. "We have found a team that fits our aggressive style and is able to launch the program with a foundation built on years of experience." Robert R. Cobleigh, a resident of Whippany, New Jersey, leads the team as an executive vice president of the Bank, and as the President of Peapack Capital. Cobleigh is responsible for launching the equipment leasing program and introducing the Bank's brand to this vertical. Robert has over 30 years of leasing and structured finance expertise in a broad range of industries and assets including manufacturing, trucking, business aviation, rail, marine and energy. A founding member, he most recently served as Regional Vice President and Credit Officer for Santander Corporate Equipment Finance, Inc. where he was instrumental in supporting the growth of a $1 billion portfolio for the Santander Bank, N.A. subsidiary. Prior to this, Robert was the Vice President of Credit for structured and specialty finance (leasing, mutual fund and trade finance) for MUFG-Union Bank/The Bank of Tokyo-Mitsubishi in New York. He has also held senior positions at RBS/Citizens Asset Finance, Inc., Chicago, Illinois, where he served as Vice President of Credit - Business Aviation, Buy Desk and Structured Finance; Siemens Financial Services, Inc., Iselin, NJ, where he was the Director of Credit of Capital Markets; Volvo Finance North America, Inc., Montvale, NJ, where he was the Senior Financial Analyst - Pricing; and International Proteins Corporation, West Caldwell, NJ, where he served as the Director of Treasury and Finance. Robert earned his Bachelor of Business Administration degree - Finance and MBA - Investment Management from Pace University, New York. Joining Robert is Denny Smith of North Kingstown, Rhode Island. Smith will serve as Senior Vice President and Chief Operating Officer of Peapack Capital. With 25 years of bank leasing experience, Denny most recently managed front and mid-office operational functions including pricing, structuring, buy/sell syndication, proposal creation, profitability analysis, incentive compensation, closing functions, change management, and Infolease system upgrade projects for Sovereign Bank/Santander Bank, N.A., as Senior Vice President and Managing Director. Previously, he served as Director of the group during in-footprint product launch in 2012 managing the B/S and l/S. He originally joined Sovereign Bank in August 2004 to launch tax and non-tax equipment lease products for all asset classes. He spent 15 years at Fleet Capital Corporation where he was Vice President, National Finance Manager, responsible for developing and communicating pricing philosophy and methodology to the Bank relationship managers, the leasing sales force and senior management, and for providing pricing and structuring support for all leasing products. He was also very involved in providing lease product education to relationship managers and their clients. Prior to Fleet, Denny was at a non-bank equipment lessor, Signal Capital Corporation. A graduate of the University of New Hampshire with a Bachelor of Science in Business Administration, Denny will help introduce Peapack Capital to the equipment finance market, responsible for operations, procedures and the efficiency of the division. Frank Striplin and Christopher McManus also join Peapack Capital as Senior Vice Presidents and Sales Directors. Frank and Chris will partner with Smith and Cobleigh to initiate and develop the Bank's equipment leasing program and deliver the Peapack-Gladstone Bank brand of client service. Frank, a resident of Evans, Georgia, joins Peapack Capital from the Corporate Equipment Finance group of Santander Bank, N.A. where he booked more than $190 million in new business in less than two years and consistently maintained a backlog greater than $75 million. Consistently a top performer in sales volume and profit, Striplin was the six-time winner of the Chrysler Capital President's Award for Excellence. During six years at Citicorp, he was the leading producer in the southeast for five years and the leading profit and volume producer for the entire company one year. His performance earned him the Citicorp Chairman's Award five times and the Teamwork Award four times. While at Credit Lyonnais he built a team that produced a portfolio of approximately $900 million, generating a return on equity of more than 20%. He has held various sales positions as well as senior business development and leadership roles with several major banks and commercial finance companies, and has built and led several high-performance sales teams. During his career, he has produced or assisted in generating over $1.9 billion in new business. Christopher McManus, a resident of North Wales, Pennsylvania, and graduate of Temple University with a Bachelor of Business Administration degree is a highly accomplished equipment leasing and finance professional with over 25 years of direct lending experience. Chris has been a top performer at all levels of his career in equipment finance. He began his banking career at First Fidelity Bancorporation in 1991 in their equipment leasing group. In 1993 he was selected for the First Fidelity Professional Banker Program, a credit training program, where he spent one year developing his skills. After moving on to GE Capital as an underwriter, in 1995 Chris accepted a position on the direct equipment lending team. He spent much of his career as a top performer and a highly successful direct equipment lender at institutions like Mellon Bank US Leasing, US Bancorp, RBS/Citizens Asset Finance, Inc. and Santander Bank, N.A. He was a three-time recipient of the RBS/Citizens World Class Performers Award. He has proven successful at all levels of the marketplace, working with middle market size companies up to large corporate entities. His knowledge of the marketplace and asset classes gives Peapack Capital a tremendous advantage. Rounding out the division, Mark L. Robinson and Dennis R. Magarro, join the Peapack Capital team as Senior Vice President, Senior Underwriter and Vice President and Senior Underwriter, respectively. Mark, a resident of Randolph, NJ, and graduate of Lehigh University with an MBA and BA in Finance, has over 30 years of proficiency in financial services with extensive and diverse experience in underwriting, relationship and portfolio management, originations, credit analysis, leveraged loan structuring, risk rating systems, document negotiation and compliance. Throughout his career he has held positions at Santander Bank, N.A., JA Mitsui Leasing Capital Corporation, CIT Group, Merrill Lynch Business Financial Services and Wells Fargo. Dennis Magarro is a results driven credit professional with 17 years of finance experience with diverse commercial lending organizations in credit analysis, underwriting, risk and portfolio management, finance and accounting. Educated at Sacred Heart University, graduating with a MBA in Finance, and Quinnipiac University, with a BS in Accounting, Magarro has held positions at Arthur Andersen LLP, General Electric Company - GE Capital, RBS/Citizens Asset Finance, Inc., MUFG - BTMU Capital Leasing and Finance and Santander Bank, N.A. "It is important for us to enter this arena," said Kennedy. "As a high-performing boutique bank we are aggressively building our platforms and incorporating wealth, lending and deposit solution along the way. In order to grow, we need to expand into new territories. Peapack Capital allows us to do this in a purposeful and measured way." Peapack-Gladstone Financial Corporation is a New Jersey bank holding company with total assets of $3.95 billion as of March 31, 2017. Founded in 1921, Peapack-Gladstone Bank is a commercial bank that provides innovative private banking services to businesses, real estate professionals, non-profits and consumers, which help them to establish, maintain and expand their legacy. Through its private banking locations in Bedminster, Morristown, Princeton and Teaneck, its private wealth management, commercial private banking, retail private banking and residential lending divisions, along with its online platforms, Peapack-Gladstone Bank offers an unparalleled commitment to client service.


News Article | May 25, 2017
Site: marketersmedia.com

— For more than thirty years, Jacob Frydman has been an advisor in the Commercial Real Estate (CRE) sector across the East Coast. Because of his vast knowledge and experience, Frydman is regularly called in by pundits to better explain developments in the CRE sector to the public. As a consultant, he has been analyzing the market to predict the unexpected courses it might take. For the past few years, through media appearances and interviews he has forecast on the inevitable rise of interest rates and their effect on the CRE market. A survey done recently by CIT Group shows that many executives in CRE-focused companies are concerned about the future of the real estate market, and that worry is strongly tied to factors including interest rates, unemployment, and the Federal Reserve’s Federal Fund Rates. The latter two can heavily affect the former, according to Frydman, “in this economic environment, enough pressure has been built to warrant worry about increased inflation. It is not a question of if inflation will increase, but when. The Fed understands it will need to raise the Federal Funds Rate in the near future. Low rates will not linger much longer.” Jacob Frydman has been cautioning of these developments for quite a while, and it would seem that his predictions may soon come to pass. However, Frydman has also repeatedly expressed his confidence in the real estate market and its ability to bounce back from downturns. “…These markets are, in fact, always cyclical,” he told Fox Business News, “…we will go through the downs of the market…the ups of the market, the greed of the market, and the heights of the market.” Frydman points out that despite these uncertainties, there is still a greater demand for prime real estate than there is a ready supply, and a study by Dr. Martha Peyton and Dr. Edward F. Pierzak of TIAA-CREF seems to back this up. “Despite moderating total return expectations,” the report’s conclusion reads, “real estate performance is expected to remain attractive compared to other asset classes and real estate should remain an important part of investors’ multi-asset class portfolios.” Jacob Frydman also cautions potential investors to choose the right options. He believes that the United States is too heavily focused on retail real estate, and the transfer of consumer traffic from brick-and-mortar stores to online retailers provides opportunities in industrial real estate, specifically distribution centers. A renowned expert on value added investments, Jacob Frydman has acquired over five million square feet of real estate, with transactions of up to $2 billion, during the course of his 30-year career. He has served as a CEO, Chairman, and CIO of First Capital Real Estate Trust, a guest lecturer at Columbia University, and a television show producer. Finance graduate of Boston University and Juris Doctor recipient of Case Western Reserve University School of Law, Frydman often participates as a speaker and panelist at numerous industry seminars and on Fox Business, CNBC, Bloomberg Television and other news media, where he speaks on matters relating to property investments and trends in real estate. Having retired from his role as a CEO of a public REIT in 2015, Frydman seeks out special situations where he can enhance a property’s value, which he undertakes alone or at times with partners. For more information, please visit http://www.JacobFrydmanNews.com


News Article | May 8, 2017
Site: www.prnewswire.com

During a ceremony formally appointing Kedia, Professor Ivan Brick, chair of the finance and economics department, said Kedia's research is not only published in prominent academic journals, it is often written about by journalists in the mainstream media, including Fortune magazine and The New York Times. In addition to the visibility Kedia generates for Rutgers Business School through her research – Brick counted 13,895 results after a recent Internet search of her name – Brick said Kedia also works closely with doctoral students, assisting them with their research. "She is a very passionate individual. She's passionate about her research, and she's passionate about improving the Ph.D. program and the department," he said. Kedia said she was "deeply honored" to receive the appointment. "All the work I've done has been done right here at Rutgers," she said. "I have a lot of fondness for Rutgers Business School, a lot of commitment and a deep sense of gratitude." Watch an animated video on Professor Kedia's research on the contagion-effect of corporate misconduct. Kedia joined the finance and economics faculty at Rutgers Business School in 2004 and became a full professor in 2012. She is the second professor to hold the Gamper chair. A 1966 graduate of Rutgers University-Newark, Gamper is the retired chairman and chief executive of CIT Group. He is a former chair of the university's Board of Governors, and in 1999, he was inducted into the Rutgers Hall of Distinguished Alumni. When Gamper retired in 2004, he and CIT Group announced the establishment of the $2 million endowed professorship. For universities, such endowments are considered vital to retaining and recruiting quality faculty and creating an academic environment that attracts the best students. In his comments, Executive Dean Yaw Mensah remarked on the history of endowed chairs and their use in recognizing great scholars. "Scholars strengthen Rutgers by measure," he said, "attracting faculty and students, by informing policy and public opinion and influencing their fields." To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/professor-is-first-woman-to-receive-an-endowed-chair-at-rutgers-business-school-300453455.html


News Article | May 10, 2017
Site: www.businesswire.com

NEW YORK--(BUSINESS WIRE)--Macquarie Group (“Macquarie”) (ASX:MQG; ADR:MQBKY), today announced appointments in equities research within its Commodities and Global Markets group. Caroline Levy joins as senior analyst covering beverages, household products and cosmetics, and Susan Donofrio as senior analyst covering aviation, including airlines, aerospace & defense, and aircraft leasing. Ms. Levy and Ms. Donofrio will be based out of Macquarie’s New York office. Christine Farkas, Managing Director and Head of U.S. Equity Research, said: “We are delighted to have Caroline and Susan join our coverage team. Caroline is a highly regarded consumer analyst who brings insightful research, deep corporate and client relationships, and a collaborative approach. Susan is well recognized in global aviation and brings proven industry knowledge, strong political and financial analysis as well as valuable company relationships across the sector. They are both great additions to the team and will add value to our growing client base.” Prior to joining Macquarie, Ms. Levy was a Managing Director and analyst at CLSA, where she covered beverage and household/cosmetics for seven years. Prior to that, she held a number of senior analyst roles in equities research at UBS (including managerial responsibilities), Schroders and Lehman Brothers. She leverages a wide network of industry contacts within beer, spirits, soft drinks and cosmetics, and is known for her consumer surveys and global views. Ms. Levy earned a Bachelor of Commerce from the University of Cape Town. Ms. Donofrio has strong experience across industry and sell-side institutions. Most recently, she was an investor relations consultant to CIT Group related to its then planned spin of its aircraft leasing business, and also worked in investor relations and strategy for Hawaiian Airlines and Novartis. She has worked as a senior analyst covering airlines, aerospace and transports at Deutsche Bank, Fulcrum Global Partners and Cathay Financial. Ms. Donofrio earned a BA from Rutgers University and an MBA from Pace University. Macquarie Group (Macquarie) is a global provider of banking, financial, advisory, investment and funds management services. Macquarie’s main business focus is making returns by providing a diversified range of services to clients. Macquarie acts on behalf of institutional, corporate and retail clients and counterparties around the world. Founded in 1969, Macquarie operates in more than 70 office locations in 28 countries. Macquarie employs approximately 13,597 people and has assets under management of more than $A481.7 billion (as of March 17, 2017). Macquarie operates in the US as Macquarie Capital (USA) Inc., a member of FINRA and SIPC. Further information can be found at http://www.macquarie.com/us/corporate/research.

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