SunTrust Equipment Finance & Leasing Corp. (STEFL) has announced two key industry veteran hires. STEFL provides essential-use equipment financing for businesses and municipalities nationwide.
 
Lawrence Watts has been named Head of Capital Markets and Louis Sombat has been named Director of Operations.
 
Watts joins SunTrust with more than 30 years experience in the financial services industry, focused primarily on originating, structuring, and syndicating structured debt and tax products. He most recently served as managing director of Well Fargo Securities’ Commercial Asset Leasing & Finance -- Equipment Finance Group. Prior to that, he was in leadership positions with Wachovia Securities, Bank of America’s leasing and securities units, and Fleet Global Lease Finance. Watts is based in Charlotte, NC, reporting to Paul Severn, Managing Director, Group Head.
 
Sombat brings more than 20 years experience in operational efficiency, portfolio management, and transaction structuring to SunTrust, most recently serving as senior vice president within Century Tokyo Leasing’s legal and operations area. Prior to that, he held leadership positions with Fifth Third Leasing Company and Key Equipment Finance. Sombat is based in Atlanta, reporting to Horst Kisch, Senior Vice President, Wholesale Operations.