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BBVA Compass Forms New Transportation Banking Group

April 23, 2014, 07:00 AM
Filed Under: Transportation

BBVA Compass announced the formation of a new Transportation Banking group.

The specialty group will provide loans, revolving credit, equipment and acquisition financing and other financial products and services to trucking, rail, shipping, logistics and air-related businesses across the country. The news comes less than a year after the bank launched its Equipment Finance group, which helps companies lease and acquire rail cars, aircraft and other equipment.

"Transportation Banking pairs well with our Equipment Finance offering," said Rafael Bustillo, BBVA Compass' head of Commercial Banking. "Now, we can provide our customers everything from financing their equipment fleet to helping them expand through acquisitions."

BBVA Compass Transportation Banking is led by Nick Weaver, who has more than 20 years of experience in the specialized industry, most recently with Regions Bank. Weaver earned his Master of Business Administration from Emory University and his Bachelor of Science from the University of Tennessee.

"Transportation continues to be a stable and growing industry closely tied to the demand for consumer goods and raw materials across the country," said Weaver, who is based in Atlanta. "As the economy continues to improve, we expect to see an increase in the movement of goods."

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