CIBC announced its new Equipment Finance team within its U.S. Commercial Banking group, its 16th specialty banking area.
"At CIBC, we know how important machinery and equipment are in order to successfully deliver products and services to our clients," said Bruce Hague, President, U.S. Commercial Banking. "We're pleased to offer client-centric solutions that are applicable to all business profiles in order to help our clients achieve their ambitions."
The experienced Equipment Finance team is led by industry veteran, Matthew Green. Green, who recently joined the bank as Managing Director and Group Head, brings 20 years of banking industry experience to CIBC. Previously, he led the Equipment Finance business at J.P. Morgan, where he also co-founded the middle market loan syndication group. His team will be supported by Austin Daniels, who will lead Equipment Finance capital markets, and Jaime Clesceri, who will serve as head of documentation and operations.
The Commercial Banking team's new specialty group offers clients solutions to match requirements for capital expenditure acquisitions and sale-leasebacks, with an advisory-first approach designed to help clients weigh the pros and cons of a financing structure and its impacts on their financial profile. They provide equipment solutions across the following product sets:
- Secured loans
- Finance leases
- $1 buyout leases
- Fair market value leases
- Terminal Rental Adjustment Clause (TRAC) leases
- Split-TRAC leases
- Synthetic leases
"We build lasting business partnerships—focused on our clients' successes—by taking the time to understand them, their company, and objectives," said Hague.