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Regions Bank Equipment Finance Builds Technology Solutions Platform, Adds Veteran Team

January 07, 2022, 07:23 AM

Regions Bank announced the Regions Equipment Finance Corporation (REFCO), a subsidiary of Regions Bank, is expanding its specialty capabilities to include a new Technology Solutions platform and team. The platform will be led by 40-year banking veteran Jay Cannon, who recently joined Regions and will serve as REFCO’s Technology Solutions Market Manager and South Central Technology Solutions relationship partner.

REFCO is a top 10 U.S. bank-owned equipment finance and leasing company delivering customized solutions that connect businesses with capital for a wide range of equipment needs. The new Technology Solutions platform will deliver both financing and leasing options for REFCO clients with a focus on empowering businesses to maximize efficient operations through technology while building long-term growth and successfully navigating today’s complex, tech-driven business landscape.

“Technology Solutions will continue to be one of the fastest-growing segments of the equipment finance industry, and by welcoming Jay Cannon and his team, Regions Bank and REFCO are well-positioned to meet even more needs for clients seeking custom-tailored advice, guidance and solutions,” said Will Perry, Managing Director and head of REFCO. “As companies continue to digitize, move to cloud-based operations and improve digital security, our team will provide leading-edge insights, helping clients guard against obsolescence while leveraging best practices designed to support and enhance their operations not only today – but also well into the future.”

Prior to joining Regions, Cannon served as Eastern Region Manager for U.S. Bank’s Technology Finance Group. He began his career with Graybar Electric, Inc. and moved into the finance industry with First U.S. Financial Corporation in 1981. Cannon has also served in leadership roles with Bombardier Technology Management Finance, Mellon U.S. Leasing Corporation, and IBM Credit, LLC.

Cannon will be joined by Mark Moro and Riley Thompson, who also previously served U.S. Bank’s Technology Finance Group. Together, the team brings over 100 years of banking and relationship management experience with deep roots in equipment and technology financing. Prior to U.S. Bank, Moro worked in the technology industry supporting leasing and project financing. Thompson met business banking needs for clients during more than 20 years at U.S. Bank.

REFCO’s teams collaborate with Regions’ bankers to deliver an optimized client experience for businesses seeking customized insights and efficient, flexible financing solutions tailored to individual equipment needs, ownership requirements, and tax considerations. Through the Regions360 approach to service, Regions’ clients benefit from having a team of financial professionals from various departments who work collaboratively to offer practical options designed to help clients reach their own, unique goals.

The new Technology Solutions platform and team represent REFCO’s sixth specialized segment group. Additional groups include Equipment Finance and Leasing; Solar Tax Equity; Government, Institutional, and Tax-Exempt Financing; Equipment Syndications; and Asset Portfolio Management.

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