Daily News: October 8, 2013

Capital One Renames ABL Unit

Capital One said it changed the name of its Asset-Based and Senior Bank lending businesses from Capital One Leverage Finance to Capital One Business Credit Corp. to more accurately reflect the group’s specialized financial product offerings.

The company also announced the appointment of two new managing directors to expand the Business Credit team, which is part of the Commercial and Specialty Finance Group. Dan deBrauwere and Steve Hinrichs will co-head the Los Angeles office for Capital One Business Credit and will focus on expanding the team’s West Coast presence. DeBrauwere and Hinrichs will report to Keith Reuben, Executive Vice President of Commercial and Specialty Finance at Capital One Bank.

“We continue to expand the range of clients we serve and products we offer, and the Capital One Business Credit name better underscores the expansive scope of our business as we transform into a leading national platform,” said Reuben. “I am also delighted that Dan and Steve have joined Capital One Bank. They bring a wealth of commercial lending experience which, together with their execution focus, makes them a terrific complement to Capital One Business Credit Corp. and the entire Commercial and Specialty Finance Business. This expanded West Coast team reflects our commitment to strengthen our asset-based lending capabilities and further position Capital One as a leading bank in the specialty finance space.”

“The changes we are implementing in our Business Credit group reflect our strategy to build a leading, national commercial and specialty finance platform at Capital One Bank,” said Dean Graham, President of Capital One’s Commercial and Specialty Finance Business, Capital One Bank. “The significant investments we are making across all our Commercial and Specialty Finance Business will increase our direct origination capabilities and bring an extensive product offerings, industry expertise and creative financing solutions to our customers.”

DeBrauwere joins from US Bank, where he led two divisions of the company’s commercial banking group. He previously spent 12 years at Bank of America Business Capital. Hinrichs, who spent 16 years at Bank of America before joining Capital One, was most recently a regional/marketing manager for Bank of America Business Capital. His prior experience includes lending and operational positions at GE and GE Capital.

Capital One Bank’s Commercial and Specialty Finance Business serves clients through a team of more than 200 associates who have expertise in technology, healthcare, security and defense, asset-based lending, rediscount finance, municipal finance and equipment leasing and finance.