Daily News: March 12, 2012

City National Hires Four From GE Capital Franchise Finance


City National Bank said it has hired four new bankers in Seattle to focus on franchise finance and will open a loan production office in Seattle this year as part of a nationwide expansion effort.

The new bankers came from GE Capital Franchise Finance, and all of them have more than a decade of restaurant lending experience. The new team will help City National’s Franchise Finance team expand into new restaurant concepts with customers located in all 50 states.

Mark Hughes has more than 20 years of restaurant lending expertise and focuses on the Midwest. He will report to Franchise Finance manager David Sandoval.

Chris Poppe has 14 years of restaurant lending expertise and focuses on the Western U.S. He reports to Hughes.

Tammy Welch has 20 years of experience and focuses on the Eastern U.S. She reports to Hughes.

David Carr has more than 20 years of experience in restaurant and middle-market lending. He is responsible for credit and underwriting.

“This is a big step forward for our Franchise Finance Department and a huge opportunity for City National,” said Robert Iritani, executive vice president and manager of Specialty Banking for City National. “Because of their extensive experience, this team can hit the ground running and lead us into new markets.”

He added, “We are taking City National’s Franchise Finance Department to the next level,” said Sandoval. “We will put together best practices from City National and our new team and take our already successful strategy national.”

Currently, City National Bank is a lender to the restaurant franchise industry and has successfully tripled its franchise finance portfolio in the past five years.