CoBiz Forms Structured Finance Group
CoBiz Financial said it has formed CoBiz Structured Finance providing asset-based loans to middle-market businesses within the company’s footprint. Chris Randall, previously a co-founder, board member and chief operating officer of MFC Capital Funding in Chicago, will lead the group.
“The lower middle market for leveraged loans is currently underserved by the banking industry in our markets,” said Jonathan C. Lorenz, CEO of Colorado Business Bank and Arizona Business Bank. “Chris’s knowledge and experience in leveraged lending will allow us to bring great depth to our loan products and continue to be responsive to the credit needs of businesses. The creation of CoBiz Structured Finance will allow us to serve growing businesses that are highly leveraged without incurring significant risk to the bank’s credit quality.”
Randall has more than 20 years of experience in the financial services industry, most recently with MFC Capital Funding, a national middle-market leveraged lending firm that was part of Marquette Financial Companies. He previously served as vice president and division manager for the Structured Finance Group at Fifth Third Bank.