Daily News: April 13, 2015

Modern Hires Nedder as MD

Modern Bank hired Michael C. Nedder as managing director and head of asset finance. He will be responsible for growing the new business lines of equipment finance and asset-based lending. Asset Finance will be national in scope with the initial phase focusing on an institutional buy-side strategy. Large corporate and middle market borrowers will be the bank’s target markets.

“Mike is a key addition to our bank and the Commercial Markets team,” said Damian Kozlowski, president and CEO of Modern Bank. “His experience will help us build an Asset Finance business to complement the bank’s other lending activities.”

Nedder has more than 15 years of secured specialty finance experience. In addition to his banking background, he spent the past seven years in new business development at Stabilis Capital and Silver Point Capital. Previously, Nedder was at Emigrant Business Credit and ORIX Credit Alliance.

“Equipment Finance and Asset Based Lending will help diversify the bank’s portfolio and product offering and we are confident that Modern Bank will be successful in these areas under Mike’s leadership,” said Curt Lueker, head of Commercial Markets.