Investors Bank announced launch of an ABL group to be led by David Viggiano, serving as group head of Asset-Based Lending; and Joseph DeVito, named SVP / director of Business Development.
Viggiano, with 30 years of experience in corporate lending, joined from GE Capital, where he worked for 17 years and held sales and management positions in ABL and leasing.
DeVito, with 28 years of experience in ABL and commercial finance, was recently director of Business Development at Sterling National Bank’s group and previously an SVP in Wells Fargo’s ABL sector.
The group hired two other industry professionals. Joseph R. Costanza, heading risk management, was SVP and manager of ABL business at Sterling Bank after completing stints with the ABL businesses at LaSalle and Mellon Business Credit. Peter Provenzale, senior BDO, held senior sales roles at Wells Fargo and Fleet Capital following a long tenure at CIT.
Investors said its new ABL team would provide revolving lines of credit, term loans and equipment financing primarily to middle-market companies with annual revenues of less than $100 million.