Chris Esposito has a knack for navigating complex challenges in asset-based lending. Whether guiding CIT through its merger with First Citizens Bank or mentoring the next generation of ABL professionals, his career reflects visionary leadership and dedication. Over more than three decades, Esposito has left a lasting mark on the industry, helping financial institutions grow while fostering the development of future leaders.

LEADERSHIP IN A TIME OF CHANGE
Esposito’s career is defined by his strategic foresight. As managing director and business unit leader for First Citizens Bank’s Asset-Based Lending unit, he played a pivotal role in CIT’s merger with First Citizens Bank. This move strengthened the institution’s market position during a time of economic uncertainty.

Truly understanding clients’ needs is the heart of Esposito’s career. “I’ve enjoyed meeting business owners, learning about their companies and eventually helping them find ways to provide the capital they need to grow,” he says.

MENTORSHIP AND DEVELOPING THE NEXT GENERATION
Esposito is also celebrated for his mentorship. He has been instrumental in shaping the careers of numerous professionals in the ABL industry, many of whom have gone on to hold senior positions at leading financial institutions.

“Chris always empowered me to take on challenges beyond my role,” Kevin Marchetti, co-head of Direct Lending and chief credit officer at Man Varagon, says. “He believed in giving people space to grow, and that made a significant difference in my career.”

Esposito’s leadership style — empowering others to succeed — has been key to his lasting influence. “I try to put people in positions where they can succeed,” he says. “You’ll never know if you have a future star unless you let them try.” This approach to leadership emphasizes creating opportunities for growth and giving his team the autonomy to take on responsibility.

The impact of Esposito’s mentorship is evident in the accomplishments of those who have worked with him. Brian Scully, managing director at Wingspire Capital credits him as a key influence in his career.

“The thing I’m most proud of is the feeling that I’ve made an impact on the careers of others over the years,” Esposito says.

AN ICON IN ASSET-BASED LENDING
Esposito’s expertise in asset-based lending is unparalleled, developed over years of launching ABL units with both bank and non-bank lenders. His journey began at Fleet Bank, where a chance opportunity in the ABL group set the course for his future.

“I started at Fleet Bank … there was an opening in the ABL group … I put my hand up for it and was accepted,” he recalls.

Since then, Esposito has held senior roles at North Folk Bank, AT&T Capital, DaimlerChrysler Capital Services, CIT and, now, First Citizens Bank. Each role contributed to his deep understanding of the ABL landscape. His ability to lead teams, manage large portfolios and develop new market strategies has been critical in shaping industry best practices.

“When I first entered the industry, ABL was dominated by non-bank institutions like Congress, CIT and GE Capital. Over time, that shifted, but now we’re seeing a return of nonbank ABL shops,” Esposito says. His ability to adapt to these shifts, coupled with his knowledge of both bank and non-bank models, has made him a trusted leader.

LEADING WITH INTEGRITY
Esposito’s approach to his work is grounded in integrity. He believes in treating people as he would want to be treated and giving his team the autonomy to excel.

“Most of the people that come to work for us are well-educated and I think you should treat them that way,” he says. This philosophy has earned him the respect of his peers and created a collaborative, innovative work environment.

Encouraging his team to take on more responsibility exemplifies his belief in empowering his team. By creating a supportive environment where people can take risks, Esposito fosters a culture of growth and achievement within his teams.

A CONTINUING LEGACY
As Esposito continues to lead First Citizens Bank’s ABL unit, his focus remains on the future. The recent acquisition of Silicon Valley Bank presents new challenges, but Esposito is confident in his team’s ability to rise to the occasion.

“I think we still need to grow into our size a little … my plans right now are to help us get there,” he says.

Looking ahead, Esposito is most proud of the impact he’s had on others. “At the end of the day, I think my legacy will be in the careers I’ve helped shape. If I’ve played even a small role in the success of others, then I’ve done my job.”

His passion for the industry and dedication to mentoring the next generation ensure that his influence will continue to shape the ABL industry for years to come.

Esposito’s contributions to asset-based lending are immeasurable. His visionary leadership, dedication to mentorship and unwavering commitment to integrity have made him a legend in his field, setting a benchmark for the aspirations of future generations. •