Pagaya hired Jeff Andrews as head of originations, Paul Limanni as head of structured products, Brandon McCue as senior managing director of client advisory, Rob Brady as senior managing director of institutional sales U.S. and Anna Roubos as VP of brand and communications.
Sterling National Bank’s commercial services group provided a credit line increase of senior secured credit facilities now totaling $7 million to Arrow Security. The credit facilities will provide working capital to further expand and support the company’s future projected growth.
Colorescience completed a $30 million debt financing with K2 HealthVentures, a healthcare-focused specialty finance company. Colorescience received the first tranche of $20 million and fully repaid its previous $17.5 million loan facility with Midcap Financial Services.
Gibraltar Business Capital expanded its operations and credit teams to address increased demand for its services, specifically hiring Paulina Nenadovic as a collateral analyst for the operations group and Todd Seehase as a senior vice president and account executive on the credit side.
North Mill Capital provided an $18 million asset-based revolving line of credit to Optical Cable Corporation, which used the funds to refinance a prior lender and to provide additional working capital.
Ameris Bancorp, the parent company of Ameris Bank, hired six new banking professionals to support its expanding market presence, including the additions of Brian Parks and Remer Brinson as regional presidents and Greg Clark as a market president.
Old Point National Bank opened its first commercial lending office in the Richmond, VA, area, with Philip Hager and Linnett Fortner leading the new team.
Michael Corbat, CEO of Citi, will retire and step down from the company’s board of directors in February of 2021. Jane Fraser, currently Citi’s president and CEO of global consumer banking, will succeed Corbat as CEO and on the board of directors.
Hornbeck Offshore Services emerged from Chapter 11. As part of its plan of reorganization, Hornbeck also closed on its common stock rights offering, which resulted in a $100 million cash infusion of new equity capital led by the special opportunities funds of Ares Management.
Scott H. Kintzing joined WSFS Bank as senior vice president and senior relationship manager for commercial banking. Kintzing joined WSFS with more than 45 years of administrative, credit, commercial lending and business development experience.