Stephen Altneu joined Sterling National Bank as managing director of its asset-based lending business. He will be responsible for overseeing asset-based loan origination across the Northeast U.S., reporting directly to Michael Haddad, division president, Asset-Based Lending.

Altneu brings more than 25 years of financial services experience to Sterling, with deep experience in the areas of buyouts, acquisitions and recapitalizations. His addition to the bank’s fast-growing asset-based lending business underscores Sterling’s commitment to providing highly-customized services using a team-based client service model.

“Steve is a great addition to our origination efforts in the Northeast Region,” said Haddad. “He adds depth to our team with a valuable combination of marketing coverage, credit skills and deal execution experience.”

Prior to joining Sterling, Altneu held prominent positions at Capital One Business Credit, Merrill Lynch and Comerica. At Capital One, he was responsible for generating opportunities, structuring transactions, conducting initial credit underwriting and overseeing closing.