People’s United Bank formed a dedicated Lender Finance team as part of its Commercial Specialty Business. Patrick Lee, managing director, head of Lender Finance, Asset-Based Lending, will lead the team, which is an extension of the bank’s existing ABL group.
The team will work with non-bank lender finance companies nationally to provide tailored solutions of $10 million or more to help them achieve their near and long-term growth objectives.
“Lender finance represents a significant portion of our ABL portfolio today, and we’re excited to launch a dedicated focus on this market segment to design tailored solutions for lender finance borrowers,” said Kate Lepak, ABL director at People’s United Bank. “The creation of a Lender Finance team is consistent with the implementation of industry specialties across the bank over the past several years.
“The Lender Finance team will enable clients to benefit from the many synergies that exist with the Bank’s ABL Finance division and other Bank specialty lines, including a more customized product suite and industry-specific market intelligence.”
Lee joined People’s United’s ABL team in 2016, bringing an extensive background in commercial lending. In prior positions at GE Capital, Merrill Lynch Capital, Bank of America and CIT, he gained experience across a range of functions and managerial roles in asset-based lending, leveraged cash flow lending, and restructuring finance.