ABN AMRO appointed Stam as CEO of its asset-based finance business. Stam’s background, experience and career achievements to date mean she is well-positioned to lead ABF into the future.
Wells Fargo named David Marks, current head of Capital Finance, to succeed Ed Blakey, who is retiring, as head of Wells Fargo Commercial Finance.
When putting together and closing any asset-based lending deal, the ingredients that are needed include patience, communication, and capital, but most importantly for both the lender and the borrower, it requires teamwork. And it was a great amount of teamwork that led to the closing of a $350 million ABL for O’Neal Steel, led by U.S. Bank Asset Based Finance. We caught up with U.S. Bank’s Sam Philbrick and O’Neal Steel’s Michael Rowland to get the details of the deal.