Gordon Brothers promoted Joe Massaroni to managing director and eastern regional sales manager. Massaroni will lead the company’s eastern regional business development team and work with asset-based lenders, private equity sponsors and corporate management teams in the Southeast.
Gordon Brothers has named Samantha Schackman as director, business development. Based in Boston, Schackman has nearly 20 years of experience in the valuations industry. She was previously director, valuations within the retail valuation practice.
Gordon Brothers named Joe Massaroni director of business development as Conrad Lauten will retire from the role.
Gordon Brothers Group announced Frank Grimaldi was promoted to national sales manager of the firm’s Valuation & Advisory Services Division, effective October 1.
Over the past year, the competitive environment in the asset-based lending industry has reached a fever pitch. Competition for a limited number of deals has forced lenders to offer diminished rates to keep clients. In order to offer lower-cost deals, some lenders have decreased the frequency of regular appraisals, often to their own detriment in the long term.