Sterling to Acquire $458MM Loan Portfolio from Advantage

Sterling Bancorp agreed to acquire a $458 million outstanding loan and lease portfolio from Advantage Funding Management, a part of Macquarie’s Corporate and Asset Finance Group.

Sterling Adds Managing Director to ABL Division

Sterling National Bank said Ernest Pelli has joined its Asset-Based Lending division as managing director. He previously served as SVP of Global Commercial Banking at Bank of America Merrill Lynch.