DLL Launches New Business Unit for Usage-Based Financing
Asset-based financing solutions provider DLL formed a new Global Business Unit (GBU), Direct Solutions, to lead the organization’s innovative approach around usage-based consumption products and further develop a customer direct business model to compliment the company’s global vendor finance business.
Steve Riggs, a long-time industry veteran with over 35 years of experience in equipment finance and part of the DLL leadership team since 2004, has been named president of the new division.
In addition to further development of consumption-based models such as pay-per-use and managed solutions, the GBU will be charged with exploring future growth sectors for DLL. The activities of the GBU will span potential entry into new industry verticals, equipment markets and customer segments.
The company envisions the Direct Solutions GBU becoming a significant and material part of DLL’s global portfolio.
“Our industry continues to evolve, and the pace of change is accelerating. Buying habits are shifting and placing new requirements on the financial services sector,” said Riggs. “Businesses want the flexibility to pay for their equipment and technology as they use it, rather than owning the assets outright. I’m excited to develop a business that is focused on getting in front of these trends.”
Western Alliance Bank Introduces New Equipment Finance Group
Western Alliance Bank introduced Western Alliance Equipment Finance, a national specialty banking group created to target the $1 trillion equipment financing sector and provide capital equipment financing solutions for companies nationwide. The group will be led by SVP Brian Scott and VP of Sales Jon Brown.
Signature Bank Forms National Venture Banking Group
Signature Bank formed a national Venture Banking Group to focus on serving venture capital firms and the portfolio companies in which they invest. The 24-person group, with veteran banking teams located throughout the country, will be led by Ken Fugate, managing group director. Mara Huntington, Ryan Incorvaia, and Arthur Wasson will join him in leadership roles.