The Alta Group https://thealtagroup.com Global Experience Provides Direction Tue, 24 Nov 2020 00:59:36 +0000 en-US hourly 1 https://wordpress.org/?v=5.4.4 Leading industry consultants exclusively focused on commercial equipment leasing and finance. The Alta Group clean episodic The Alta Group randaclay@gmail.com randaclay@gmail.com (The Alta Group) International consultants in financial services, equipment leasing, asset finance, consulting for sales aid finance, vendor and captive programs, contract negotiations, legal witness in equipment leasing The Alta Group https://thealtagroup.com/wp-content/uploads/2016/09/podcastimage.jpg https://thealtagroup.com Alta’s John Deane to Retire After 27 Years at Helm of Leading Consultancy https://thealtagroup.com/altas-john-deane-to-retire-after-27-years-at-helm-of-leading-consultancy/ https://thealtagroup.com/altas-john-deane-to-retire-after-27-years-at-helm-of-leading-consultancy/#respond Tue, 24 Nov 2020 00:59:36 +0000 https://thealtagroup.com/?p=10575 New Leaders Are Announced GLENBROOK, NV, Nov. 24--John C. Deane, CEO, chairman and a co-founder of The Alta Group, announced he will retire at the end of 2020. Valerie L. Gerard  and James R. Jackson, Jr. have been appointed co-CEOs, and Thomas C. Wajnert will serve as chairman of this international consultancy dedicated to the […]

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New Leaders Are Announced

John C. Deane

GLENBROOK, NV, Nov. 24--John C. Deane, CEO, chairman and a co-founder of The Alta Group, announced he will retire at the end of 2020. Valerie L. Gerard  and James R. Jackson, Jr. have been appointed co-CEOs, and Thomas C. Wajnert will serve as chairman of this international consultancy dedicated to the equipment finance industry. While Deane will retire from daily management, he will continue to serve on Alta’s board of directors.

“It has been a remarkable 27 years, and now it is time for me to move on and for Alta to embrace a new generation of leadership,” Deane said in an internal letter to Alta colleagues.

“John Deane has been a guiding force for Alta, and for the equipment leasing and finance industry as a whole,” said Wajnert, who also serves as Alta’s senior managing director of client development. “His wisdom and depth of industry knowledge have helped countless companies grow their equipment finance operations in the U.S. and across the globe.”

“Our new leadership team will expand on his vision, and there is a lot of positive energy with the new CEOs named and Alta’s news last month announcing our new vice chairmen, Paul Menzel and Rick Remiker,” Wajnert noted. “We are looking forward to playing a leading role in serving the next generation of leaders and accelerating our clients’ readiness for the future.”

Distinguished Career

Deane said, “It has been an honor and a privilege to work in such a remarkable industry and with such amazing clients and colleagues,” citing thousands of client engagements and visits to more than 50 countries in the course of his 27 years leading the consultancy he co-founded with Norm Chapman, Bill Montgomery and the late John Giddens.

Prior to The Alta Group, Deane served as a principal in the firm of Amembal, Deane & Associates, a provider of training, educational and consulting services for the equipment finance industry. He served as CEO of both Great Western Leasing and BancOne Leasing and earlier in his career as a CFO and president of several major financial corporations.

Deane’s broad expertise over more than 40 years was fortified by his work as a former chairman of the Equipment Leasing and Finance Association (ELFA) and his long-time participation in research, publishing and speaking at events within the global industry.

New Leadership

Jackson has been a leader of Alta’s M&A Practice since 2016 and Gerard, the leader of the Strategy & Competitive Alignment Practice, has been with Alta since 2010. In addition to their new CEO duties both will continue in their practice leadership positions.

The co-CEOs have been a part of the firm’s leading management team along with Francis Maier, the consultancy’s CFO.

“Valerie and Jim are incredibly talented and focused on equipping our clients for continued success,” Wajnert said. “This is an exciting time for Alta and the clients we serve.”

About The Alta Group

The Alta Group is the leading global consultancy dedicated exclusively to the business of equipment leasing and asset finance. Since 1992, Alta has represented equipment leasing and finance companies, vendor/captive finance organizations, financial institutions, manufacturers and service providers, offering counsel on strategy and competitive alignment, asset management, business quality assurance, digital business transformations, legal services, mergers and acquisitions, and professional development. For information on the group’s services in the United States and Canada, Latin America, Europe, the Middle East and Africa, China, and Asia Pacific, visit www.thealtagroup.com and follow us on Twitter @thealtagroupllc.

Media Contact:
Susan Carol, APR
540-847-1804
sca@scapr.com

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Podcast Interview with Paul Menzel on Leadership—and How He Leads Others to Perform https://thealtagroup.com/podcast-interview-with-paul-menzel-on-leadership-and-how-he-leads-others-to-perform/ https://thealtagroup.com/podcast-interview-with-paul-menzel-on-leadership-and-how-he-leads-others-to-perform/#respond Mon, 09 Nov 2020 19:31:48 +0000 https://thealtagroup.com/?p=10561 The post Podcast Interview with Paul Menzel on Leadership—and How He Leads Others to Perform appeared first on The Alta Group.

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Alta Vice Chairman Paul Menzel joins Leadership Development News with Drs. Relly Nadler and Cathy Greenberg to discuss how he “leads people to perform.” In this 40-minute podcast, Paul covers his notable career leading others to top performance as a president and a CEO: through his own continuous learning, emotional intelligence and developing a great corporate culture. His experience comes from a lifelong career in the equipment leasing industry, and notably joining Financial Pacific Leasing in 2008 during the depths of the Great Recession. He held together a strong team through nationwide financial straits and led the 2013 private equity sale of Financial Pacific to Umpqua Bank, before being appointed President and CEO of Umpqua Bank Equipment Leasing and Finance. He made bold decisions, inspired others and led these firms to exceptional performance. “Take bold steps,” he says. “Be the initiator. You can’t wait for others to engage with you.”

 Short on time? Jump to these highlights:

 3:30: “Leadership doesn’t happen by itself.” How Paul Menzel grew into the leader he is today.

6:45: Paul discusses managing a company successfully through four ownership changes and four recessions with same employee group.

 9:10: He talks about how emotional intelligence ties to leadership.

 11:25: At this time stamp, Paul talks about how to lead others to perform. “You need to know who your people are, they need to know you,” he says.

 15:00: The conversation turns to creating authentic connections online, especially when making hiring decisions.

 20:00: Paul explains creating a strong corporate culture.

24:30: He branches into developing empathy as a leader, and why that’s important. Soon after, he discusses “being who you really are” with a team.

34:45: Paul explains how to be “emotionally brilliant in the moment” when making tough decisions.

 

 

 

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Don’t Miss These ELFA Convention Highlights https://thealtagroup.com/elfa-convention-highlights/ https://thealtagroup.com/elfa-convention-highlights/#respond Tue, 13 Oct 2020 16:54:07 +0000 https://thealtagroup.com/?p=10504 Social distancing precautions may have forced the Equipment Leasing and Finance Association (ELFA) annual convention to move online this year, but the pandemic has not dampened the lineup for the event.  In fact, it has inspired a number of stimulating sessions and speakers planned Oct. 27-28 for ELFA 2020 Business LIVE. Panel discussions will include […]

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Social distancing precautions may have forced the Equipment Leasing and Finance Association (ELFA) annual convention to move online this year, but the pandemic has not dampened the lineup for the event.  In fact, it has inspired a number of stimulating sessions and speakers planned Oct. 27-28 for ELFA 2020 Business LIVE.

Panel discussions will include “Has COVID 19 Ushered in the Leasing Company of the Future?” and “Finding Growth After COVID: A Search for New Green Pastures.” The event will also explore other topics of critical interest, from “How Data Analytics Can Improve Your Business Results” to “Optimizing Managed Bundled Services and Market Practices.”

Learn more about these sessions and the industry experts involved in them, including The Alta Group’s Valerie L. Gerard, Patricia Voorhees, David Wiener, Paul Bent and Diane Croessmann.

Has COVID 19 Ushered in the Leasing Company of the Future?
Time: 1 p.m. – 2 p.m. Tuesday Oct. 27

Speakers:

    • Valerie Gerard, Senior Managing Director and Practice Leader, The Alta Group; Mark Duncan, EVP & GM Commercial Finance, Hitachi Capital America; Patricia Voorhees, Director, The Alta Group; Gabrielle Haddad, COO and Co-Founder, Sigma Ratings; Jeffrey Rogers, President & CEO, LiftForward, Inc.

Brief Summary:

    Panelists will examine how COVID-19 is accelerating the adoption of new market-driven practices, business models and products. They will examine current examples in the industry, the financial impact including new KPIs, and the influence of ESG (Environmental, Social and Governance) criteria being applied by investors, customers and employees.

Finding Growth After COVID: A Search for New Green Pastures
Time: 1 p.m. – 2 p.m. Wednesday Oct. 28

Speakers:

    • David Wiener, Managing Director, The Alta Group; Michael Fanger, President, Eastern Funding LLC; Adam R. Ramirez, Chief Risk Officer, Tokyo Century (USA) Inc.; Jonathan Fales, Divisional President, VAR Technology Finance

Brief Summary:

    • While facing the headwinds of out-of-favor industries and equipment types, many companies want to grow. Three equipment finance companies have forged distinctively different paths to explore and enter new markets, and we have asked their leadership to offer insights. This session will also include the perspective of an industry consultant who has forged a set of tools that help companies map their way to growth.

How Data Analytics Can Improve Your Business Results
Time: 2:30 p.m. – 3:30 p.m. Wednesday Oct. 28

Speakers:

    • David Wiener, Managing Director, The Alta Group; Bill Choi, VP, Research & Industry Services, ELFA

Brief Summary:

    ELFA’s annual Survey of Equipment Finance Activity (SEFA) contains the world’s most comprehensive information on the equipment leasing and finance industry. Most readers scan total volume and equipment mix but stop short of utilizing tools to harness the data and gain a competitive edge. This session will include an overview of the 2020 SEFA, discuss the new “interactive SEFA” dashboard, and demonstrate how to extract key data points of interest.

Optimizing Managed Bundled Services and Market Practices
Time: 2:30 p.m. – 3:30 p.m. Wednesday Oct. 28

Speakers:

    • Dominic Liberatore, Deputy General Counsel, DLL; Paul Bent, Senior Managing Director, The Alta Group; Larry Scherzer, Director Strategy and Product Development, Cisco Capital; Diane Croessmann, Director, The Alta Group

Brief Summary:

    • The panel will discuss what managed/bundled services contracts are (and are not); market trends and why this should matter to your business; examples of current applications of subscription, usage, and service type models; operational considerations including embedded service or metered options; specifics related to COVID; complexities in managing compliant billing, accounting, and UCCs; and other important considerations.

 

Click here for the conference website and registration

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The Alta Group Appoints Rick Remiker, Paul Menzel as Vice Chairmen https://thealtagroup.com/the-alta-group-appoints-rick-remiker-paul-menzel-as-vice-chairmen/ https://thealtagroup.com/the-alta-group-appoints-rick-remiker-paul-menzel-as-vice-chairmen/#respond Tue, 13 Oct 2020 02:16:36 +0000 https://thealtagroup.com/?p=10491   GLENBROOK, NV, OCT. 13, 2020– The Alta Group has appointed Rick Remiker and Paul Menzel as Vice Chairmen.  These highly regarded equipment leasing and finance industry leaders bring recent industry experience and support Alta’s commitment to providing deep industry expertise based on real world, true hands-on experience as market leaders and leasing executives. Remiker, […]

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GLENBROOK, NV, OCT. 13, 2020– The Alta Group has appointed Rick Remiker and Paul Menzel as Vice Chairmen.  These highly regarded equipment leasing and finance industry leaders bring recent industry experience and support Alta’s commitment to providing deep industry expertise based on real world, true hands-on experience as market leaders and leasing executives.

Remiker, based in Chicago, previously served as senior executive vice president and lead commercial banking executive of Huntington National Bank. Menzel, of Santa Barbara and Seattle, was president and CEO of Umpqua Bank Equipment Leasing & Finance as well as Financial Pacific before it was acquired by Umpqua Bank.

Both Rick and Paul have enjoyed very successful careers in complementary segments of the equipment financing market. Having faced a variety of operational challenges during their careers, they have a unique ability to assess problems quickly and determine relevant solutions, adding to Alta’s existing collective knowledge and insight.

“I’ve spent my entire career in this industry, and I care deeply about it,” said Remiker, who described his new opportunity as one that allows him to work with the industry’s preeminent consultants—leaders who “live and breathe this business.”

“I’m looking forward to engaging with business leaders I know and helping new generations of leaders tackle emerging challenges,” Remiker added.

He said his unique experience at the bank parent level gives him perspective that will be valuable as a consultant. He has navigated many economic cycles as a C-suite executive and as an industry leader.  Remiker’s past leadership roles in commercial banking afforded him unique insights into regulatory, risk-management and investor relations, he said.

Over the years he has been a passionate advocate of “insight-led” relationship management, which delivers tailored, actionable insights to clients and prospects. He served on Huntington’s senior credit and risk management committees, and during his tenure the bank experienced rapid financial growth through his innovative business strategies and his role in specialty acquisitions.

“Rick and Paul complement each other well,” said John C. Deane, CEO and chairman of The Alta Group. He noted that Paul brings a wealth of knowledge from a small-ticket perspective in both independents and banks, while Rick has more bank experience in mid-to large-ticket sectors.

Both Remiker and Menzel served as board members of the Equipment Leasing and Finance Association (ELFA), and Remiker was appointed chairman in 2013. He was also a two-term trustee in the Equipment Leasing & Finance Foundation, the U.S. industry’s non-profit research organization.

When Menzel was on the ELFA board he chaired the association’s Code of Fair Business Practices and Small-Ticket Business Council committees.  He also served on the association’s Industry Future Council.

He became a CLP (now CLFP-Certified Leasing and Finance Professional) in 1990 and participated in the development of the original CLP handbook.

“I’m a big proponent of leadership development as a strategy to support successful growth within an organization,” Menzel said. “My long career in the leasing industry, through a variety of challenging successes, has been very rewarding.  It is time give back to the next generation of leaders. This advisory role with Alta will allow me to do so while also enjoying the next chapter in my career.”

“I’ve always seen myself as a lifetime learner as a means to keeping life interesting and furthering my career,” he said. “I believe that ‘knowledge is king’ in creating a positive outcome in any situation, so I have lived by that tenet in advancing my leasing career.”

Menzel arranged the sale of Financial Pacific Leasing to Umpqua Bank in 2013, establishing a bank leasing subsidiary operating in all markets of the leasing industry, from small-ticket to middle-market transactions in third-party origination, vendor and direct channels.

Menzel has spent two-thirds of his career in the industry at a division or subsidiary of a bank within a regulated environment. The balance of his career has been spent working under private equity ownership as an independent operation, he said. When he joined Financial Pacific Leasing in the depths of the Great Recession in 2008, Menzel was able to lead the company through that challenging economic cycle and grow the business to $1.5 billion in assets—achieving six-fold growth in six years.

His proudest achievement, he said, was keeping the same team of employees together through all the changes in ownership and finding owners that supported their business plans.

About The Alta Group

The Alta Group is the leading global consultancy dedicated exclusively to the business of equipment leasing and asset finance. Since 1992, Alta has represented equipment leasing and finance companies, vendor/captive finance organizations, financial institutions, manufacturers and service providers, offering counsel on strategy and competitive alignment, asset management, business quality assurance, digital business transformations, legal services, mergers and acquisitions, and professional development. For information on the group’s services in the United States and Canada, Latin America, Europe, the Middle East and Africa, China, and Asia Pacific, visit www.thealtagroup.com and follow us on Twitter @thealtagroupllc.

 

Media Contact:

Susan Carol, APR

540-847-1804

sca@scapr.com

 

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In Monitor Webinar John Hurt Discusses New Urgency for Adopting and Accelerating Technology https://thealtagroup.com/in-monitor-webinar-john-hurt-discusses-new-urgency-for-adopting-and-accelerating-technology/ https://thealtagroup.com/in-monitor-webinar-john-hurt-discusses-new-urgency-for-adopting-and-accelerating-technology/#respond Fri, 25 Sep 2020 11:27:14 +0000 https://thealtagroup.com/?p=10442 In a Sept. 17 livestream webinar sponsored by The Monitor, The Alta Group’s John Hurt, a director who leads digital business consulting, discussed the critical steps equipment finance companies are taking to jump-start their transition toward digital technology. The COVID-19 pandemic has brought a new sense of urgency to how leasing companies are working, and […]

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John Hurt, 2nd from Left

In a Sept. 17 livestream webinar sponsored by The Monitor, The Alta Group’s John Hurt, a director who leads digital business consulting, discussed the critical steps equipment finance companies are taking to jump-start their transition toward digital technology. The COVID-19 pandemic has brought a new sense of urgency to how leasing companies are working, and the stakes have never been higher, Hurt says.

“I would urge leasing companies to look at their processes and digitize them as early as they can. Creating electronic workflows, approvals, chains—whether through their ERP or through some other methodology—is critical,” Hurt says.

According to Hurt, leasing companies that had neglected their digital transformation are now finding themselves playing catch up—and in some cases in a race to ensure the very survival of their company. “The people we see going into the office during this pandemic were typically the accountants—because all their data was on paper. Their attempt at digitization was to scan that paper and then go electronic from there,” Hurt notes. The alternative of having embraced and made meaningful progress toward digitally transforming their business would have put them far ahead of the curve and better situated to deal with the pandemic’s constraints.

“If they had electronic bill presentment, if they had electronic approvals, if they had electronic credit approvals built as workflows within an ERP or within a CRM—basically, the earlier they would have gotten that material into a digital format where it could be passed around electronically, without having to touch it—the better,” Hurt says. “When you’ve done this,” Hurt concludes, “you’ve given your people the ability to work on important tasks, not just move paper around.”

Hurt was joined on the webinar by three other thought leaders representing the equipment finance industry: Steve Siler and Chris Thorpe–CTOs, respectively, of Stonebriar Commercial Finance and DLL–and Tina Cartwright, senior VP of IT at US Bank EF. All shared firsthand accounts and case studies of how the shift to embrace technology has accelerated in their companies and the many ways the transition is already helping its adopters cope with the changed landscape for leasing companies today. All agreed the need to deploy technology has never been a greater priority.

“You’ll never get to 100%, but if you can get to 80%, you’ve just unloaded a ton of work from your people and given them the ability to work on important work as opposed to mundane work,” Hurt says. Clearly, a digital transformation can go a long way toward alleviating the stresses already being imposed in these areas by the pandemic.

 

 

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Leaders in Monitor Event on Charting a Course Through the Pandemic Offer Positive View on EF Future https://thealtagroup.com/leaders-in-monitor-event-on-charting-a-course-through-the-pandemic-offer-positive-view-on-ef-future/ https://thealtagroup.com/leaders-in-monitor-event-on-charting-a-course-through-the-pandemic-offer-positive-view-on-ef-future/#respond Mon, 21 Sep 2020 14:57:47 +0000 https://thealtagroup.com/?p=10428 In a Sept. 10 Monitor webinar on charting a course through the Covid-19 pandemic, Alta’s Diane Croessmann and several other thought leaders representing the equipment finance industry offered observations and advice from their various perspectives. The panelists all stressed the importance of putting customers first, focusing on how the global healthcare crisis has affected them. […]

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In a Sept. 10 Monitor webinar on charting a course through the Covid-19 pandemic, Alta’s Diane Croessmann and several other thought leaders representing the equipment finance industry offered observations and advice from their various perspectives.

The panelists all stressed the importance of putting customers first, focusing on how the global healthcare crisis has affected them. They advised finding ways to fully understand their challenges and being in touch personally, and not just about business. While staying grounded to manage business risks, they proposed being creative to accelerate technology adoption and prepare for emerging opportunities.

“Virtually every business and employee has been impacted by Covid-19.  The role that the equipment leasing and financing industry can play to support the recovery occurs on many levels,” said Croessmann. “We all need to embrace new norms, address employee concerns and examine emerging technology options. Most importantly, companies need to do all of this with tremendous enthusiasm and optimism in order to find the new opportunities that exist.”

Restructuring was the first priority during the pandemic’s early months, she said, but now there is interest in identifying new markets and pushing forward on business models that enable consumption-based financing.

Croessmann also observed how some factories were able to pivot from their usual business to manufacturing personal protective equipment. She said that ability to be flexible and move from one operation to another for short-term fulfillment, along with automation, is creating a “flex factory” model, likely to become a trend.

Vince Belcastro of Element Fleet Management talked about the value of a consultative approach, and he said his team has become even more interactive with customers during this pandemic. He said Element is taking a longer view. “These times require delivering above-market quality service.”

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M&A Market Adopting a Wait-and-See Approach to COVID-19 https://thealtagroup.com/ma-market-adopting-a-wait-and-see-approach-to-covid-19/ https://thealtagroup.com/ma-market-adopting-a-wait-and-see-approach-to-covid-19/#respond Thu, 03 Sep 2020 16:41:12 +0000 https://thealtagroup.com/?p=10399   The effect of COVID-19 caused an abrupt halt to M&A activity in the equipment leasing and finance industry, Jim Jackson reports in this feature published by NEFA Newsline for the Jul/Aug 2020 edition. He is a managing director and The Alta Group’s Merger and Acquisition Advisory Practice leader. julaug20_Jackson  

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The effect of COVID-19 caused an abrupt halt to M&A activity in the equipment leasing and finance industry, Jim Jackson reports in this feature published by NEFA Newsline for the Jul/Aug 2020 edition. He is a managing director and The Alta Group’s Merger and Acquisition Advisory Practice leader.

julaug20_Jackson

 

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The 2020 Monitor 100: Relevance Revisited https://thealtagroup.com/the-2020-monitor-100-relevance-revisited/ https://thealtagroup.com/the-2020-monitor-100-relevance-revisited/#respond Thu, 03 Sep 2020 16:22:58 +0000 https://thealtagroup.com/?p=10390 The post The 2020 Monitor 100: Relevance Revisited appeared first on The Alta Group.

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David Wiener, a managing director with The Alta Group, is the author of this feature for the Monitor100  digital edition concerning the perfect storm created by Covid-19. He provides historical context while commenting on the Monitor data. He notes the largest equipment finance companies dominate the Monitor 100, with the top 25 alone holding a commanding market share exceeding 80% of all new originations.

 

 

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Former Huawei Financing Exec Joins Invigors to support Middle East and Africa https://thealtagroup.com/former-huawei-financing-exec-joins-invigors-to-support-middle-east-and-africa/ https://thealtagroup.com/former-huawei-financing-exec-joins-invigors-to-support-middle-east-and-africa/#respond Tue, 11 Aug 2020 12:01:03 +0000 https://thealtagroup.com/?p=10360 The post Former Huawei Financing Exec Joins Invigors to support Middle East and Africa appeared first on The Alta Group.

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Bruce Gau

Bruce Gau

 

 Previously held senior positions at Ericson & Nedbank Africa

 

DUBLIN, Ireland 11 August 2020 – Invigors, part of The Alta Group, has appointed Bruce Gau to support the group’s activities in the Middle East and Africa regions. His appointment further strengthens the fast growing Invigors’ team in EMEA and brings additional capability, especially in supporting corporate and project financing activities.

Bruce is a highly experienced financier with over 25 years of experience working across several locations in Africa and the Middle East. He has a strong track record of deal origination, deal making, solution management, customer service and transaction closure in the corporate and project finance area. He has successfully represented the interests of lenders and borrowers as well as suppliers and purchasers while leading global teams of asset financing specialists. Part of this work was the establishment of a pan-African network of relationships with banks, consultants, suppliers, and customers. 

Bruce’s most recent role was Director: Sales Finance Solutions with Huawei, based in China. In this role he was responsible for supporting the structuring and negotiating of sales financing solutions covering project finance, trade finance, export credit and vendor finance transactions. 

Prior to this, Bruce had various senior roles in a 12-year career with Ericsson covering the Sub-Saharan Africa region. His roles here included the establishment and heading up of the functions of Customer Financing, Working Capital Management and Bid/Proposal Management. His responsibilities covered all aspects of customer related financing in the region including project finance, export credit, third party finance, vendor finance and sale of receivables. Prior to Ericsson, Bruce had a 20-year career with Nedbank Africa where one of his roles was heading up their African cross-border financing team.

Bruce holds a Batchelor of Accounting degree and a post graduate Diploma in Banking Law with memberships of at the Institute of Chartered Accountants (South Africa) (AGA), the International Project Finance Association (IPFA), the International Corporate Treasurers Association (ICTA) and the Institute of Professional Accountants of South Africa (IPA).

Bruce Gau said “I am delighted to be joining the Invigors/Alta Group and their world class team, which has such deep industry experience and a reputation for excellence. I see Africa and the Middle East as having tremendous potential for the growth of innovative customer financing solutions and I look forward to the challenge of growing the business in this region 

Kieran O Brien, Executive Director of Invigors EMEA, said, “Bruce joins us at a time of fundamental changes in the asset and services financing arena. Bruce brings vast experience and a passion in the development of customer financing solutions for our customers. We are delighted to welcome him onto the Invigors/Alta team. 

He can be reached at +86 186 8873 0367.  

About The Alta Group  

The Alta Group is the leading global consultancy dedicated exclusively to the business of equipment leasing and asset finance. Since 1992, Alta has represented equipment leasing and finance companies, vendor/captive finance organizations, financial institutions, manufacturers and service providers, offering counsel on strategy and competitive alignment, asset management, business quality assurance, digital business transformations, legal services, mergers and acquisitions, and professional development. For information on the group’s services in the United States, Latin America, Europe, the Middle East and Africa, China, and Asia Pacific, visit www.thealtagroup.com and follow us on Twitter @thealtagroupllc.

 

Media Contact

Susan Carol, APR

sca@scapr.com  

+1 540 847 1804

 

 

 

 

 

 

 

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Monitor Web Event Features Alta’s Carl Chrappa Among Panelists Discussing Current Finance Industry Conditions and Expectations https://thealtagroup.com/monitor-web-event-features-altas-carl-chrappa-among-panelists-discussing-current-finance-industry-conditions-and-expectations/ https://thealtagroup.com/monitor-web-event-features-altas-carl-chrappa-among-panelists-discussing-current-finance-industry-conditions-and-expectations/#respond Fri, 17 Jul 2020 19:29:40 +0000 https://thealtagroup.com/?p=10089 The post Monitor Web Event Features Alta’s Carl Chrappa Among Panelists Discussing Current Finance Industry Conditions and Expectations appeared first on The Alta Group.

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Resiliency, declining asset values and deferrals were among multiple discussion points in a lively, Monitor-hosted virtual event in early July featuring Alta’s Carl Chrappa. Other participants were Ken Schneider of Great American Insurance, Tony Cracchiolo, of US Bank, Vendor Finance, and Bob Rinaldi of Rinaldi Advisory Services, who moderated the session. Among the take-aways:

  • Half of expected deferrals didn’t happen. Many customers had simply requested them as insurance against worst-case scenarios;
  • Propensity to lease may strengthen now as lessees seek to preserve cash;
  • Assets that can be used for more than one purpose and those classified as essential use are in greater demand than others;
  • Stick rates are increasing, but asset values are generally decreasing—as much as 40 percent;
  • Standard credit analysis is not valid in today’s environment.

Asked if the current economic downturn is different from others, Chrappa said yes, because the virus is new, which makes responses to it and predictions about it difficult. Chrappa said two to three years could pass before the equipment finance industry again sees new business volume at 2019 levels. Even so, Chrappa observed that a number of used asset classes are still performing well, including autos and trucks, construction equipment, machine tools, and computers. Among negative performers are aviation, marine, rail, oil and gas, steel foundries, furniture, and printing. Schneider voiced optimism about the second half of 2020, saying he expects gradual improvement in new business growth “as long as we don’t have another business shutdown.” Cracchiolo reported seeing new transactions to lease or to maintain contracts already in place while these assets are needed, but he also said he’s seeing fewer upgrade requests.

When asked about the shape of the recession, Chrappa said it is an open “V,” starting at the top on one side and ending at the top on the other side–but not necessarily occurring quickly. The V-shape is illustrated in the following two slides representing data for specific sectors:
 

 

 

 

 

 

 

 

Cracchiolo said that one big difference in this recession compared to the Great Recession of 2007-2008 is that asset overcapacity is not now an issue.  Just as businesses paused during mandated Covid-19 shutdowns across the country, so, too, did manufacturing. “We don’t have a capital problem, a liquidity shortage or a credit problem,” he said, adding, “The question is: Will our clients have a revenue source?” Looking at rail and barge asset catagories, Chrappa said it may take both several years to recover. He suggested aircraft could take slightly less time; about two years. When asked about used machine tools, Chrappa said the category is faring well because it supports so many types of users, such as auto manufacturers, job shops, repair shops and finishing work. He noted that in 2019  there were some $4.5 billion in new machine-tool sales , but said that 2020 projections have been lowered by about 50 percent.

Panelists also discussed the industry’s big picture as deferrals end in the coming months. Schneider said he believes many lessors will look to do some workouts, but that his company developed repossession insurance during the Great Recession and is already getting calls for it. In closing, panelists advised caution, suggesting that equipment finance companies resist looking backward for answers and instead study individual sectors and businesses to assess their resiliency and risk in the current new environment. Carl Chrappa heads Alta’s Asset Management Practice.

Screen capture from Monitor Live event in July 2020 Post COVID-19: Risk Management & Business Resiliency. Moderator Bob Rinaldi CEO, Rinaldi Advisory Services (bottom left) Featured Guests: Ken Schneider Divisional SVP, Great American Insurance (top left) Carl Chrappa Senior Managing Director – Asset Management Practice Leader, (top right) The Alta Group, LLC Tony Cracchiolo CEO, US Bank Equipment Finance (bottom right)

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