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Altneu Joins Sterling to Lead ABL Originations in Northeast

August 18, 2016, 07:46 AM

Sterling National Bank, the principal subsidiary of Sterling Bancorp, announced Stephen Altneu has joined the organization as Managing Director of its asset-based lending business. In his new role, Altneu will be responsible for overseeing asset-based loan origination across the Northeast U.S.

Altneu brings more 25 years of financial services experience to Sterling, with deep experience in the areas of buyouts, acquisitions, and recapitalizations. His addition to the bank's fast-growing asset-based lending business underscores Sterling's commitment to providing highly-customized services using a team-based client service model. Altneu will be based in New York City and directly report to Michael Haddad.

"Steve is a great addition to our origination efforts in the Northeast Region," said Haddad, Division President Asset Based Lending for Sterling. "He adds depth to our team with a valuable combination of marketing coverage, credit skills and deal execution experience."

Prior to joining Sterling, Altneu held prominent positions at Capital One Business Credit Corp., Merrill Lynch, and Comerica. At Capital One, he was responsible for generating opportunities, structuring transactions, conducting initial credit underwriting, and overseeing closing. He was the top business originator at Capital One in 2009, 2011, 2012 and 2013, with transaction sizes ranging from $5 million to $70 million.

Sterling Asset Based Lending provides asset-based loans to mid-sized companies operating across a wide range of industries in the middle market. Sterling offers a variety of flexible financing options through a combination of revolving lines of credit and term loans, employing funds from $5 million to $40 million.

Sterling National Bank, the principal subsidiary of Sterling Bancorp, specializes in the delivery of service and solutions to business owners, their families, and consumers in communities within the greater New York City area through teams of dedicated and experienced relationship managers.

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