Bank Leumi USA announced that it has hired Mark Fagnani to head its new Asset-Based Lending (ABL) business, which will be based in its New York headquarters. In this role, Fagnani will be responsible for leading the establishment and growth of this critical business, including building a successful team that will have national client coverage.

“Hiring Mark is a natural step for Bank Leumi as we continue to build the best boutique, relationship-driven bank for entrepreneurs,” stated Shawn McGowen, Head of Commercial Banking. “Mark is a proven leader with unparalleled industry experience who will grow our Asset-Based Lending business and strengthen our client relationships throughout the country.”

Fagnani worked for Congress Financial and its successor companies, First Union Business Credit, Wachovia Capital Finance and Wells Fargo Foothill (now known as Wells Fargo Capital Finance), for more than 30 years. During this period, Fagnani held a number of senior roles, including Chief Credit Officer where he chaired the senior credit committee and helped manage $24B in commitments with more than 650 separate borrowers. He also helped to establish HVB Capital, a subsidiary of Hudson Valley Bank, and EverBank Business Credit, where he launched the firm’s Healthcare ABL practice. Fagnani earned his BBA in Accounting and Finance at Baruch College.

Leumi’s Commercial Banking division specializes in serving select industries, products and asset types in the U.S. middle market, including healthcare, media & entertainment, high tech, apparel and real estate. Its bankers focus on market areas with the most growth potential and work closely with a diverse roster of clients in each sector to develop custom solutions that best support their business needs.