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Modern Bank Launches Equipment Finance, Asset-Based Lending Unit

April 10, 2015, 07:16 AM
Filed Under: New Venture

Modern Bank, N.A. announced that Michael C. Nedder has joined the bank as Managing Director and Head of Asset Finance.  He will be responsible for growing the new business lines of Equipment Finance and Asset Based Lending.  Asset Finance will be national in scope with the initial phase focusing on an institutional buy-side strategy.  Large corporate and middle market borrowers will be the bank’s target markets.

“Mike is a key addition to our bank and the Commercial Markets team,” said Damian Kozlowski, President and Chief Executive Officer of Modern Bank.  “His experience will help us build an Asset Finance business to complement the bank’s other lending activities.”

Nedder has over 15 years of secured specialty finance experience.  In addition to his banking background, he spent the past seven years in new business development at Stabilis Capital and Silver Point Capital.  Previously, Nedder was at Emigrant Business Credit Corporation and ORIX Credit Alliance.

“Equipment finance and asset-based lending will help diversify the bank’s portfolio and product offering and we are confident that Modern Bank will be successful in these areas under Mike’s leadership,” said Curt Lueker, head of Commercial Markets.

Nedder resides in Greenwich, Connecticut with his wife and daughter where he is active in various charitable community groups.

Modern Bank is a New York-based commercial bank that works directly with entrepreneurs and executives to provide financing and banking solutions. The bank's capabilities are aligned with client segments that comprise the principal economic sectors in the greater New York metropolitan area: commercial markets, private equity and commercial real estate.

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