Angie DeGore

Senior Vice President, Webster Business Credit Corporation (WBCC)

Biography:

Angie DeGore is a senior vice president of Webster Business Credit Corporation (WBCC). Angie leads a nationwide team of 10 new business development officers and direct market research analysts. Webster Business Credit Corporation provides asset-based loans to mid-sized companies across the United States looking for financing from $5-$100MM. Angie is a player/coach and as such is responsible for both new deal origination and managing her team. She has worked in the banking industry over 20 years, 15 of those years in a leadership position where she has consistently ensured the long-term viability and profitability of her team. Angie facilitated the growth of WBCC into a $1.8 billion LOC ABL player. Angie has been working at WBCC (formerly IBJ Whitehall) since 2001. Prior to her tenure at WBCC, Angie has held various positions with National Bank of Canada, Bank of America, Key Bank and Chemical Bank. Angie has been an active member of the Association for Corporate Growth, the Secured Finance Network, The Women in Commercial Finance and Children’s Storefront. She has lectured at the Harvard Business Club and at Fordham University. She attended George Washington University and Hofstra University, where she holds a BBA in Accounting.

What advice would you offer to women just starting out in the industry?

My advice to women beginning in the industry is to be prepared to learn every day. I find that I am constantly still learning. As a woman with a new career path ahead of you, it’s important to work hard and recognize your strengths and not to be afraid to speak up and ask questions. Focus on listening and be prepared to respond with solutions. Confidence in yourself and your abilities will send the message that you are ready and willing to learn and grow in your new organization.

Be patient and yet persistent; success will come. Always be enthusiastic and set goals, hold yourself accountable and make yourself essential to the organization. Create a foundation for your career but be open to different paths.

What do you know now that you wish you knew in the beginning of your career?

I wish I understood the importance of networking, both internally and externally. There cannot be enough said about meeting new people and the opportunities it presents for fostering new relation- ships. Bonding with colleagues gave me a sense of camaraderie in the workplace. I also found that, by collaborating with competitors, much can be learned and new ideas can be generated with regard to new products, deal structure and market intelligence. Be prepared for the ups and downs in the workplace; they are a necessary part of your career experience. You will learn from your struggles, but don’t fear making mistakes. Looking back, I should have celebrated my successes more. I would also advise to keep an open mind as the path you started on may not be where you find your career success.

What kind of role has mentoring and/or sponsorship played in your career?

I have had a number of mentors through- out my career who became long-lasting friends. The roles they played were important in my professional development by introducing me to connections, taking me to events and meetings and were a general sounding board for my concerns and questions. It was a mutually beneficial relationship based on trust. These relationships helped to improve the work environment. My mentors helped provide me with insight into the organization.

They invested in me as a person and encouraged me to take chances. My achievements and successes were applauded and areas that needed improvement were honestly pointed out and corrected. One of my greatest pleasures is to act as a mentor to younger associates. I am proud to see them progress, grow and ultimately pay it forward.

What do you think the industry could do to attract the best and the brightest today?

In order to entice the best and the brightest, younger people need something to attract them to the industry. Unlike previous generations, this group of young professionals is fairly mobile and not tied to a company or specific geographic region. In order to woo top graduates, you need to start while they are still in school. Asset-based financing is not usually covered in the classroom so recruiting and internships become vital to attract new talent. Training programs provide a great way to gain on-the-job experience and career path options will keep new talent engaged and happy in the work- place. Having exposure to clients and witnessing the challenges and successes involved in our business will give them a more complete picture of both the career path and the organization. Here at Webster Business Credit Corporation, we continually invest in our people, acknowledge success and offer them flexibility with varied day-to-day tasks.