Articles

TSL Express’ senior editor sat down with Tim Burniston, senior advisor, Regulatory Strategy for Wolters Kluwer Compliance Solutions to discuss the results of Wolters Kluwer’s Regulatory & Risk Management Indicator Survey. Burniston advises the Wolters Kluwer Governance, Risk, and Compliance executive leadership team and clients on emerging issues, legislative and regulatory developments, and regulatory strategy.

Now in its tenth year, the Indicator “takes the pulse” of the U.S. banking industry and is based on 10 different factors: compliance, regulatory environmental and risk management factors.  The Regulatory & Risk Management Indicator Survey was conducted between July 27-September 9, 2022, and received 328 responses. Survey respondents are primarily from smaller banks, savings and loan institutions and credit unions. Keeping pace with the volume, scope and breadth of regulatory changes topped the list of key concerns facing U.S. banks, credit unions, and other lenders. To learn more about the survey, click here.

Pemberton, a leading alternative credit specialist, has raised US$1bn for its Working Capital Finance (WCF) strategy.

The WCF strategy invests in receivables, payables, and inventory financings for large and mid-market companies in both the US and in Europe through an open-ended fund structure. The companies Pemberton invests in span a wide range of sectors, with a focus on IT and food businesses.

Encina Lender Finance, LLC (ELF) announced today the promotion of Dan Avnir to Chief Commercial Officer.  Dan had previously served as Managing Director, Originations.

In Dan’s new role, he will continue to lead ELF’s origination strategy across its commercial and consumer verticals.  Dan will also lead ELF’s syndications strategy by managing the capital markets initiatives for various portfolio companies.

Eclipse Business Capital LLC (“EBC”) announced that it has financed a $125 million senior secured debtor-in-possession (“DIP”) revolving credit facility to a mattress manufacturer.

The credit facility is secured by accounts receivable and inventory. The transaction facilitates a restructuring with existing lenders to de-lever and provide runway for a long-term business plan execution.

Hamilton, NJ-based First Bank has opened a new specialty financing group that will provide more options for business owners and entrepreneurs today. Michael Maiorino will head the asset-based lending unit as president.

Maiorino has worked in specialty financing since the 1980s, building out similar businesses for several banks. He has held positions as executive vice president and president of People’s United Business Capital, executive vice president and division president of Sovereign Business Capital, as well as division president at Fleet Capital, which is now Bank of America Business Capital, responsible for the business finance division.

As a leading authority and 25-year veteran of the investment and commercial banking sectors, Dave Kucera, head of Capital One’s Financial Institutions Group, sat with TSL Express’ senior editor to discuss best practices for managing market cycles. Including the commercial banking trends to watch out for in 2023 and key steps financial institutions can take to better navigate the current economic landscape. 

Factors discuss what surprised them in 2022, California’s disclosure laws, rising interest rates, the move from ABL to factoring and what they expect 2023 will bring.