BOSTON, Aug. 13, 2019 /PRNewswire/ -- Santander Bank today announced that Paul Cronin has been selected to lead the Bank's
asset based lending ("ABL") business in its Commercial Banking
division. Cronin will be responsible for growing Santander's ABL
business, a full-service provider with a highly diversified
portfolio and particular expertise in equipment financing,
wholesale trade and financial services. Cronin reports to
David Swoyer, Santander Bank's head of Commercial Banking.
Cronin joins Santander from KeyBank, where he most recently
served as head of ABL and Commercial Dealer Finance. At KeyBank,
Cronin significantly grew its ABL business by expanding debt
capital markets penetration, improving client focus, and
strengthening underwriting and risk management processes. He also
co-led the integration and transition process following the KeyBank
and First Niagara merger. Prior to that, Cronin served as head of
asset based lending at First Niagara, and earlier in his career he
held senior corporate and commercial banking positions at HSBC and
RBS. Cronin earned a Master's in Business Studies (M.B.S.) in
Finance from University College Dublin in Ireland. He resides in Darien, Connecticut.
In addition to Cronin, Santander has appointed Arthur Pesavento as senior vice president
("SVP") and business development officer in its ABL group.
Pesavento is based in Chicago and
reports to Cronin.
Before joining Santander, Pesavento was a managing director at
Gemino Healthcare Finance where he launched the business
development efforts in Chicago and
throughout the Midwest. Prior to Gemino, Pesavento was responsible
for all aspects of sales and marketing as an SVP and managing
director at Sterling National Bank/NewStar Business Credit.
"We have a strong growth and profitability plan in place for the
commercial businesses in the U.S. The collective experience of Paul
and Arthur, plus their industry knowledge and leadership record in
the asset based lending space, perfectly align with our goals,"
said Swoyer. "We're committed to continue investing in growing our
capabilities in the asset based lending space, and having a
seasoned, experienced team, with the ability to scale this type of
portfolio, will help us get there."
Santander Bank, N.A. is one of
the country's largest retail and commercial banks and an active
provider of capital, treasury management, risk management and
international solutions. Santander earns the loyalty of its
commercial banking clients by offering services that help them
manage their operating needs, maximize their working capital and
grow their businesses domestically and internationally. The Bank is
a wholly-owned subsidiary of Madrid-based Banco Santander, S.A. (NYSE: SAN)
- one of the most respected banking groups in the world with more
than 125 million customers in the U.S., Europe, and Latin
America. For more information, please visit
https://www.santanderbank.com/us/commercial.
Media Contacts:
Laurie
Kight
214-801-6455
laurie.kight@santander.us
Nancy Orlando
617-757-5765
nancy.orlando@santander.us
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SOURCE Santander Bank