Agreement provides Ohio community banks a commercial and
industrial loan-acquisition and risk-management program
Voya Investment Management, the asset management business of
Voya Financial, Inc. (NYSE: VOYA), and OBL BankServices, Inc.
(OBLBS), a subsidiary of the Ohio Bankers League, announced today
they have entered into a commercial and industrial (C&I) loan
growth partnership program known as the Voya Senior Loan Bank
Advisory Program.
While community and small regional banks have historically
excelled at small business underwriting and relationship
management, Voya’s C&I program recognizes the syndicated loan
market demands a broader industry knowledge and timely action.
Participating commercial banks benefit from Voya’s unique market
leadership, experience, relationships, credit risk management,
training and sourcing capabilities while effectively keeping
independent research and decision-making within their walls, thus
satisfying regulatory requirements.
“Our goal is to provide banks with a turnkey solution--combining
education, preparation and implementation to enable them to enter
the $1.4 trillion senior loan market,” said Randy Cameron, co-head
of the Voya Bank Advisory Group. “This asset class benefits banks
looking for a combination of loan diversification, asset growth,
interest and fee income, and floating rate assets.”
Under the Voya program, community and regional bank commercial
credit professionals build portfolios of senior secured commercial
and industrial loans. Banks may work individually to build
portfolios, one loan at a time, or cooperatively to share in a
portfolio of select loans These portfolios benefit from Voya’s
access to the new loan and secondary markets as well as strong and
ongoing loan underwriting and monitoring processes, which are
compliant with regulatory guidelines and prudent standards. Through
education and mentoring, banks learn about the implementation and
monitoring of compliant portfolios that offer diversification,
value recognition and loss avoidance as their core objectives.
“We’re excited about this newly founded endorsed business
partnership with Voya Investment Management as it is going to
provide our member banks access to unparalleled resources,
empowering them to navigate today’s complex financial landscape
with confidence and drive sustainable growth,” said Michelle Crume,
executive director of OBL BankServices. “Together we will be
bringing two new solutions to our Bank Members that will expand
their commercial and industrial loan offerings at a time when this
may be a much-needed resource.”
“The goal of OBL BankServices is to provide member banks with a
turnkey solution that combines education, preparation and
implementation to enable them to enter the $1.4 trillion senior
loan market,” said Crume. “This asset class benefits banks looking
for a combination of loan diversification, asset growth, interest
and fee income, and floating rate assets.”
OBL Bank Services, Inc. (“OBLBS”) has entered into a
Solicitation Agreement (the “Agreement”) with Voya Investment
Management Co. LLC (“Voya”) under which OBLBS solicits clients for
the Voya Senior Loan Advisory Program and/or the Voya Senior Loan
Shared Portfolio Program (each, a Program, and together, the
“Programs”).
As part of OBLBS’ services under the Agreement, OBLBS and its
personnel may make favorable statements regarding Voya and its
products and services, including a Program. Such statements
constitute “endorsements” for purposes of Rule 206(4)-1 under the
Investment Advisers Act of 1940.
Under the Agreement, in exchange for its services (including
making such endorsements), OBLBS will receive cash compensation
from Voya, consisting of up to 5.0 basis points (.05%) computed
based on the Target Portfolio Commitments to the Programs that are
agreed upon by clients solicited by OBLBS. In addition, Voya has
agreed to pay and maintain Affiliate Members status with OBLBS and
support OBLBS through various event sponsorships. Other than the
incentive such compensation gives OBLBS to endorse Voya, there are
no material conflicts of interest resulting from OBLBS’
relationship with Voya.
No costs or charges will be incurred by any client by reason of
having been referred to Voya by OBLBS However, the presence of
these arrangements may affect Voya’s willingness to negotiate below
its standard advisory fee, and therefore may affect the overall
fees paid by referred clients.
OBLBS is not a Voya client and OBLBS and Voya are not
affiliated. Also, OBLBS is not authorized to provide investment or
other advice on behalf of Voya or to act for or bind Voya. No asset
advisory agreement with Voya will become effective until accepted
by Voya.
About OBL Bank Services, Inc.
OBL BankServices, Inc. (OBLBS) is the for-profit division of
Ohio Bankers League (OBL) Each preferred vendor is carefully
researched and approved by the OBLBS Board of Directors — selected
by bankers for bankers — to ensure quality, consistent product and
service delivery. OBLBS offers a full line of products and services
to meet your bank’s needs. Visit ohiobankersleague.com to learn
more.
About Ohio Bankers League
Ohio Bankers League is the trade association for the Ohio
banking industry — and is Ohio’s only organization focused on
meeting the needs of all banks and thrifts in the Buckeye State.
For more than 125 years, the OBL has been the voice of the Ohio
banking industry fostering a cooperation that has made it one of
the strongest and most reputable financial trade associations in
the country. By linking banks, bankers, and industry experts — and
by pooling their intellectual and capital resources — the OBL
serves as a powerful creator of knowledge and collective resources.
The non-profit association is comprised of 174 FDIC-insured
financial institutions including commercial banks, savings banks,
and savings and loan associations ranging in size from just over
$13 million in assets to more than $1.5 trillion.
About Voya Investment Management
Voya Investment Management (IM) manages approximately $331
billion as of March 31, 2024, in assets across public and private
fixed income, equities, multi-asset solutions and alternative
strategies for institutions, financial intermediaries and
individual investors, drawing on a 50-year legacy of active
investing and the expertise of 300+ investment professionals. Voya
IM has cultivated a culture grounded in a commitment to
understanding and anticipating clients’ needs, producing strong
investment performance, and embedding diversity, equity and
inclusion in its business.
VOYA-IM
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version on businesswire.com: https://www.businesswire.com/news/home/20240725225708/en/
Media: Voya Financial Kristopher Kagel (212) 309-6568
Kristopher.Kagel@voya.com
Ohio Bankers League Audra Johnson Director of Communications
(614) 340-7621 ajohnson@ohiobankersleague.com
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