NEW YORK–(BUSINESS WIRE)–Bank Leumi USA today announced that it has hired John DePledge to lead its New York-based asset-based lending (ABL) business. In this role, DePledge will manage the continued expansion and growth of the bank’s ABL practice, launched by Leumi in 2018.
Over his 30-year career in corporate finance, DePledge has successfully developed and grown asset-based lending practices at major North American banks through various economic and market cycles. He most recently served as Chief Business Officer and National Sales Director for Citibank’s Asset-Backed Lending Unit, where he led product development and closed over $2.5 billion in new business.
“Over his three-decade career, John has built an impressive track record in establishing and growing successful asset-based lending practices,” said Shawn McGowen, Chief Banking Officer at Leumi. . “His experience and strong relationships in middle market lending are valuable assets as we grow our asset-based lending business.”
Prior to Citibank, DePledge was a business development manager at TD Bank, where he established the company’s ABL Mid-Atlantic lending capability. He has also held various positions for LaSalle Business Credit, People’s United Bank, Citytrust Bank and Associates Commercial Corporation.
DePledge is the president of the Secured Finance Network (SFN), formerly known as the Commercial Finance Association, and sits on the board of the Secured Finance Foundation. Previously, he served on the Board of Directors for the Philadelphia Chapter of the Turnaround Management Association and is a Past President of the Philadelphia Chapter of SFN. He earned an MBA in Finance from Sacred Heart University and a Bachelor of Science in Accounting from Franklin Pierce University.
Leumi’s Commercial Banking division specializes in servicing certain sectors, products and types of assets in the US middle market, including healthcare, technology, apparel and real estate. Its bankers focus on market sectors with the greatest growth potential and work closely with a diverse list of clients in each sector to develop customized solutions that best meet their business needs. It offers asset-based loans from $5,000,000 to $30,000,000 for working capital, refinancing, acquisitions, mergers, turnarounds and growth.
Bank Leumi USA (Leumi) is a full-service commercial and private banking institution that provides financial services to middle-market businesses, as well as a full range of private banking solutions to domestic and international clients. Leumi also offers a wide range of securities and insurance products through its brokerage subsidiary, Leumi Investment Services Inc. More information about Leumi is available at www.leumiusa.com.