Regions hires former US Bank leaders to establish new unit – Birmingham Business Journal – Birmingham Business Journal

Regions Equipment Finance Corporation (REFCO), a subsidiary of Regions Bank, has launched a technology solutions platform and team.
Jay Cannon, former eastern region manager for U.S. Bank’s Technology Finance Group, will lead the team and platform, serving as REFCO’s technology solutions market manager and South Central technology solutions relationship partner. He will be joined by Mark Moro and Riley Thompson, who also worked for U.S. Bank’s Technology Finance Group.
The new platform will identify leasing and financing opportunities for business clients to access necessary equipment for their operations. Cannon, Moro and Riley have experience helping companies with technology-related equipment. Cannon has held leadership roles with Bombardier Technology Management Finance and IBM Credit LLC. Moro supported leasing and project financing in the tech industry prior to joining U.S. Ban, and Thompson worked in business banking with U.S. Bank for 20 years.
“The information technology sector will continue to be one of the fastest-growing segments of the equipment finance industry. In bringing Jay and his team on board, we are well positioned to serve the needs of our clients with consultative advice coupled with structures tailored to meet their individual goals,” said Will Perry, executive vice president and head of REFCO. “As companies continue to digitize, move to cloud-based platforms, and stay current with digital security needs, our team will provide leading-edge solutions, helping clients guard against technological obsolescence and leverage best practices designed to support and enhance their operations not only today – but well into the future.”
Regions has seen a growing opportunity “for some time” to provide finance services for technological equipment to expand REFCO’s services, Regions spokesperson Jeremy King told the BBJ.
Regions intends to expand the team, which is began forming in the second half of 2021, as it builds relationships with existing clients and adds new clients, but does not have a set timeline for growth.
“We see tremendous potential to build on this area of focus as Regions consistently enhances its specialty capabilities,” King said.
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