Synovus Launches New Specialty Finance Division and Structured Finance Team
COLUMBUS, Ga.--(BUSINESS WIRE)--Sep 9, 2019--
Synovus Bank announced the launch of a new Specialty Finance Division, focused on providing debt capital financing and commercial banking solutions to fund companies operating in niche asset classes. The division includes the addition of a structured finance team and builds on the expertise of Global One Financial, the insurance premium finance lender acquired by Synovus in October of 2016. The division will be led by Jonathan Rosen, who founded Global One in 2003 and continues to manage it as chief executive officer of the Specialty Finance Division at Synovus. Since its acquisition by Synovus, Global One has grown its loan balances from $350 million to more than $900 million, while maintaining its long history of outstanding credit, with no credit losses.
“This new specialty finance team focused on structured lending is a great addition for Synovus at the current stage of the economic cycle,” said Kevin Blair, chief operating officer of Synovus. “The new team allows us to grow prudently by lending to companies with high-quality underlying assets, while mitigating risk through financial structures and adding value to transactions. It also leverages the industry relationships, structured lending capabilities, and culture of innovation built by Jonathan and the Global One team, who have been a significant source of growth and enhanced profitability for us.”
The Synovus structured lending team offers senior secured loans targeting companies that require a consultative approach to transaction structure in unique asset classes or situations.
A group of industry veterans have joined the firm to spearhead this new effort:
Carvo and Mazo are based at the Specialty Finance offices in Atlanta and Krishnan and Patel are based in the New York office.
“I’ve known this team of professionals for years and they are among the most talented people in structured finance,” said Rosen. “We are well positioned to create meaningful positive impact for clients in both good times and bad, while mitigating risk through asset focus, value-added intellectual capital, and specialized structuring capabilities.”
The Specialty Finance Division is a business unit of the newly defined Wholesale Bank line of business for Synovus and represents an additional investment to deliver continued organic growth while enhancing overall returns.
Synovus Bank, a Georgia-chartered, FDIC-insured bank, provides commercial and retail banking, investment, and mortgage services together with its affiliates through 297 branches in Georgia, Alabama, South Carolina, Florida, and Tennessee. Synovus Bank has been recognized as one of the country’s “Most Reputable Banks” by American Banker and the Reputation Institute. Synovus Bank is on the web at synovus.com, and on Twitter, Facebook, LinkedIn, and Instagram. Equal Housing Lender.
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CONTACT: Lee Underwood
KEYWORD: UNITED STATES NORTH AMERICA GEORGIA
INDUSTRY KEYWORD: BANKING PROFESSIONAL SERVICES FINANCE
SOURCE: Synovus Financial Corp.
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PUB: 09/09/2019 08:00 AM/DISC: 09/09/2019 08:01 AM