ELFA Names GreatAmerica President Stan Herkelman to Board

posted by Monitor Leasing News on Wednesday, October 27, 2010

ELFA Names New Board of Directors; Merrill Appointed Chair

The Equipment Leasing and Finance Association (ELFA) introduced its new Board of Directors and Officers, who will serve during the next 12 months.

David A. Merrill, president of Fifth Third Leasing Company, was named Chairman of the Board, and Crit DeMent, chairman and CEO of LEAF Financial Corporation, is now Chairman-elect.

The Chairman-elect and new board members were recommended by ELFA's nominating committee and approved by a vote of the general membership.

"The year 2011 marks ELFA's 50th anniversary, and we are extremely fortunate to have Dave Merrill to chair the Board of Directors during the upcoming milestone year," said ELFA President and CEO William G. Sutton, CAE. "Dave's leadership skills, industry knowledge and commitment to ELFA will be a tremendous asset to our members and the industry at large."

Merrill is a 29-year veteran of the commercial equipment finance industry. After joining Fifth Third Bank in 1991, he served in a number of positions in Direct Sales, Capital Markets and as National Sales Manager before assuming his current position as President. Prior to joining Fifth Third Bank, he held a number of sales and management roles at Chase Manhattan Leasing and Citicorp Industrial Credit.

"I am proud to serve as ELFA chairman this year," said Merrill. "It's an honor to represent the industry and I look forward to the opportunity to continue with ELFA's proud history of 'Equipping Business for Success' as we embark on our 50th anniversary."

Merrill is a long-standing member of ELFA. He previously served on the ELFA's Board of Directors and as Treasurer, Chair of the Funding Exhibition and Chair of the Capital Access Committee.

Other new members of the ELFA Board of Directors include:

Tom Askounis, President/Shareholder, Askounis & Darcy, P.C.; Stan Herkelman; President, GreatAmerica Leasing Corporation; Fred Sasser, President, Chicago Freight Car Leasing Co.; Jud Snyder, President, M&I Equipment Finance; Rick Remiker, President, Huntington Equipment Finance; Adam D. Warner, President, Key Equipment Finance; and, Robert J. Rinaldi, Executive Vice President, CSI Leasing, were elected by the Board of Directors to serve as ELFA Vice Chairs.

Thomas M. Jaschik, President, BB&T Equipment Finance, continues to serve as treasurer. William G. Sutton, CAE, serves as President and CEO.

Kenneth R. Collins, Jr., Chairman and CEO, Susquehanna Commercial Finance, Inc., is immediate past chair. In addition to Askounis, Herkelman, Sasser and Snyder, the following are also members of the ELFA Board of Directors:

Kent Adams, President, Caterpillar Financial Services Corporation
Justin Cooper, President, CHP Consulting
Anthony Cracchiolo, President, U.S. Bank Equipment Finance
Steve A. Grosso, President and CEO, CoActiv Capital Partners
John W. Heist, Jr., President, The Heist Group
Lauren Hill, Senior Vice President, Mesirow Financial Consulting
Harry J. Kaplun, President, Frost Leasing
Anthony Pacchiano, Vice President & General Manager, ADP Credit
Richard L. Ross, President, Summit Funding Group
David T. Schaefer, CLP, Managing Member, Orion First Financial
Larry A. Smilie, Managing Director, Banc of America Leasing
Kris A. Snow, President, Cisco Systems Capital
William F. Stephenson, Global Chief Commercial Officer, De Lage Landen Financial Services
Louis J. Vigliotti, Senior Managing Director, GE Capital Markets Group
Derek C. Wilkins, Vice President, Global Lease Operations, Steelcase Financial Services


About The Author

Since its launch in 1974, the Monitor has evolved into the leading independent trade publication in the equipment finance and leasing industry. Employing a unique content delivery format, each issue includes timely articles authored by industry specialists and regular features, which are ... read more

  • Glass Door