Marine-Finance.Com announced that Joe Pitch has signed on as Managing Director for Marine-Finance.Com LLC. Pitch joins former CitiCapital Commercial Marine Finance colleague Robert Girard, SVP, who, along with CEO Richard Paine, constituted the core of the CitiBank- affiliated marine group.
Pitch is a 30-year veteran of the equipment leasing/finance industry he has financed more than $1b in equipment. Based in Dallas, Texas, Pitch is a graduate of Seton Hall University with a Bachelor of Business Administration with a concentration in Finance. He is a past member of the American Waterway Operators (AWO), the Offshore Marine Services Association (OMSA) and an affiliate member of the Passenger Vessel Association (PVA).
Pitch began his career with as a finance representative for Allis Chalmers Credit, a captive finance group. He quickly expanded into non-captive markets with Citicorp Industrial Credit where he was responsible for direct originations in construction, energy services and the general equipment marketplaces. Joining Manufacturers Hanover Leasing Corporation (later folded into The CIT Group) in 1984 as senior representative for corporate accounts in North Texas and Oklahoma, Pitch was promoted to Vice President and Branch Manager in 1987. In 1996, Pitch was again promoted to VP/Western Area Sales Manager with responsibility for 11 direct sales people in key markets such as Dallas, Chicago, Minneapolis, San Francisco and LA. In May of 1997, Pitch was recruited by The Associates Commercial Corporation to start a national capital markets/middle market direct equipment finance/leasing operation. This group became the Associates Commercial Marine Group, and with the acquisition of Associates by Citigroup, the business was renamed CitiCapital Commercial Marine Group (CMG). CMG grew organically through new originations and via portfolio acquisition into a $250m asset company generating over $100m annually in commercial marine volume. CMG specialized in the Inland marine, offshore supply and crew, harbor tug, excursion and the dinner cruise markets offering construction and permanent financing to end users. The marine group and its portfolio were acquired late in 2006 by GE Capital and Pitch, with certain members of the marine team, accepted new positions at GE. In February of 2007 Pitch was named Vice President and Regional Sales Manager for North Texas maintaining involvement in GE Capital’s marine business. Pitch continued funding of committed transactions and originating new marine business in Texas and Louisiana in addition to other responsibilities in the general equipment markets.