Joe Pitch Joins Marine-Finance.Com

Monday, August 24, 2009

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.

(www.Marine-Finance.Com)


People & Company News

MN100: Klüber Lubrication NA LP

The Company: Klüber Lubrication is one of the world’s leading manufacturers of specialty lubricants, offering high-end tribological solutions to virtually all industries and markets worldwide.

Grand Bahama Shipyard Adds Four Executives

Grand Bahama Shipyard Limited (GBSL), a Caribbean shipyard providing retrofit, refurbishment and revitalization to cruise and commercial vessels, has added four

MN100: Voith Turbo

The Company: Voith Turbo specializes in the design, manufacture and servicing of high performance driveline equipment. From drive components to electronic drive systems,

Finance

Singapore's SembMarine to Take Full Control of PPL Shipyard

Singaporean rig builder Sembcorp Marine Ltd said it had agreed to buy the 15 percent of PPL Shipyard Pte Ltd it did not already own for about $115 million from

Pressure Mounting on VLGCs Rates - Drewry

A wave of cargo cancellations from the US is putting additional pressure on VLGC rates, according to the latest edition of the LPG Forecaster, published by global shipping consultancy Drewry.

Investors to Acquire $1.5 bln Shipping Portfolio from NORD/LB

NORD/LB Norddeutsche Landesbank and KKR Credit have reached an agreement by which, subject to completion of certain conditions precedents, KKR Credit, together

 
 
Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1128 sec (9 req/sec)