MUFG Boosts Asset-Based Finance Business in the Americas By Hiring Edward Gately To Lead Group
February 28 2017 - 9:00AM
Business Wire
ABF Specializes in Formula-Driven Revolving
Lines of Credit, Term Loans Based on Assets Including Accounts
Receivable, Inventory, Equipment, Owner-Occupied Real
Estate
Mitsubishi UFJ Financial Group, Inc. (MUFG), one of the world’s
leading financial institutions, today announced it has taken a
significant step in enhancing its Asset-Based Finance (ABF)
business in the Americas by hiring Edward Gately as a
Managing Director to lead the group.
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Edward Gately (Photo: Business Wire)
MUFG’s ABF franchise specializes in formula-driven revolving
lines of credit, and term loans based on eligible assets including
accounts receivable, inventory, equipment, and owner-occupied real
estate. A unit of MUFG’s Investment Banking group, ABF provides
flexibility for rapid growth, acquisitions, and turnarounds for
commercial and corporate clients.
Mr. Gately will report to Jon Lindenberg, MUFG’s Deputy
Head of Investment Banking for the Americas.
“Adding Ed to MUFG’s investment banking team will provide a
tremendous boost to our asset-based finance business, while
enhancing our relationships across the bank’s broad client base,”
Mr. Lindenberg said. “Ed brings the right blend of skills,
experience, and passion that are necessary to effectively lead this
critical product area.”
Mr. Gately joins MUFG after 12 years at HSBC Bank USA, where he
was head of the Asset-Based Lending business. While at HSBC, Mr.
Gately was responsible for a national specialty lending business
with $8 billion in commitments, and $90 million in annual U.S.
revenues.
Before HSBC, Mr. Gately spent nearly 20 years with Bank of
America and one of its legacy institutions, Fleet Bank. In his most
recent position at Bank of America, he managed a specialty lending
unit with more than 50 employees, $2 billion in commitments, and
over $30 million in annual U.S. revenues.
Mr. Gately holds a B.S. degree in accounting and finance from
Providence College.
About MUFG Americas Holdings Corporation
Headquartered in New York, MUFG Americas Holdings Corporation is
a financial holding company and bank holding company with total
assets of $148.1 billion at December 31, 2016. Its main
subsidiaries are MUFG Union Bank, N.A. and MUFG Securities Americas
Inc. MUFG Union Bank, N.A. provides an array of financial services
to individuals, small businesses, middle-market companies, and
major corporations. As of December 31, 2016, MUFG Union Bank, N.A.
operated 365 branches, comprised primarily of retail banking
branches in the West Coast states, along with commercial branches
in Texas, Illinois, New York and Georgia, as well as two
international offices. MUFG Securities Americas Inc. is a
registered securities broker-dealer which engages in capital
markets origination transactions, private placements,
collateralized financings, securities borrowing and lending
transactions, and domestic and foreign debt and equities securities
transactions. MUFG Americas Holdings Corporation is owned by The
Bank of Tokyo-Mitsubishi UFJ, Ltd. and Mitsubishi UFJ Financial
Group, Inc., one of the world’s leading financial groups. The Bank
of Tokyo-Mitsubishi UFJ, Ltd. is a wholly-owned subsidiary of
Mitsubishi UFJ Financial Group, Inc. Visit www.unionbank.com or
www.mufgamericas.com for more information.
About MUFG (Mitsubishi UFJ Financial Group, Inc.)
MUFG (Mitsubishi UFJ Financial Group, Inc.) is one of the
world's leading financial groups, with total assets of
approximately $2.6 trillion (USD) as of December 31, 2016.
Headquartered in Tokyo and with approximately 350 years of history,
MUFG is a global network with more than 2,200 offices in nearly 50
countries. The Group has more than 140,000 employees and about 300
entities, offering services including commercial banking, trust
banking, securities, credit cards, consumer finance, asset
management, and leasing. The Group's operating companies include
Bank of Tokyo-Mitsubishi UFJ, Mitsubishi UFJ Trust and Banking
Corporation (Japan's leading trust bank), and Mitsubishi UFJ
Securities Holdings Co., Ltd., one of Japan's largest securities
firms. Through close partnerships among our operating companies,
the Group aims to "be the world's most trusted financial group,"
flexibly responding to all of the financial needs of our customers,
serving society, and fostering shared and sustainable growth for a
better world. MUFG's shares trade on the Tokyo, Nagoya, and New
York (MTU) stock exchanges. Visit
www.mufg.jp/english/index.html.
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version on businesswire.com: http://www.businesswire.com/news/home/20170228005410/en/
Mitsubishi UFJ Financial Group, Inc.Rich Silverman,
+1-212-782-5953rsilverman@us.mufg.jp
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