New York, NY (PRWEB) October 07, 2015
On October 1, the Commercial Finance Association (CFA) announced its new Executive and Management Committees for 2016. The Committees, comprised of key leaders in the commercial finance industry, will guide the Association, make policy decisions, confirm new members and provide advocacy, education and thought leadership for the industry.
David Grende, president and CEO of Siena Lending Group, will serve as CFA Vice President. Mr. Grende has served on several CFA committees and is a former chair of CFA’s Finance Committee. He has been a member of its Executive Committee for six years.
“It is an honor to serve in this capacity on the CFA Management Committee. Throughout my career, being involved in CFA has helped me to deeply broaden my skills and to develop long-lasting relationships. CFA is a community I am proud to be part of and give back to,” Mr. Grende said.
Mr. Grende is a specialized lending executive with more than 30 years’ experience building and running asset- based lending businesses, executing debt restructurings, taking on interim management roles, and completion of complex asset workouts and recoveries
He is currently president & CEO of Siena Lending Group, an independent specialty finance company, headquartered in Stamford, CT. Siena provides asset based loans in the $1-$25MM range serving the lower middle market of borrowers. Siena transacts for its own balance sheet as well as providing a servicing platform and syndication conduit for its community banking partners desirous of diversifying their portfolios into C&I.
Prior to Siena, Mr. Grende was Chief Executive Officer of Burdale Capital Finance (BCF) a wholly owned asset- based lending subsidiary of the Bank of Ireland which provided transatlantic financing solutions to a $1.7B portfolio of clients. In 2006, he was hired to start BCF as a de novo ABL US business and built the business into a widely recognized brand. BCF was sold to Wells Fargo in 2012 as part of deleveraging of banks required by the IMF bailout of Ireland in 2010.
Before starting Burdale, he was a Managing Director in the Corporate Advisory Services practice at Huron Consulting Group where he led a Huron team in successfully launching Delta Air Lines, Inc. into a seamless bankruptcy proceeding, and also managed restructuring teams at ATA Airlines and Air Jamaica. Mr. Grende also served in an interim management role, for Comdisco Ventures. He successfully managed the runoff of a $1.5Billion lease, subordinated loan and private equity venture capital portfolio where his team exceeded the business plan he created, from both return and timeline perspectives.
Mr. Grende earned a Bachelor of Science, Economics, from City College of New York and became a Certified Insolvency & Restructuring Advisor (CIRA) in 2004.
“The CFA wouldn’t be where it is today without all the hard work, dedication and insight of our Executive and Management Committees. Looking to the future, we are able to continually take CFA to the next level because of the commitment and engagement of our leaders and members,” stated Bob Trojan, CFA’s Chief Executive Officer.
Founded in 1944, the Commercial Finance Association is the international trade group of the asset-based lending, factoring and supply chain finance industries, with nearly 300 member organizations throughout the U.S., Canada and around the world. CFA provides education, networking opportunities and industry advocacy on a domestic and international basis to the commercial finance community.