CHICAGO (PRWEB) October 03, 2016
Today, MB Financial Bank announces the formation of a new Canadian subsidiary, MB Business Capital Canada Inc. and the hiring of Dan Flaro, Senior Vice President & Country Executive to lead its efforts in expanding the bank's middle-market asset based lending (ABL) platform into Canada.
A seasoned industry professional, Flaro brings extensive experience in business development, underwriting and portfolio management to MB Business Capital Canada. Prior to joining the new subsidiary, Flaro served as Vice President & Group Head of Scotiabank’s ABL platform, and he held positions at TD Asset Finance and LaSalle Business Credit/ABN AMRO. His ABL expertise is complemented by a broad range of mid market lending experience derived from roles with institutional lenders providing traditional commercial revolving facilities, equipment lease, and industrial real estate and subordinated debt financing. Flaro is also actively involved in Canada’s broader finance community, having served as a member of the Commercial Finance Association leadership board as well as a Chartered Financial Analyst (CFA). Flaro is a graduate of the Queen's University in Kingston, Ontario Bachelor of Commerce (Honours) program.
"Our senior management team has prior experience lending in Canada and we're all very excited to be back in the Canadian market,” says Michael Sharkey, President of MB Business Capital. “We’ve built an exceptional ABL platform at MB Financial Bank with proven success in securing market share in the U.S. Dan's background is best suited to communicate our value proposition in Canada; we're thrilled to have him lead our efforts in this new market.”
The new MB Business Capital Ontario office and contact information:
Dan Flaro, CFA
SVP, Country Executive
MB Business Capital Canada Inc.
1155 North Service Road West, #11
Oakville, Ontario L6M 3E3
About MB Business Capital
MB Business Capital is the asset based lending division of MB Financial Bank, a commercial bank headquartered in Chicago, Illinois. MB Business Capital seeks asset based lending opportunities in the $5 million to $50 million range and is offering dedicated syndication opportunities of up to $100 million. The firm can also provide access to the full range of business banking products and services offered by MB Financial Bank. MB Business Capital Canada Inc. is a subsidiary of MB Financial Bank, NA.
About MB Financial, Inc. (NASDAQ: MBFI)
MB Financial Inc. is the Chicago-based holding company for MB Financial Bank, which has approximately $19 billion in assets and a more than one hundred year history of building deep and lasting relationships with middle-market companies and individuals. MB offers a full range of powerful financial solutions and the expertise and experience of bankers who are focused on their clients’ success. Learn more about MB Financial, Inc. at http://www.mbfinancial.com.