TROY, Mich., (Aug. 22, 2019) — Crestmark is pleased to announce the return and appointment of Rick Pierman as senior vice president, strategic operations to its equipment finance division. Based in Troy, he will report to Crestmark Equipment Finance Chief Operating Officer and General Counsel Jim Recker.
“We are glad to welcome Rick back to Crestmark,” said Jim Recker, Crestmark Equipment Finance chief operating officer and general counsel. “His extensive industry expertise and leadership will be essential as we further leverage our talent and grow our equipment financing offerings. We look forward to his contributions.”
Pierman returns to Crestmark with over 20 years of leasing and finance industry experience. Most recently, he served as senior vice president, managing director of asset management for Woodforest National Bank’s equipment finance division. There, he was responsible for the development of a start-up equipment finance platform, which grew to $170 million portfolio before being acquired by Sterling National Bank in March 2019. Responsibilities included developing policies and procedures for collateral valuations, the tax lease program, division pricing and structure, residual setting, portfolio management, and developing equipment markets.
Pierman originally joined Crestmark in 2014 with the company’s acquisition of TIP Capital, where he served as vice president, asset management; his 15-year tenure with the company included roles as director of asset management, remarketing manager, and accounting and project manager. He also held a senior lease accountant position at CIT, formerly Newcourt and AT&T Capital. Pierman earned a bachelor’s degree in accounting from Michigan State University. He is chairperson of the Equipment Lease and Finance Association’s Equipment Management Committee.