cloudy.png
Thursday November 14th, 2019 3:04PM

Synovus Launches New Specialty Finance Division and Structured Finance Team

By The Associated Press

COLUMBUS, Ga.--(BUSINESS WIRE)--Sep 9, 2019--

Synovus Bank announced the launch of a new Specialty Finance Division, focused on providing debt capital financing and commercial banking solutions to fund companies operating in niche asset classes. The division includes the addition of a structured finance team and builds on the expertise of Global One Financial, the insurance premium finance lender acquired by Synovus in October of 2016. The division will be led by Jonathan Rosen, who founded Global One in 2003 and continues to manage it as chief executive officer of the Specialty Finance Division at Synovus. Since its acquisition by Synovus, Global One has grown its loan balances from $350 million to more than $900 million, while maintaining its long history of outstanding credit, with no credit losses.

“This new specialty finance team focused on structured lending is a great addition for Synovus at the current stage of the economic cycle,” said Kevin Blair, chief operating officer of Synovus. “The new team allows us to grow prudently by lending to companies with high-quality underlying assets, while mitigating risk through financial structures and adding value to transactions. It also leverages the industry relationships, structured lending capabilities, and culture of innovation built by Jonathan and the Global One team, who have been a significant source of growth and enhanced profitability for us.”

The Synovus structured lending team offers senior secured loans targeting companies that require a consultative approach to transaction structure in unique asset classes or situations.

A group of industry veterans have joined the firm to spearhead this new effort:

Carvo and Mazo are based at the Specialty Finance offices in Atlanta and Krishnan and Patel are based in the New York office.

“I’ve known this team of professionals for years and they are among the most talented people in structured finance,” said Rosen. “We are well positioned to create meaningful positive impact for clients in both good times and bad, while mitigating risk through asset focus, value-added intellectual capital, and specialized structuring capabilities.”

The Specialty Finance Division is a business unit of the newly defined Wholesale Bank line of business for Synovus and represents an additional investment to deliver continued organic growth while enhancing overall returns.

, a Georgia-chartered, FDIC-insured bank, provides commercial and retail banking, investment, and mortgage services together with its affiliates through 297 branches in Georgia, Alabama, South Carolina, Florida, and Tennessee. Synovus Bank has been recognized as one of the country’s “Most Reputable Banks” by and the Reputation Institute. Synovus Bank is on the web at , and on , , , and . Equal Housing Lender.

View source version on businesswire.com:

CONTACT: Lee Underwood

Media Relations

(706) 644-0528

KEYWORD: UNITED STATES NORTH AMERICA GEORGIA

INDUSTRY KEYWORD: BANKING PROFESSIONAL SERVICES FINANCE

SOURCE: Synovus Financial Corp.

Copyright Business Wire 2019.

PUB: 09/09/2019 08:00 AM/DISC: 09/09/2019 08:01 AM

http://www.businesswire.com/news/home/20190909005085/en

  • Associated Categories: Associated Press (AP), AP Business, AP Business - Corporate News, AP Online - Georgia News, AP Business Wire - Georgia, AP Business - Industries, AP Business - Financial Services
© Copyright 2019 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Hong Kong tells US to stay out; students form protest chains
Thousands of students formed human chains in schools across Hong Kong to show solidarity after violent weekend clashes to push for democratic reforms. The government told the U.S. to stay out of its affairs.
7:55AM ( 8 minutes ago )
The MVP exits: Giannis, Greece fail to advance at World Cup
A disappointing World Cup end for Giannis Antetokounmpo, as Greece wins _ but fails to reach quarterfinals
7:54AM ( 9 minutes ago )
The Latest: Johnson, Varadkar say meeting 'constructive'
There have been no breakthroughs at the meeting between British and Irish leaders on the Brexit impasse
7:43AM ( 20 minutes ago )
Associated Press (AP)
UK's Johnson tells Irish leader Brexit deal can be reached
British Prime Minister Boris Johnson is to meet with Irish leader Leo Varadkar in search of a compromise on the simmering Brexit crisis.
6:50AM ( 1 hour ago )
The Latest: Boris Johnson to suspend Parliament til Oct. 14
Prime Minister Boris Johnson's government has confirmed it will suspend Parliament later Monday until Oct. 14.
6:40AM ( 1 hour ago )
Pope honors Mauritius diversity, urges ethical development
Pope Francis has arrived in the Indian Ocean nation of Mauritius to celebrate its diversity, encourage a more ethical development and honor a 19th century French missionary who ministered to freed slaves
6:31AM ( 1 hour ago )
AP Business
Nissan board to meet; chief faces renewed pressure to resign
Nissan Chief Executive Hiroto Saikawa has acknowledged he is working to pass over the helm at the Japanese automaker to the next generation, indicating he was ready to step down
2:19AM ( 5 hours ago )
States expected to target Google in new antitrust probe
A group of states led by Texas are expected to announce an investigation into Google on Monday to examine whether the Silicon Valley tech giant has gotten too big and anti-competitive
2:17AM ( 5 hours ago )
Defamation suit over Haiti sex abuse claim settled
A Maine activist who accused an orphanage founder in Haiti of being a serial pedophile says a lawsuit against him has been settled
3:07PM ( 16 hours ago )
AP Business - Corporate News
Scherzer, Nats win 9-4, stop Braves' 9-game winning streak
Max Scherzer won for the first time in two months, Juan Soto homered and the Washington Nationals beat the Atlanta Braves 9-4 to stop the NL East leaders' nine-game winning streak, their longest in five years
3:02AM ( 5 hours ago )
After big contract for Jones, rough opener for Falcons
After finalizing contract extension for Julio Jones, rough season opener follows for Falcons
7:07PM ( 12 hours ago )
Vikings trample Falcons 28-12 behind fierce defense, Cook
Vikings trample Falcons 28-12 in opener behind fierce defense and running by Cook
6:14PM ( 13 hours ago )
AP Online - Georgia News
AP Business Wire - Georgia
Marchers ask Trump to 'liberate' Hong Kong, as clashes erupt
Thousands of demonstrators in Hong Kong urge President Donald Trump to "liberate" the semiautonomous Chinese territory during a peaceful march to the U.S. Consulate, but violence erupted later in the business and retail district.
12:07PM ( 19 hours ago )
Iran uses advanced centrifuges, threatens higher enrichment
Iran begins injecting uranium gas into advanced centrifuges in violation of its 2015 nuclear deal with world powers
3:09PM ( 1 day ago )
Iran now using advanced centrifuges, violating nuclear deal
Iran has begun injecting uranium gas into advanced centrifuges in violation of its 2015 nuclear deal with world powers
8:24AM ( 1 day ago )
AP Business - Industries
Modest hiring enough to fuel sluggish but durable US economy
Slow but steady hiring should sustain US growth, but Powell Fed stands ready to step in
5:08PM ( 2 days ago )
Ex-drug company CEO Martin Shkreli sues former investor
The former drug company executive known as Pharma Bro has sued the son of one of his investors over losses from a failed hedge fund
5:02PM ( 2 days ago )
Stock climb, keeping S&P 500 on track for a 2nd weekly gain
Stocks moved higher on Wall Street in afternoon trading Friday, placing the market on track to notch a second straight weekly gain after a wobbly start to the week
3:44PM ( 2 days ago )
AP Business - Financial Services
The MVP exits: Giannis, Greece fail to advance at World Cup
A disappointing World Cup end for Giannis Antetokounmpo, as Greece wins _ but fails to reach quarterfinals
7:54AM ( 10 minutes ago )
The Latest: Johnson, Varadkar say meeting 'constructive'
There have been no breakthroughs at the meeting between British and Irish leaders on the Brexit impasse
7:43AM ( 21 minutes ago )
The Latest: Mattis says trust is question in Taliban talks
Former Defense Secretary James Mattis says that when it comes to trying to negotiate an Afghanistan peace deal with the Taliban, the key question is whether they can be trusted
7:32AM ( 32 minutes ago )
British Airways grounds nearly all flights as pilots strike
British Airways says it has had to cancel almost all its flights on Monday and Tuesday, affecting as many as 195,000 travelers, due to a strike by pilots over pay
7:32AM ( 32 minutes ago )
UN atomic watchdog confirms Iran installing new centrifuges
The United Nations' atomic watchdog is confirming Iran is moving ahead with preparations to start using more advanced centrifuges, in breach of limitations set in the unraveling 2015 nuclear deal with major powers
7:15AM ( 49 minutes ago )