The Commercial Finance Association (CFA), the international trade group of the asset-based lending, factoring and supply chain finance industries, has announced that Richard D. Gumbrecht has been appointed CEO. Gumbrecht had been serving as interim CEO since January.
Gumbrecht was most recently the Chief Growth Officer at EverBank Commercial Finance (2010-2016). He has served as the Immediate Past Chairman of the Equipment Leasing and Finance Foundation (ELFF) Board of Trustees since 2015 and held the position of Chairman from 2013-2015. He is a 25-year veteran of the commercial finance industry, having led diversified lending platforms at GE Capital and co-founded a successful equipment finance company.
“Rich was selected to be the CEO of the Commercial Finance Association after the most thorough and systematic process ever conducted by stakeholders of the Association. The Management Committee is very impressed and thankful for the efforts of the Search Committee, comprised of Peter York, who led the effort, Jeff Walsh, representing the CFA staff, David Kurzweil, representing the CFA Education Foundation and at large members, Michael Monk and Betty Hernandez. Rich’s experience within the asset-based lending industry, his long-term membership and role as an officer of the Equipment Leasing and Finance Association and his excellent financial management skills make him an outstanding choice for the position. The Management Committee of the CFA strongly supports Rich and believes that the Association will thrive under Rich’s management,” said Andrea Petro, 2017 CFA president, and executive vice president, Wells Fargo Capital Finance.
Said Gumbrecht, “I am thrilled to be part of this vibrant and invaluable community of lenders and service providers who do the important work of fueling our engines of commerce. I look forward to partnering with our members, staff and volunteers to help enable their success and deliver on our mission of ‘bringing together the resources that make capital work’.”
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.