Nashville-based Pinnacle Financial Partners is building a new team focused on equipment finance.
The group will lead by Kris Foster, who is based locally. Most recently, Foster was a regional sales manager for Wells Fargo Equipment Finance in Kentucky. He previously worked in equipment finance roles at CIT, Fifth Third and PNC.
Joining Foster will be Greg Pinchback and Jason Fronheiser, both financial advisers based in Texas.
Foster said the team will help companies seeking to finance all kinds of equipment, though an emphasis is expected in trucking, construction, manufacturing, health care and technology. Pinnacle previously worked on leasing and finance for equipment though on a limited basis, according to a release.
Pinnacle was founded in Nashville in 2000 and as of June 30 had more than $35 billion in assets.
“Since Day One, we’ve strived to offer everything a client could need from a financial services firm,” Pinnacle Chairman Rob McCabe said in the release. “As our reach and resources grow, our capabilities need to include complex and specialized services like equipment finance. This specialty lending unit has the potential to grow very quickly into a significant part of our overall assets. It also allows us to meet a common need for our clients with in-house specialists who are knowledgeable of their industries, the equipment and how to make a deal work.”