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Key Equipment Finance Strengthens Commercial Vendor Team with Strategic Hire and Promotions

Posted 02/28/2018

SUPERIOR, CO. – February 28, 2018 – Key Equipment Finance, one of the nation’s largest bank-held equipment finance companies and an affiliate of KeyCorp (NYSE: KEY), today announced the addition of one new member to the company’s commercial vendor finance team and the promotion of two. The growth and strategic positioning of the Key Equipment Finance team will help vendor partners increase efficiencies and enhance overall profitability by incorporating a solution-based approach to equipment financing.

David Lempko has been promoted to senior vice president, strategic growth accounts for the technology segment. Lempko was named senior vice president and middle market sales director at Key Equipment Finance in 2017, shortly after KeyCorp acquired First Niagara, where he served as president of the equipment finance division. In his new role, Lempko will lead origination of new business and relationship management for strategic programs with significant growth potential in Key Equipment Finance’s technology finance segment.

Shawn Arnone has also been promoted to senior vice president, major accounts for the technology segment. Having previously served as vice president, wholesale sales leader for the technology team, Arnone was responsible for overseeing all department activities with established vendor programs. In his new position, he will lead the origination of new business and relationship management for programs with major technology providers.


Doug Nielsen has joined Key Equipment Finance as senior vice president of business development for the company’s vendor finance team. In this role, Nielsen will be responsible for leading vendor business development and program management, which includes setting strategic direction and managing five business development sales executives for both Key Equipment Finance and Key Government Finance. Nielsen has 30 years of experience in senior management, business development and sales within the equipment finance industry.


“Vendor finance is a critical component of Key Equipment Finance’s overall business strategy, and we have been methodical in selecting a team that can most effectively deliver our products and solutions to current and prospective clients in this market,” said Loren Hill, senior vice president, commercial vendor, Key Equipment Finance. “All three individuals have demonstrated extreme success in a variety of financial services positions, and we have developed an entire business strategy around enhancing the value we bring to our clients.”


Key Equipment Finance is focused on meeting the requirements of both established and emerging vendors, and in supporting their clients whether they are commercial or government entities. By further defining its vendor finance business units, the company will be better equipped to provide specific solutions for vendor partners to operate more efficiently and profitably, while enhancing the customer experience.


“We want to have the ability to develop a customized approach based on the short-and long-term goals of each vendor partner,” said Hill. “We are committed to providing forward-thinking financing solutions to help meet the changing needs of our clients. I’m excited to have the right team in place to deliver our portfolio of financing solutions that are now more focused than ever before.”


Key Equipment Finance offers equipment financing and business leasing solutions to a range of business types and industries. Learn more at


About Key Equipment Finance

Key Equipment Finance has been in the equipment finance business for 44 years and is one of the largest bank-based equipment finance providers in the U.S. The company provides tailored equipment lease and finance solutions for commercial clients and government entities. Through its manufacturer and vendor alliances unit, equipment finance programs are developed for manufacturers, distributors and resellers.

Key Equipment Finance’s specialty finance group includes a specialty finance lending team, which provides structured facilities to various sectors of the specialty finance market, and a lease capital markets team to support corporations looking to optimize risk and revenue. Headquartered outside Denver, Colorado, Key Equipment Finance manages nearly $13 billion in assets and originates nearly $6 billion of equipment financing annually. For more information, visit

About KeyCorp

KeyCorp's roots trace back 190 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $137.7 billion at December 31, 2017. Key provides deposit, lending, cash management, insurance, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,200 branches and more than 1,500 ATMs.  Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications, and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit KeyBank is Member FDIC.



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