TROY, Mich., (April 15, 2021) — Crestmark is pleased to announce that Rick Pierman has been named senior vice president, business unit president of the Crestmark Equipment Finance (CEF) business unit. Based in Troy, Pierman will report to division president, Christopher Soupal.
Pierman previously held the role of senior vice president, strategic operations with CEF. In this new role, he is responsible for overseeing CEF’s equipment finance portfolio, succeeding Tom Rutherford, who remains with the company in support of division special projects.
“Rick’s significant experience in equipment finance, as well as his understanding of the foundations of Crestmark’s success, uniquely position him to guide and grow the business unit,” said Soupal. “We look forward to his leadership in a time of great opportunity within the industry.”
Pierman originally joined Crestmark in 2014 with the company’s acquisition of TIP Capital, where he was vice president, asset management. In his 15-year tenure with TIP Capital and Crestmark, he held a variety of roles including director of asset management, remarketing manager, and accounting and project manager. Previously, he worked with CIT and AT&T Capital. Pierman left Crestmark in 2016 to serve as senior vice president, managing director of asset management for Woodforest National Bank’s equipment finance division, before returning to CEF in 2019.
“I am excited to continue the growth of equipment finance solutions to businesses nationwide. I take on the role with the recognition that these are big shoes to fill. Tom Rutherford, my respected colleague and mentor has decided to focus on special projects, and we are glad he will remain an essential resource for myself, our clients and the company,” said Pierman. “I enjoy working with this amazing group of people as we continue to extend beneficial equipment finance solutions to companies that are at the heart of American economy.”
Pierman earned a bachelor’s degree in accounting from Michigan State University. He is a past chairperson of the Equipment Lease and Finance Association’s Equipment Management Committee.