American International Group, Inc. announced the formation and launch of AIG Commercial Equipment Finance, Inc. (AIG CEF), a new equipment finance and leasing company headquartered in Plano, Texas.
“AIG CEF, a member company of American International Group, Inc., will provide equipment lending and leasing services to mid-size and large commercial enterprises throughout the United States, Canada and other selected international markets,” said the announcement.
“William G. Farrell, Jr. and David B. Fate will serve as President and Executive Vice President of AIG CEF, respectively. Both executives come to AIG CEF from Transamerica Equipment Financial Services, where Mr. Farrell served as President, overseeing all business segments, and Mr. Fate served as Executive Vice President in charge of all intermediary business ventures,” the bulletin continued.
“Bill and Dave bring extensive experience and credibility to AIG’s entry into this business segment,” commented William N. Dooley, Sr. VP-financial services. “Leveraging the scale, scope and financial strength of AIG with the expertise of our new management team will allow AIG CEF to grow a successful business.”
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