Synovus announced the launch of a new restaurant finance team focused on helping restaurants across the country execute strategic plans for growth while fostering relationships with established and up-and-coming names in the sector.
Residing in Synovus’ wholesale banking division and based in Atlanta, the restaurant finance team offers a wide array of services and solutions tailored to the foodservice industry. Services include acquisition financing, senior credit facilities (term loans, development loans and revolving lines of credit), property company financing, loan syndications, derivatives hedging, treasury management, foreign exchange and institutional trust expertise. The team consists of restaurant industry and banking veterans Scott Tocci, Kelly Nyquist and Jay Sim.
“Restaurants are a major source of economic growth and development throughout Synovus’ five-state footprint and the country,” said Kevin Howard, Synovus Executive Vice President and Chief Wholesale Banking Officer. “Our new restaurant finance team combines the resources of a large financial institution with industry expertise, a deep understanding of market conditions, the knowledge of restaurant equity and debt investor needs, and the flexibility to work with middle-market to large-market clients. We are confident this team will be an important source of value creation for Synovus and the growing number of restaurant industry businesses and clients. We couldn’t be more excited to welcome Scott, Kelly and Jay to Synovus."
Tocci, Senior Director of the restaurant finance team, is an experienced banking professional with more than 25 years in the restaurant financing sector. Prior to joining Synovus, he spent more than eight years as managing director of the restaurant banking division at Regions Bank and 11 years as managing director at GE Franchise Finance.
Nyquist, named Senior Manager Of Wholesale Credit Risk Management, has more than 15 years of banking experience and also joined Synovus from Regions Bank where he worked alongside Tocci on the specialized restaurant banking team. Prior to Regions, he was part of Bank of America's franchise finance team and worked at CompuCredit as a Securitization-Financial Analyst. Nyquist earned his undergraduate degree from Dickinson College and his MBA from Mercer University.
Sim, Senior Wholesale Credit Manager, is a more than 20-year banking veteran with extensive experience in restaurant credit analysis and underwriting. Prior to joining Synovus, he spent more than 10 years at Regions Bank and worked with Tocci and Kelly on the specialized restaurant banking team. Preceding Regions, Sim worked at Bank of America in restaurant finance credit, underwriting and analysis. Sim is a graduate of Emory University.
Synovus Bank, a Georgia-chartered, FDIC-insured bank, provides commercial and retail banking and a full suite of specialized products and services, including private banking, treasury management, wealth management, mortgage services, premium finance, asset-based lending, structured lending, and international banking through 281 branches in Georgia, Alabama, South Carolina, Florida, and Tennessee.