Bank Leumi announced that it has hired John DePledge to head its New York-based Asset-Based Lending (ABL) business. In this role, DePledge will manage the continued expansion and growth of the bank’s ABL practice, launched by Leumi in 2018.

Over his 30-year career in corporate finance, DePledge has successfully developed and grown asset-based lending practices at major North American banks through various economic and market cycles. He most recently served as Business Head and National Sales Manager for Citibank’s Asset-Based Lending Unit, where he led product development and closed over $2.5 billion in new business.

“John has built an impressive track record of establishing and building successful asset-based lending practices over his three-decade career,” said Shawn McGowen, Leumi’s Chief Banking Officer. “His experience and strong relationships in the middle-market lending space are valuable strengths as we grow our asset-based lending business.”

Prior to Citibank, DePledge was Head of Business Development at TD Bank, where he established the company’s Mid-Atlantic ABL lending capability. He has also worked in various capacities for LaSalle Business Credit, People’s United Bank, Citytrust Bank and Associates Commercial Corporation.

DePledge is the President of the Secured Finance Network (SFN), formerly known as the Commercial Finance Association, and serves on the Board of Directors of the Secured Finance Foundation. Previously, he served on the Board of Directors for the Philadelphia chapter of Turnaround Management Association and is a past president of SFN’s Philadelphia chapter. He earned a Master of Business Administration in Finance from Sacred Heart University and a Bachelor of Science in Accounting from Franklin Pierce University.

Leumi’s Commercial Banking division specializes in serving select industries, products and asset types in the U.S. middle-market, including healthcare, technology, apparel and real estate. Its bankers focus on market areas with the greatest growth potential and work closely with a diverse roster of clients in each sector to develop custom solutions that best support their business needs. It provides asset-based loans from $5,000,000 to $30,000,000 for working capital, refinancing, acquisitions, mergers, turnarounds and growth.