The Commercial Finance Association (CFA) announced the appointment of Michael Maiorino as President of the Association. Maiorino was selected by the CFA Board of Directors to succeed NewStar's Michael Haddad, who became CFA Chairman.

"Mike's experience and respect in our industry will be a tremendous value to CFA," said Robert Trojan, CFA's CEO. "Mike is a great leader and will help CFA effectively communicate the important role of asset-based lenders and factors in providing the essential working and growth capital to help get America working again,"

"Education, advocacy and networking opportunities are the top three in my mind in terms of the purpose of the CFA," said Maiorino. "If we can continue to be successful in those three areas, I know we've done a tremendous job."

"Continuing to make the CFA as accessible and inclusive as possible will be a key priority, especially for the younger professionals in our industry," said Maiorino. "It is critical to our success that younger professionals feel comfortable that they can get to know me and other senior leaders."

Maiorino is President of People's United Business Capital and has been involved in all aspects of commercial banking over a span of over 30 years in banking. Prior to joining People's United, Mike was EVP and Director of C&I Risk Management & Recoveries at Sovereign/Santander.

Founded in 1944, the Commercial Finance Association is the trade group of the asset-based lending and factoring industries, with nearly 300 member organizations throughout the U.S., Canada and around the world.