U.S. Bank hired two bankers with deep asset-based lending experience for its growing asset-based finance business. The hires are part of a strategy for the broader U.S. Bank Commercial Banking team to continue its expansion in Texas and across the country to better serve middle market clients.

Daniel Stampfel has joined the U.S. Bank Asset Based Finance division as a senior vice president. Based in Dallas, Stampfel will lead efforts to provide asset-based credit solutions for businesses across Texas. Stampfel was most recently with JPMorgan Chase, where he served as an executive director and led a national asset-based lending credit team. Stampfel also was a senior vice president at PNC, where he was responsible for underwriting commercial ABL transactions. Stampfel has more than 20 years of ABL experience. He is also a board member for the Fine Arts Chamber Players in Dallas.

Mitch Rubin has also joined the U.S. Bank Asset Bank Finance division as a senior vice president. Based in New York City, Rubin will lead our efforts to provide asset-based credit solutions for businesses across the Northeast. Rubin was most recently with PNC Business Credit, where he served as a vice president, responsible for ABL originations and portfolio management, focused on private equity and middle market clients. Prior to PNC, Rubin worked as a ABL relationship manager for Wells Fargo Capital Finance.

“Daniel and Mitch both have the asset-based lending experience and expertise to deliver immediate value for our clients in Texas and the Northeast,” said Samuel Philbrick, head of U.S. Bank Asset Based Finance. “We had a record year for asset-based lending in 2021. These two strategic hires will help us continue our momentum and deliver innovative asset-based financing solutions to more businesses.”

The U.S. Bank Asset Based Finance division is a specialized lending unit supporting companies that maintain high levels of quality working capital assets, including large retailers, manufacturers, and distributors. Asset-based credit solutions provided by U.S. Bank include working capital loans to support growth; acquisition financings and leveraged buyouts; and debt restructurings and recapitalizations. The division had record volume in 2021.