Dennis Neumann, Leasing Pioneer

Bob Rinaldi interviewed leasing pioneer, Dennis Neumann, currently the CEO of BNY Capital Funding LLC. The Skype interview was captured on video Jan. 8, 2011. Bob and Dennis had first met years ago through their involvement with the Equipment Leasing and Finance Association and their roles on its board of directors.

Mr. Neumann entered what is known in the equipment leasing industry as the large-ticket sector through a company called North American Car (NAC) Leasing in 1978. He came to NAC from First National Bank of Chicago where he was an investment officer for large corporate pension funds. At NAC he was responsible for syndicating leveraged leases to banks and credit companies used to finance rail cars to a variety of railroads and shippers. These deals generally involved 100 to 150 railcars–not large by today’s standards–but, nevertheless, rewarding for NAC and also for Mr. Neumann. It was in this position that he developed what became a lasting relationship with Bank of New York.

When NAC was sold to GE, he was hired by First Chicago Leasing to join a team to reinvigorate the then dormant leasing company. After leading their leading their syndication division for a number of years, he was recruited to join BNY in 1989.

This Interview (in three segments) captures Neumann’s story, discusses bank leasing, investment tax credits, large-ticket deal-making and also what he thinks it will take for new entrants to succeed today in the equipment finance business.