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Suzanne Dawson
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THOMAS W. STRACHAN JOINS FIRST
CAPITAL AS
CHIEF CREDIT OFFICER
WEST PALM BEACH, FL – First Capital, a leading financial services firm, announced today that Thomas “Tim” W. Strachan has joined the company as Chief Credit Officer. Tim will be a member of the First Capital executive management team.
Prior to joining First Capital, Tim founded T & B Connections, LLC, a continuation of MetSource Capital, LLC, of which he was Co-founder, Managing Director and 20% owner. At both T&B Connections, LLC and MetSource Capital, LLC, Tim worked on advising clients in areas such as due diligence examinations for lending institutions, venture funds and private institutions, firms operating in bankruptcy and performing forensic accounting functions.
“We are extremely excited to have Tim as a part of First Capital’s management team,” said Mark Sunshine, COO and CFO, First Capital. “Tim is an elite professional and dedicated leader in the finance industry, bringing many years of knowledge and expertise to First Capital.”
Tim previously served as Executive Vice President for BNY Financial Corporation, a wholly owned subsidiary of the Bank of New York Company, Inc. and its successor Corporation, GMAC Commercial Credit, which was created from the sale of the assets of BNYFC to GMAC. As Executive Vice President and member of the Marketing and Loan Committees, Tim worked actively in developing new sources of deal flow and development of new business in non-traditional industries. He also reported directly to the President and was mainly involved in “special situations” such as client debt restructuring and workout strategies.
Prior to BNY, Tim served as Senior VP for North Fork Bank, where he was responsible for the development of the Asset Based Lending Unit for the Bank and head of the ABL Unit, including credit approval authority.
Tim has also served as Vice President for Bankers Trust Company, where he was actively involved in “special situation” transactions including Leveraged Buyouts, DIP Financing, workouts and structuring prospective transactions. From April 1990 to May 1991, Tim was directly responsible for the liquidation, restructuring and repayment of over $200 million in client loans remaining with Bankers Trust Company after the sale of the Asset Based Lending Division to the Bank of New York.
Tim has a B.B.A. in Finance from the University of Notre Dame.
About First Capital
First Capital is a leading financial services firm providing prompt, professional and reliable working capital solutions for middle market companies and institutions. Founded in 1987, the firm focuses on Traditional Factoring, Asset-Based Lending and Discount Factoring for clients in North America and Asia with financing needs from $35,000 to $250 million. The firm also manages asset portfolios for clients and is an active issuer of receivables-backed securities. Combining a unique blend of old and new banking methods, First Capital provides clients with the proper support needed to grow and maintain their business. Based out of West Palm Beach, Florida, the firm has six full service offices in major cities including New York, Los Angeles, Ft. Lauderdale, Oklahoma City and Atlanta and a subsidiary that is headquartered in Hong Kong.
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