Alan “Al” Gerber joined VFG in 2018. He is a highly regarded successful veteran of the equipment lease financing industry.
His experience includes working at The CIT Group for 35 years, initially in Boston and then relocating to Philadelphia. Al’s responsibilities included taking on leadership roles in P&L management, individual sales, sales management, managing a documentation team, and more. As VP-Sales, he managed a $700,000,000 portfolio and produced over $300,000,000 of annual sales volume. During his impressive career with CIT, he managed several teams which ranged from 6-50 people. Al has received numerous recognition awards over the years acknowledging his success and tremendous business achievements.
For the 7 years prior to joining VFG, Al expanded his financial services experience as a self-employed consultant to banks, credit unions, savings associations and other financing entities. His roles included reviewing various bank risk grading systems and loan portfolios to help ensure that bank covenant compliance was properly monitored. Following the Great Recession, he was a key member of a “SWAT” team that the Federal Reserve called upon to help the U.S. banking system recover. This included performing Asset Review Testing of loans and OREOs (“Other Real Estate Owned” assets – a bank accounting term that refers to real estate owned assets as non-earning assets). These “assets” were part of portfolios that belonged to failed banks which were purchased by acquiring banks and fell under the FDIC/Loss Sharing Agreement. Most of these “assets” were either in default or workout situations and were comprised mainly of corporate real estate and asset-based loans. Al would review the work-out strategies and re-sale efforts on both the loans and OREOs while confirming that the lender was pursuing to maximize the guarantor deficiencies and settlements.
Al holds an MBA from Suffolk University in Boston, MA and a BS in Business Administration from Northeastern University in Boston, MA. He resides in the Philadelphia area with his wife Elizabeth. In his free time, he enjoys visiting his two daughters in New York City and Miami as well as visiting his extended family in Massachusetts. When in Miami, he especially enjoys reading to his one-year-old grand-daughter. Al acts as CFO of his daughter’s Public Relations firm in NYC. (He states that the pay isn’t very good, but he enjoys helping and watching his daughter grow her company.) When he is not working, Al enjoys a friendly round of golf with his friends.