CIT’s Belcastro joins Santander

Santander Bank N. A. has appointed industry veteran Vincent Belcastro as the group head of its middle market and large corporate equipment, structured finance and leasing business.

Belcastro’s role will be to significantly grow and expand this group in order to build up a nationally focused full service equipment finance business at the US division of the Santander Banking Group.

“We’re excited to have Vincent lead our equipment financing group,” said Cameron Letters, managing director and head of commercial banking at Santander. “He brings years of industry experience that will attract new clients and reinforce our equipment finance product offering for existing clients. This fully complements our strategy to support our clients across a number of key product lines.”

Belcastro has more than 25 years of experience in secured financing and leveraged finance, primarily in the risk management-related areas of the corporate middle market arena. A senior secured credit professional and expert structuring specialist, he has held management positions at CIT Group Inc. and Citibank, and has also held several transaction-oriented credit positions, at both Republic National Bank and Deutsche Bank, supporting deal-related financing activities in Latin America and Asia. 

Most recently Belcasto was group head of CIT Capital Equipment Finance, having served as senior risk officer within CIT Corporate Finance. He was instrumental in the launch, team build-out and integration of CIT’s Problem Loan Management and Healthcare groups. Before joining CIT in 2001, he served in a variety of senior relationship management positions at Citibank N.A. where he was responsible for sourcing and structuring new corporate financing and leasing transactions.

“Given Vincent’s extensive background in the industry, we are pleased he chose to join us,” said Juan Davila, head of specialty banking at Santander. “With his experience and the global reach and tremendous resources of Santander, we are in a great position to provide both advice and financing to support all of our clients’ equipment needs.”