Rick Heater

RICHARD E. HEATER, JR.
rheater123@aol.com
51 Jericho Road
Holland, PA 18966
Cell: (215) 913.2820
rheater123@aol.com

PROFILE

Senior Sales Leader with over 20 years of experience in the equipment leasing and corporate finance market with a proven track record successfully leading sales teams in the Mid-Market and Large Corporate arena.
Effective in starting up operations, generating profitable P&L's, establishing market presence and winning customers and transactions from the competition. Collaborative business style with the ability to motivate cross-functional teams.

PROFESSIONAL EXPERIENCE

GE CAPITAL 1995 - present
Intermediary Funding Group, Hunt Valley, MD
Managing Director and Growth Leader (2006 - present)
Led the New Business Development portfolio and Regional Sales team. Identified and sold new growth opportunities to large banks and capital market syndication desks presenting all the financial products of GE Commercial Finance.
* Doubled volume from the Regional Accounts in one year and added 19 new intermediary relationships to build the foundation for the Regional Group.
* Streamlined the risk analysis and pricing procedure, which enabled our group to process 51 portfolios with NEA's of $3.7B in 2008, which was an increase of 23% from the prior year.
* Funded $237MM in new business volume and collected $427K in fees on a volume target of $150MM and fee goal of $400K.

Energy Financial Services, Fort Washington, PA
Senior Vice President (2004 - 2006)
Lead a multi-functional business team in new business development, relationship management, sales and operational support to the Intermediary Funding group for Energy Financial Services providing corporate finance, leasing and project finance lending.
* Booked $168MM in new volume and achieved the growth award in 2005.
* Identified over $3 billion dollars in new opportunities and had an approved backlog of $100MM in 2006.
* Expanded network of referral sources from zero to 50 in the two-year period.
* Established and implemented a cross-functional calling standard which became the model for the group.
* Tripled the opportunities for the Intermediary Funding Group. Booked 20 deals in 2004 to 65 in 2005 a volume increase from $ 36MM to $ 93MM.

Commercial Equipment Finance, Ft. Washington, PA/Danbury, CT
Senior Vice President/National Sales Manager (2002 - 2003)
Successfully merged GE's Commercial Asset Funding Group with Safeco Equipment Group into six Region offices and held full P&L responsibility. Led the group in hiring and redeploying the entire organization into one group with 17 sales managers and six separate risk teams with dotted line accountability to me.
* Met all financial and strategic objectives and laid the groundwork to ensure successful execution to meet goals and objectives in the following year.
* Set up a National Program with GE Power Systems. ($36MM volume, $65MM approved backlog in the first year)
* Standardized a calling program for field sales team, which led to more face-to-face sales calls and increased sales penetration with strategic prospects.

Commercial Asset Funding, Horsham, PA
Senior Vice President and Territory Manager (1995 - 2002)
Led the East Territory Commercial Asset Funding (CAF) operations after the acquisition by GE and became the premier office in the country by consistently meeting all goals and objectives throughout my tenure. The operation grew from $40MM per year in sales to $360MM. Outstandings increased from $46MM to one billion over a seven-year period.
* Led the group that generated the highest volume, margin and fees for the organization in 1995-1996, and 1999-2001.
* Integrated several ITT offices, Phoenixcor, IFG and SBFC group into the East Territory over the seven-year period.
* Led the sales generation, marketing, operations and training of six sales managers, two risk managers, two third party origination reps and a capital markets rep.
* Implemented and led ways to increase non-price price and became the highest contributor to the overall P&L.
* Increased leasing from 5% in 1995 to 30% of new business volume.

ITT CAPITAL FINANCE, Horsham, PA 1993 - 1995
Vice President and Zone Manager
Established a new expansion P&L office with full responsibility for all aspects of business from sales to office profitability. Recruited, trained and led a team of 14 sales and risk associates from Pennsylvania to Tennessee. Accountable for all P&L activities of the group.
* First year of operations met or exceeded all objectives
* Income of $2MM on a budget of $691k
* Non-price income of $1.1MM on a budget of $600K.

FIRST FIDELITY BANK LEASING GROUP, Philadelphia, PA/Newark, NJ 1985 - 1993
Vice President and Sales Manager
Started up the bank leasing company formerly known as Fidelity Bank. Top producing sales rep promoted to VP and Sales Manager. Established the standard calling effort on new customers and cross-selling leasing to bank customers that became the model for the group. The portfolio grew from zero in outstanding to over $1 billion in Net Earning Assets and ROE of over 20%. Met and exceeded all budget numbers and objectives during my tenure.

ITT INDUSTRIAL CREDIT COMPANY, Clark, NJ 1982 - 1985
Equipment Finance and Leasing Division
Account Rep and Sr. Risk Analyst
First year in Sales generated $7MM in volume for the New York Metropolitan area, which was 219% of budget. Promoted from Risk Analyst to Sr. Risk Analyst to Account Rep within two years.

HERTZ CORPORATION TRUCK DIVISION, Parsippany, NJ 1980 - 1982
National Credit Department
Credit Analyst
Credit Analyst at the National Headquarters. Reviewed and analyzed corporate financial statements and made recommendations on whether the organization should invest capital and equipment with various companies located throughout the U.S. and Canada.

EDUCATION, LICENSES and CERTIFICATION

B.S. Business Administration, Marist College; Poughkeepsie, New York
(Minor in Accounting)
Cum Laude graduate and Presidential Scholarship recipient
GE Six Sigma Greenbelt Certification
Pennsylvania Real Estate License