Modern Bank Launches Energy Lending Vertical
September 24, 2020, NEW YORK – Modern Bank, N.A. announced that Thomas Stelmar, Jr. has joined the Bank as the Managing Director, Head of Energy Lending. Thomas will be responsible for leading the Bank’s energy lending vertical as Modern enters into the oil and gas sector. Thomas will report to Curtis Lueker, Chief Lending Officer and Head of Commercial Markets.
On the hire, Mr. Lueker said “We are excited to have Tom on the team and while we appreciate that the energy sector has faced some recent challenges, we believe that the time is right to build a long-term energy lending franchise.”
Modern’s new energy lending vertical will be dedicated to meeting the needs of the oil and gas sector by providing senior credit facilities, including reserve based and midstream loans, as well as depository services to the industry’s middle market segment.
Thomas has over 25 years of senior level lending experience in all phases of energy finance, including both consulting and commercial lending positions focused on exploration and production and midstream sectors in Dallas, TX.
“Tom is an excellent addition to the Commercial Markets Team to build Modern’s energy lending infrastructure and increase the value of our franchise with new and quality borrower relationships,” said Michael Tedesco, President and Chief Financial Officer.
Thanking Our Partners
Modern Bank is pleased to announce a highly successful 2019, where we closed 56 transactions, invested $230 million, increased our loan portfolio by 8% and hired five new team members. Please welcome our two newest hires, Ben Harris and Emanuel Ma. We thank you for your support and look forward to working with you this year.
Commercial Markets 2019 Highlights
New Team Members
New Additions to the Team
Ben Harris joins Modern Bank with more than 16 years of commercial lending and private equity investing experience, holding various positions at Orix, Prospect Capital, Bank of America, and Arcapita. Mr. Harris received a Bachelor of Science in Economics from University College London and a Master of Business Administration from the University of Chicago Booth School of Business.
Emanuel Ma joins the team with more than 12 years of experience at Morgan Stanley, working on corporate and leveraged finance transactions. Mr. Ma graduated from New York University with a B.S. in Business with dual concentrations of Finance and Actuarial Science.