Wintrust Business Credit Expands Great Lakes Footprint
July 12, 2023
Source: Wintrust Business Credit
Chicago, June 28, 2023 – Wintrust Business Credit (WBC), a subsidiary of Wintrust (NASDAQ: WTFC), today announced the addition of Joe Panico as Senior Vice President- Business Development, growing WBC's footprint in the Great Lakes Region, as part of the group's expansion into new strategic markets.
With a robust business development and deal structuring background, Panico brings a wealth of experience to WBC. His proven track record in fostering strategic partnerships and driving business growth aligns seamlessly with Wintrust’s vision to expand its presence in the eastern Midwest and Northeast. Panico's exceptional ability to identify opportunities, analyze market trends, and develop tailored financing solutions will further strengthen WBC's position as a trusted provider of asset-based lending and working capital financing solutions.
"I'm eager to join a prestigious organization with an unmatched reputation for providing capital solutions to middle-market companies," Panico said. "As many national and regional banks reduce their risk appetite, Wintrust continues to be in the market providing critical working capital support to the backbone of our economy."
"We are excited for Joe to join Wintrust Business Credit," said Jason LeuVoy, Group Senior Vice president and national head of originations at WBC. "Joe has been a leading presence in Ohio, and the broader Great Lakes market, for several years. Bringing Joe on board will allow WBC to expand our delivery of best-in-class senior debt and working capital solutions to middle-market borrowers across various industries and situations. We believe Joe will be a great asset to the team, supporting our overall growth strategy and helping our clients achieve their goals."
Panico joins Wintrust, in Cleveland, Ohio, with extensive asset-based and commercial lending experience, most recently at Pitney Bowes Bank, where he served as Division Manager of Working Capital Lending, leading the national working capital lending business. Before Pitney Bowes, he founded an asset-based lending business for a $23B bank and spent a decade at PNC Bank.
Panico is a member of the Association for Corporate Growth, Turnaround Management Association, and Secured Finance Network member. He is a past president of SFNet Ohio and a TMA of Northern Ohio committee member. Panico attended Kean University in Union, New Jersey. He lives in a suburb of Cleveland with his wife and four children.
About Wintrust Business Credit
Wintrust Business Credit (WBC) provides traditional asset-based lending and accounts receivable financing to middle market companies across various industries, including, but not limited to, Manufacturing, Distribution, Metals, Transportation, and Staffing. WBC supports companies in a number of different situations, including high growth, turnaround, recapitalization, restructuring, M&A, and seasonal and cyclical needs.
About Wintrust
Wintrust is a financial holding company with assets of $50 billion whose common stock is traded on the NASDAQ Global Select Market under the symbol WTFC. Built on the "HAVE IT ALL" model, Wintrust offers the sophisticated technology and resources of a large bank while providing service-based community banking to every customer. Wintrust operates fifteen community bank subsidiaries, with over 171 banking locations located in the greater Chicago and southern Wisconsin market areas. Additionally, Wintrust operates various non-bank business units.
With a robust business development and deal structuring background, Panico brings a wealth of experience to WBC. His proven track record in fostering strategic partnerships and driving business growth aligns seamlessly with Wintrust’s vision to expand its presence in the eastern Midwest and Northeast. Panico's exceptional ability to identify opportunities, analyze market trends, and develop tailored financing solutions will further strengthen WBC's position as a trusted provider of asset-based lending and working capital financing solutions.
"I'm eager to join a prestigious organization with an unmatched reputation for providing capital solutions to middle-market companies," Panico said. "As many national and regional banks reduce their risk appetite, Wintrust continues to be in the market providing critical working capital support to the backbone of our economy."
"We are excited for Joe to join Wintrust Business Credit," said Jason LeuVoy, Group Senior Vice president and national head of originations at WBC. "Joe has been a leading presence in Ohio, and the broader Great Lakes market, for several years. Bringing Joe on board will allow WBC to expand our delivery of best-in-class senior debt and working capital solutions to middle-market borrowers across various industries and situations. We believe Joe will be a great asset to the team, supporting our overall growth strategy and helping our clients achieve their goals."
Panico joins Wintrust, in Cleveland, Ohio, with extensive asset-based and commercial lending experience, most recently at Pitney Bowes Bank, where he served as Division Manager of Working Capital Lending, leading the national working capital lending business. Before Pitney Bowes, he founded an asset-based lending business for a $23B bank and spent a decade at PNC Bank.
Panico is a member of the Association for Corporate Growth, Turnaround Management Association, and Secured Finance Network member. He is a past president of SFNet Ohio and a TMA of Northern Ohio committee member. Panico attended Kean University in Union, New Jersey. He lives in a suburb of Cleveland with his wife and four children.
About Wintrust Business Credit
Wintrust Business Credit (WBC) provides traditional asset-based lending and accounts receivable financing to middle market companies across various industries, including, but not limited to, Manufacturing, Distribution, Metals, Transportation, and Staffing. WBC supports companies in a number of different situations, including high growth, turnaround, recapitalization, restructuring, M&A, and seasonal and cyclical needs.
About Wintrust
Wintrust is a financial holding company with assets of $50 billion whose common stock is traded on the NASDAQ Global Select Market under the symbol WTFC. Built on the "HAVE IT ALL" model, Wintrust offers the sophisticated technology and resources of a large bank while providing service-based community banking to every customer. Wintrust operates fifteen community bank subsidiaries, with over 171 banking locations located in the greater Chicago and southern Wisconsin market areas. Additionally, Wintrust operates various non-bank business units.
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