From bank ABL platforms to independent factoring and specialty lenders, a new cohort of leaders is stepping into pivotal roles, bringing fresh perspectives while honoring the discipline and structure that have long defined the industry. TSL’s editor-in-chief interviewed ten leaders who have taken on new roles:  Jon Biorkman, head of Asset-Based Lending & Equipment Finance, BMO; Kim Fisk, president, Triumph Factoring; John Freeman, head of Asset-Based Finance, U.S. Bank; Yvonne Kizner, senior vice president, head of Asset-Based Lending, Cambridge Savings Bank; Niamh Kristufek, president – Specialty Finance, First Business Bank; Gen Merritt-Parikh, co-CEO, Haversine Funding; Steve Pomerantz, ABL group head, Fifth Third Bank; Jay Schweiger, president, Huntington Business Credit; Andrew Ray, global head of Asset-Based Lending, J.P. Morgan; and Neil Wolfe, CEO, Iron Horse Credit.

A dynamic handoff is underway across secured finance. From bank ABL platforms to independent factoring and specialty lenders, a new cohort of leaders is taking the helm. They are inheriting the sturdy foundations that built this industry, discipline, structure, and focus on collateral, while ushering in data-rich, technology-enabled ways of working.

Leadership, Empowerment, and Culture
The new leadership ethos isn’t about disruption for its own sake. It’s about sharpening the classic virtues of secured finance—clarity of purpose, disciplined risk-taking, and transparent communication—while empowering teams closest to the work to act decisively. ABL and factoring remain people-oriented businesses: relationships, expertise, and judgment are integral to putting capital to work. Today’s leaders emphasize enabling their teams and removing friction so decisions can be made with speed and confidence.

John Freeman was named head of asset-based finance at U.S. Bank in 2024. He reflected on how three decades of diverse roles in asset-based lending shaped his problem-solving mindset and prepared him for this role: “My career in asset-based lending began 30 years ago with Congress Financial, where I held roles within ABL operations, fi eld examination and portfolio management. From there, I embraced new opportunities with JPMorgan, including underwriting debtor-in-possession and exit fi nancings, and opening an ABL offi ce in Vancouver, Canada. Each of these experiences deepened my understanding of how to solve complex problems for clients. Joining U.S. Bank in 2020 also marked a pivotal chapter; by 2024, I was honored to lead our ABF business, driven by a passion for growth and teamwork.”

“Leadership today means shaping a growth trajectory that redefines what’s possible. For the next generation of ABL professionals, that requires cultivating collaboration across diverse viewpoints, eliminating friction in processes, and harnessing technology to elevate client outcomes. Effective leadership combines strategic vision with adaptability and an unwavering commitment to continuous improvement,” said Jon Biorkman who became head of Asset-Based Lending & Equipment Finance, BMO, in the fall of 2025, after Michael Scolaro’s retirement.

“At BMO, we’re fortunate to build on a foundation of excellence established by leaders like Mike Scolaro. Our mandate is to preserve that strength while advancing purposeful innovation. Modernization isn’t disruption for its own sake—it’s grounded in listening to clients, anticipating change, and empowering exceptional talent. We emphasize disciplined risk–reward decisions, a growth mindset, and delivering the full breadth of BMO’s capabilities to help clients thrive through all different market cycles,” he added.

Biorkman explained that a leader’s responsibilities include setting the direction, empowering team members, and communicating clearly and consistently. Biorkman believes that regardless of past outcomes, each day offers a new opportunity to make a significant impact, both now and in the future. 

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