MUFG Expands Financing Platform To Hospitality Industry
Industry veterans Tracy Vasquez and Steven Getty to lead hotel-franchise practice within newly expanded Restaurant and Hospitality Finance team
New York, NY /PRNewswire/ - Mitsubishi UFJ Financial Group (MUFG) announced today the expansion of its restaurant-finance platform to cover hotel franchises with the hiring of two veteran bankers to its Restaurant and Hospitality Finance team, which is part of MUFG's Corporate and Investment Banking division.
Director Tracy Vasquez will lead loan underwriting and portfolio management of hotel-franchisee clients, and report to Quinn Hall, the team's Head of Loan Underwriting and Portfolio Management. Director Steven Getty will serve a senior relationship management function spearheading business development within the hospitality industry, and will report to Brian Geraghty, the team's Head of Loan Originations.
"With the addition of Tracy and Steven, we are scaling out our deep talent bench and expertise in franchise lending to pursue a significant new platform expansion in the hospitality industry," says Nick Cole, Head of Restaurant and Hospitality Finance. "Tracy and Steven are seasoned professionals who position us to deliver robust financing and advisory capabilities to franchisees of mid-scale, limited-service hotel chains, which represent a market segment with attractive risk/return credit characteristics, as well as growth opportunities for MUFG."
Ms. Vasquez will be based in Scottsdale, AZ, and has two decades of industry experience. Previously she was a Director of Underwriting and Portfolio Management for Wells Fargo's hotel-loan portfolio. Before then, Vasquez held senior roles at GE Capital's Franchise Finance Unit and at Western Alliance Bank that included the management of hotel-loan portfolios and underwriting responsibilities.
Mr. Getty will be based in Atlanta, GA. He was previously a Director of Hotel Franchise Finance at Wells Fargo, where he helped develop relationships with hotel investors and drove loan origination. Formerly, Getty assumed a number of key positions with similar responsibilities at Western Alliance Bancorporation's and GE Capital's Franchise Finance businesses.
MUFG's newly expanded Restaurant and Hospitality Finance team comprises investment banking professionals across multiple other locations including San Diego, Chicago, and Boston.
About Mitsubishi UFJ Financial Group, Inc.'s U.S. Operations including MUFG Americas Holdings Corporation
The U.S. operations of Mitsubishi UFJ Financial Group, Inc. (MUFG), one of the world's leading financial groups, has total assets of $342.4 billion at June 30, 2022. As part of that total, MUFG Americas Holdings Corporation (MUAH), a financial holding company, bank holding company, and intermediate holding company, has total assets of $152.5 billion at June 30, 2022. MUAH's main subsidiaries are MUFG Union Bank, N.A. and MUFG Securities Americas Inc. MUFG Union Bank, N.A. provides a wide range of financial services to consumers, small businesses, middle-market companies, and major corporations. As of June 30, 2022, MUFG Union Bank, N.A. operated 297 branches, consisting primarily of retail banking branches in the West Coast states. MUFG Securities Americas Inc. is a registered securities broker-dealer which engages in capital markets origination transactions, domestic and foreign debt and equities securities transactions, private placements, collateralized financings, and securities borrowing and lending transactions. MUAH is owned by MUFG Bank, Ltd. and Mitsubishi UFJ Financial Group, Inc. MUFG Bank, Ltd., a wholly owned subsidiary of Mitsubishi UFJ Financial Group, Inc., has offices in Argentina, Brazil, Chile, Colombia, Peru, Mexico, and Canada. Visit www.unionbank.com or www.mufgamericas.com for more information.
Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world's leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with approximately 2,400 locations in more than 50 countries. The Group has about 170,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to "be the world's most trusted financial group" through close collaboration among our operating companies and flexibly respond to all of the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG's shares trade on the Tokyo, Nagoya, and New York stock exchanges. For more information, visit https://www.mufg.jp/english.
Source: MUFGCopyright 2022 PR Newswire. All Rights Reserved