New hire to expand Medallion Financial markets

Medallion Financial, which specialises in finance for the taxicab industry and other niche markets, has hired commercial finance veteran Marc Adelson to be the president of its asset-based lending division Medallion Business Credit.

Adelson will report to Medallion Financial president Andrew Murstein and chief operating officer and chief credit officer Brian O’Leary. He previously served as the CEO and president of Capital Business Credit and was co-head of CIT’s $7 billion ABL group, having also started Heller Financial’s ABL division.

“This is an exciting time for Medallion Financial as we expand our commercial finance presence to be the lender of choice to the small to mid-market lending space,” said Murstein.