BankRI’s equipment finance business gets new leader

PROVIDENCE – Paul Vecker will succeed 50-year veteran Daniel West as president and CEO of Macrolease Corp., an equipment finance company and Bank Rhode Island subsidiary, the bank announced.

Vecker’s appointment is effective June 17, according to the bank, which described Macrolease as a “full-service, equipment finance company specializing in servicing the fitness, franchise, nonprofit and health care markets.”

West, who will retire at the end of June, founded Macrolease in 1969 and has served as the company’s CEO since then. In 2005, Macrolease become a subsidiary of Bank Rhode Island.

Vecker brings 35 years of experience in the equipment finance industry, most recently serving as a senior executive at PNC Equipment Finance, a company with more than $16 billion in assets, according to the bank. While at PNC, Vecker served in different leadership roles, including chief growth officer and general manager of the company’s vendor finance business.

- Advertisement -

Prior to PNC, Vecker was the president and CEO of Navigator Group LLC, an equipment finance business that he founded.

“We are pleased to have someone with Paul’s background and experience joining our company,” said Bank Rhode Island President and CEO Mark J. Meiklejohn. “We are looking forward to Paul leading Macrolease through the next chapter of its storied history.”

Bank Rhode Island, a wholly owned subsidiary of Boston-based Brookline Bancorp Inc., operates 20 branches and more than 55 ATMs in Rhode Island.

Scott Blake is a PBN staff writer. Email him at Blake@PBN.com.