News Summary
First Citizens Bank has named Rod Versteegh as its new Equipment Finance Executive. With over 30 years in finance, Versteegh aims to enhance the bank’s operations in equipment financing. He succeeds Mike Jones, who is retiring after 30 years in the industry. Under Jones’s leadership, the equipment finance division thrived, and Versteegh’s appointment is part of a strategic restructuring to further improve the bank’s market position. Additionally, James Ferguson joined as Managing Director of Sales, emphasizing the bank’s commitment to strong client engagement.
Raleigh, N.C.—First Citizens Bank has announced the appointment of Rod Versteegh as its new Equipment Finance Executive, marking a significant leadership change within the bank’s equipment finance division.
Key Leadership Appointment and Background
Versteegh, who previously served as the Global Business Unit President at DLL, brings over 30 years of experience in the finance industry. Recognized as a veteran in the field, he is expected to leverage his extensive knowledge to strengthen First Citizens Bank’s equipment financing operations. His appointment is part of ongoing leadership restructuring intended to enhance the bank’s market position in equipment financing solutions.
Role and Responsibilities
In his new role, Versteegh will oversee the equipment finance group at First Citizens Bank, which provides financing solutions to original equipment manufacturers, vendors, and small to mid-size businesses. He is anticipated to introduce a fresh perspective and innovative strategies, drawing from his background across industries such as material handling, construction, transportation, machine tools, food, agriculture, and golf/turf sectors.
Leadership Transition
Versteegh succeeds Mike Jones, the outgoing Equipment Finance President, who is retiring after a 30-year career in the industry. Under Jones’s leadership, First Citizens Equipment Finance frequently ranked among the largest and most successful bank equipment lenders nationwide. Jones played a pivotal role in establishing a client-focused culture, implementing operational improvements, and building a highly regarded team during his tenure. To ensure a seamless transition, Jones will remain in an advisory role until early 2026.
Additional Executive Moves
Alongside Versteegh’s appointment, James Ferguson, another veteran of DLL with a history dating back to 2009 and various roles in equipment finance, has joined First Citizens Equipment Finance as Managing Director of Sales. Ferguson’s immediate start is part of the bank’s effort to bolster its sales and client engagement capabilities.
Bank’s Equipment Finance Services
First Citizens Bank’s Equipment Finance group offers tailored financing solutions for a variety of sectors, supported by a sales coverage model that employs seasoned staff, advanced technology-enabled platforms, and expert structuring capabilities. These offerings are designed to meet the needs of a diverse client base ranging from manufacturers to small and mid-sized businesses.
About First Citizens Bank
Headquartered in Raleigh, North Carolina, First Citizens Bank is a top 20 financial institution in the United States. The bank operates under the parent company First Citizens BancShares, Inc., which boasts assets exceeding $200 billion and is publicly traded on NASDAQ under the symbol FCNCA. The bank’s broader strategic initiatives include strengthening its lending platforms and expanding its market share within the financial services sector nationwide.
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Additional Resources
- PR Newswire: First Citizens Bank Leadership Announcement
- Business Wire: Record Year for Verdant Commercial Capital
- Sixth Street: Launch of Sixty First Commercial Finance
- Equipment Finance News: Equipment Loan Delinquencies Drop
- Wikipedia: Commercial Bank
Author: STAFF HERE RALEIGH WRITER
RALEIGH STAFF WRITER The RALEIGH STAFF WRITER represents the experienced team at HERERaleigh.com, your go-to source for actionable local news and information in Raleigh, Wake County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the North Carolina State Fair, Raleigh Arts Festival, and the Hopscotch Music Festival. Our coverage extends to key organizations like the Greater Raleigh Chamber of Commerce and Visit Raleigh, plus leading businesses in technology and education that power the local economy such as Red Hat and NC State University. As part of the broader HERE network, including HEREAsheville.com, HERECharlotte.com, HEREGreensboro.com, and HEREOBX.com, we provide comprehensive, credible insights into North Carolina's dynamic landscape.
