Nooney Joins First Capital, Company Forms Joint Venture
John J. Nooney has joined First Capital Western Region as senior vice president, Western-region factoring portfolio manager. Nooney, who was previously Southeastern regional manager of GMAC Commercial Finance, is replacing Matthew R. Begley, who was promoted to chief operating officer of First Capital Financial Services, Asia Limited.
The West Palm Beach, Fla.–based financial-services company recently formed a joint venture with Iselin, N.J.–based Siemens Financial Services Inc., the U.S.–based financial-services arm of Siemens AG, the global electronics and engineering company based in Munich, Germany. The new joint venture, called Siemens First Capital Commercial Finance LLC, will be based in West Palm Beach and will offer working capital and accounts-receivable financing for customers based in the United States and in Asia. The company will focus on “cross-border asset-based financing between $20 million and $200 million by managing the collections and non-payment risk for Asian clients shipping goods into the U.S.” —Alison A. Nieder
