Commercial Equipment Finance Inc. (CEFI) promoted Vice President of Sales and Marketing Ricardo Ríos Jr., CFA, to Chief Operating Officer. Ríos Jr. has been part of the operations since 2012 and will take on the role of COO to advance the operational needs of the company and support business growth.

“After successfully launching CEFI’s continental U.S. expansion into the state of Florida, Ricky’s appointment as COO will surely bring a multitude of operational and strategic efficiencies to support CEFI’s continued growth and U.S. presence” said Ricardo Ríos Sr., CEO and President of CEFI.

In May 2018, CEFI launched a Texas office as part of its Continental U.S. expansion plans and named Eduardo Sobrino as CEFI’s U.S. Regional Manager. Sobrino, with over 32 years of equipment finance and leasing experience, will lead CEFI’s US Originations platform from Dallas, TX.

“I am very happy, to once again, work with Eduardo. During our time together at CitiCapital in Puerto Rico, we achieved exceptional growth under a highly structured team environment throughout the late ‘90s and early 2000s,” Ríos Sr. said.

Sobrino has held multiple executive positions with equipment finance companies throughout his career, such as Bansander Leasing, Oriental Bank & Trust, CitiBank, CitiCapital, Citigroup and Wells Fargo.

“We are certain Eduardo’s knowledge and efforts will result in a multitude of business milestones throughout the years to come,” Ríos Jr. said.

Founded in 2009, CEFI is a full-service, small and mid-ticket independent equipment finance and leasing company with headquarters in Puerto Rico and operations in Puerto Rico, Florida and Texas.