VAR Technology Finance, a division of LEAF Commercial Capital, Inc., a subsidiary of People's United Bank, N.A., announced Jonathan Fales will join its team as Vice President of Business Development.

A finance industry veteran who previously served as Director at The Alta Group and Vice President at Key Equipment Finance, Fales will play a critical role in driving VAR’s continued rapid growth in the technology financing sector.

“It’s a great privilege to welcome Jon to the VAR Technology Finance team,” said Gary Sutton, President, AR Technology Finance. “With decades of industry leadership experience, Jon will be instrumental in shaping VAR’s strategy, extending our lead in existing technology markets and capturing new market opportunities industrywide.”

As VAR’s Vice President of Business Development, Fales will apply his deep understanding of the industry to strategic planning and leading the company into the next phase of its growth.

“Jon is an internationally recognized leader in the equipment leasing and financial services industry,” said LEAF Chairman and CEO Crit DeMent. “His experience, financing acumen, and demonstrated facility for driving growth will be valuable assets as VAR continues to expand its presence as one of the nation’s leading technology finance providers.”

Texas-based VAR Technology Finance provides financing, leasing and outsourced captive capabilities within the technology channel, supporting leading technology manufacturers, distributors and resellers.

Equipment Finance Advisor reported People’s United Bank acquired VAR Technology Finance in January.