Macrolease Corporation announced Paul Vecker will join the company as President and CEO, effective June 17.

Vecker brings nearly 35 years of experience in the equipment finance industry, most recently as a senior executive at PNC Equipment Finance, the fourth-largest bank-owned equipment finance company, with more than $16 billion in total assets.

While at PNC Equipment Finance, Vecker served in leadership roles, including Chief Growth Officer and General Manager of the company’s vendor finance business.

Prior to joining PNC, Vecker was the President and CEO of The Navigator Group, LLC, a specialized equipment finance business he founded. He also held senior executive positions at other public and privately owned equipment finance companies. Vecker is a graduate of the State University of New York at Albany.

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

Macrolease, an equipment finance company dedicated to the fitness industry, became a subsidiary of BankRI in 2015.

Vecker will be succeeding Daniel West, who founded the company in 1969, and has served as its CEO since. West will be retiring effective the end of June.