Mr Penfold will report to Robert Derrick, managing director of Prudential Capital Group. He will oversee the Prudential Capital Group’s commercial asset finance business. Prior to joining Prudential Capital Group, Mr Penfold has spent four years serving small businesses through his own consulting firm. Mr Penfold holds a Bachelor of Science in psychology from the University of Tennessee and an MBA from the Owen Graduate School of Management at Vanderbilt University.

Mr Derrick said: Mr Bob comes to us with a varied range of tenured experience in all major areas of the capital equipment financing and leasing industry. His experience and perspective generates the viewpoint and knowledge that will guide the future direction and success of this group.