HUNT VALLEY, Md. -- Lawrence J. Butler, chairman and CEO of Butler Capital Corp., has named Joseph P. Serio president and chief operating officer of the national business lending firm.
Serio's promotion represents the first time in nearly 30 years that Butler Capital's presidency has been held by anyone other than the company's founder.
Originally hired as controller to oversee the firm's financial accounting, portfolio management and collections, Serio was promoted to vice president and chief financial officer in 1998, adding [image-nocss] credit operations to his responsibilities. In mid-2001, he was named executive vice president and became chief operating officer in 2005.
Serio is responsible for Butler Capital's business development, operations, credit underwriting and finance units, overseeing a staff of more than 50 professionals.
With Serio's promotion, Butler ascends to the role of board chairman. He retains the CEO title.
Butler Capital is a direct lender to U.S. convenience stores, offering fixed-rate loans and leases to fund new equipment purchases, leasehold improvements, rebranding, additional profit centers and business acquisitions.
Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.