First Citizens Bank Announces New Leadership in Equipment Finance Group

Rhea-AI Summary

First Citizens Bank (NASDAQ:FCNCA) has announced key leadership changes in its Equipment Finance group. Rod Versteegh, former Global Business Unit President at DLL, has been appointed as the new Equipment Finance Executive, bringing over 30 years of industry expertise.

Versteegh will succeed Mike Jones, who is retiring after 30 years in the industry but will continue in an advisory role into early 2026 to ensure a smooth transition. Additionally, James Ferguson, another DLL executive, has joined as Managing Director of Sales, effective immediately.

Positive

• None.

Negative

• Departure of successful long-term leader Mike Jones through retirement

News Market Reaction – FCNCA

-0.48%

-0.48% Session close to close

In the Sep 30 session, FCNCA declined 0.48%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

RALEIGH, N.C., Sept. 29, 2025 /PRNewswire/ -- First Citizens Bank today announced that Rod Versteegh, previously Global Business Unit President at DLL, has joined First Citizens as its new Equipment Finance Executive.

"A respected veteran of the finance industry with over 30 years of expertise, Rod's leadership will be an incredible asset," said First Citizens Bank President Peter Bristow in announcing the appointment.

"Rod has a clear track record of success that we are eager to build upon," Bristow continued. "He brings with him a fresh perspective and a wealth of knowledge from key industries such as material handling, construction, transportation, machine tools, food, agriculture and golf and turf."

"I am thrilled to join First Citizens Bank and honored to lead one of the largest and best equipment finance organizations in the industry," Versteegh said. "This is an exciting time for our sector, and I look forward to working closely with my new colleagues to support our clients and grow our business."

Versteegh will succeed First Citizens Equipment Finance President Mike Jones, who is retiring after 30 years in the industry. Under his leadership, First Citizens Equipment Finance has routinely been ranked among the largest and most successful bank equipment lenders in the industry by Monitor magazine, a leading trade publication.

"For almost a decade, Mike Jones' leadership steered Equipment Finance, elevating it to an industry pacesetter, first at CIT and then at First Citizens," Bristow said. "Mike has built a client-focused culture of collaboration, implemented key operational and organizational improvements and cultivated a team known for its excellence."

Jones will continue with First Citizens Equipment Finance into early 2026 in an advisory role to ensure a smooth and successful transition of responsibilities.

Also joining First Citizens Equipment Finance is James Ferguson, another DLL executive, as Managing Director of Sales. Since joining DLL in 2009, he has held a number of roles in the equipment finance organization, most recently responsible for managing global new business and strategic marketing. His appointment is effective immediately.

First Citizens Bank's Equipment Finance group empowers original equipment manufacturers, vendors and small and mid-size businesses by providing equipment financing solutions via a distinctive inside/outside sales coverage model, seasoned supporting staff, technology-enabled platforms and market-leading structuring expertise.

About First Citizens Bank
First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in Raleigh, N.C., First Citizens has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services including a network of branches and offices nationwide; commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast; innovation banking serving businesses at every stage; and a nationwide direct bank. Parent company First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $200 billion in assets and a member of the Fortune 500™. Discover more at firstcitizens.com.

MEDIA RELATIONS:
John M. Moran
212-461-5507
john.moran2@firstcitizens.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/first-citizens-bank-announces-new-leadership-in-equipment-finance-group-302570091.html

SOURCE First Citizens Bank

FAQ

Who is the new Equipment Finance Executive at First Citizens Bank (FCNCA)?

Rod Versteegh, previously Global Business Unit President at DLL, has been appointed as First Citizens Bank's new Equipment Finance Executive, bringing over 30 years of industry expertise.

When is Mike Jones retiring from First Citizens Bank's Equipment Finance division?

Mike Jones will retire from his position but continue in an advisory role into early 2026 to ensure a smooth transition of responsibilities.

What experience does Rod Versteegh bring to First Citizens Bank (FCNCA)?

Versteegh brings over 30 years of finance industry expertise with experience in material handling, construction, transportation, machine tools, food, agriculture, and golf and turf sectors.

Who is James Ferguson at First Citizens Bank Equipment Finance?

James Ferguson, formerly from DLL, has joined First Citizens as Managing Director of Sales. He previously managed global new business and strategic marketing at DLL since 2009.

What is First Citizens Bank's position in the equipment finance industry?

First Citizens Equipment Finance has been consistently ranked among the largest and most successful bank equipment lenders in the industry by Monitor magazine.