Money360 Names Tom MacManus as President

MacManus will lead the company’s expansion along as well as operations of its sales team, driving strategic growth and broadening its origination network.

Money360 has named a new president. Tom MacManus will step into the role, succeeding former president Gary Bechtel, who has joined Red Oak Capital Group as CEO. MacManus will oversee the company’s expansion as well as the operation of the company’s sales team, driving strategic growth and broadening its origination network.

“I have had the good fortune to lead teams at top tier commercial real estate lenders, where I learned that success is born from collaboration and culture. So to me, a cultural fit is essential,” MacManus tells GlobeSt.com. “I feel we have that here at Money360 and I am excited to build upon that foundation. We have the opportunity to harness the firm’s collective strengths and take our platform to the next level. The team at Money360 is collaborative in its approach, has shared values and enjoys working together, which I believe are key to enabling us to reach our goals. Achieving success as individuals and for all our stakeholders while having fun are not, and should not be, mutually exclusive.”

MacManus is an industry veteran with 30-plus years of experience with a resume that includes GMAC, Cushman & Wakefield and ARA Finance. He plans to leverage this experience to grow Money360’s business. “I enjoy growing businesses and have a track record of success, with the help of others, in doing so,” says MacManus. “This is a challenge that suits my leadership style and orientation in business development and relationship building, while adhering to disciplined decision making.”

The appointment comes at an important moment for Money360, which includes a new $250 million credit facility with Credit Suisse, which will expand the firm’s market presence and funding capacity. In addition, MacManus plans to focus on talent recruitment. “I plan to expand our origination team for greater coverage nationally,” he says. “I am looking to hire talented key originators to drive more volume. It is more about the quality than quantity. Fewer originators—these may be very senior dealmakers in many cases—have a strong meld of skills in relationships and sales as well as proficiency in credit risk assessment and prior loan structuring experience.”

This is certainly true in bridge lending space. “The bridge loan area is indeed more an art than a science, and requires a bit more skill and creativity in negotiating good deals for both the borrower and lender,” says MacManus.

MacManus is also looking ahead to the future to expanding its client services. “We may expand and consider other borrower profiles or risk-based pricing options and programs,” he says. “In particular, we are aiming to increase the average loan size above the current $10 million, which may lead to a shift in borrower profile. We have $1+ billion in funding capacity now, and with additional institutional investors coming on board, that amount should double.”

Original article: https://www.globest.com/2020/10/30/money360-names-tom-macmanus-as-president/