April 22, 2004 – Northbrook, IL … Daniel Chapa III, formerly president of Bank of America Business Credit, has joined Hilco Appraisal Services, LLC as Partner. Mr. Chapa will assume a leadership role in business development. Hilco Appraisal Services, with offices in nine U.S. cities, Canada and the United Kingdom, is North America’s largest appraiser of business assets.
Mr. Chapa managed the primary lending business of Bank of America Business Credit (BABC) in the midwest region from 1999 until 2001, when he was named president of the national organization. BABC is one of the largest bank-owned asset-based lenders in the world, with lending commitments in excess of $17 billion and offices in the U.S., Canada and the U.K.
Chapa, a Texas native, earned a degree in finance from Baylor University and began his banking career in 1984 with a community bank in Brownsville. In 1987 he joined the Federal Deposit Insurance Corporation (FDIC) in their Dallas office where he managed the workout and liquidation of real estate loans from various failed financial institutions.
In 1987, Chapa joined First Republic Bank in Ft. Worth, Texas, to help manage the workout and liquidation of a portfolio of real estate and commercial loans. Following the acquisition of First Republic by NationsBank, Chapa helped establishing commercial and real estate workout groups in South Carolina and North Carolina for the bank. In 1993, he moved to Providence, Rhode Island, to help establish and manage AMERSCO New England, Inc. AMERSCO initially was a wholly-owned subsidiary of the bank that was spun-off in 1993. However, in 1997, he was rehired by NationsBank to set up a workout group in St. Louis for the recently acquired Boatman’s Bancshares, Inc.
Following the merger of NationsBank and Bank of America in 1998, Chapa moved to Chicago to head-up the Midwest region of Bank of America Business Credit. In 2001 he was named president of BABC across the entire franchise. While at BABC, Chapa was also actively involved with the bank’s Diversity Advisory Counsel, which helped to establish the corporation’s strategy for diversity in the workplace.
Commenting on Chapa’s decision to join Hilco Appraisal Services, company President and CEO, Fred C. Caruso said, “I cannot overstate the value Dan will bring to our business. He is well-known and highly-respected in the asset-based lending community. He brings a “lender’s perspective” to our appraisal business because he understands exactly what lenders need and want from their appraisal provider, and how best to meet those expectations. For these reasons alone, Dan is certain to have a major impact on our business development and customer service success.”
Jeffrey B. Hecktman, Chairman and CEO of Hilco Trading Co.,, Inc., the holding company for Hilco Appraisal Services, said, “It speaks volumes about our company’s reputation in the asset-based lending community that someone of Dan’s stature would opt to become a member of the Hilco family. We are very fortunate to have Dan with us. He will add great value.”
Hilco Appraisal Services specializes in appraisals of consumer and industrial inventory, machinery and equipment, intellectual property and complete business valuations. The company also provides real estate and accounts receivable portfolio valuations through affiliated Hilco business units. Clients include asset-based lending institutions, private equity funds and investment banking firms as well as manufacturers, wholesale and distribution companies, and retail organizations. Offices are located in Chicago, Boston, Detroit, Atlanta, Charlotte, Los Angeles and Oakland California, Toronto, Canada and London, England.
Hilco Appraisal Services is a unit of The Hilco Organization, an international leader in business asset valuation, acquisition, disposition and financing.
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