Global commercial equipment finance expert Bob Rinaldi has launched a series of video interviews – called Leasing Legends – engaging with some of the key influencers in the finance industry. In the second of a series of discussions with Arnaldo Rodriguez, president of CSI Leasing, he discusses how to respond to growth opportunities.
Successful companies grow because leadership teams know how to make the most of opportunities as they arise.
For Arnaldo Rodriguez, president of CSI Leasing, the opportunities came from customers, who were keen for the finance company to provide funding in new markets to support their operations.
“There wasn’t a master plan,” Rodriguez says. “We saw the market opportunity when customers asked us to support them in new markets and we followed them.”
The company’s initial success had come from Mexico in the wake of the 1994 Tequila Crisis, when the country was confronted with a strong devaluation of the peso that led to both a currency and banking crisis.
Rodriguez said: “Auto finance type companies had a very difficult time getting any kind of liquidity and the banks weren't providing any type financing let alone non-recourse.”
After securing a loyal customer base, international expansion followed as the company adapted to customer demand.
Rodriguez added: “We had multinational accounts and we had vendors asking us to support them in new markets, so it was really more an issue of following them and taking advantage of these opportunities that existed in the markets, so it wasn’t rocket science.
“We focused on Mexico for a year and a half before we really started investing in other markets because we wanted to validate that we had these opportunities, and so it took a while but once we validated that, we pursued other markets.”
You can see part 2 of the interview below, or view other Leasing Legends videos by visiting the interview hub.
* Bob Rinaldi provides advisory services to independent lessors, financial institutions, industry service providers, manufacturers, and international firms entering the US equipment finance marketplace. Major services include new business development and confidential advisory services to principals and CEOs.
