Third Eye Capital, a Toronto-based investor in privately-negotiated secured loans, has named Algis Vaitonis as its new senior vice president and head of operations.
Vaitonis brings with him more than 20 years of lending and risk management experience, serving most recently as chief credit officer at CIT Group in Canada where he was charged with full responsibility and oversight for all credit and collections operations.
“In the current credit environment, lenders have fewer exit options and are faced with more complex workout situations when their borrowers fall into trouble”, says Arif N. Bhalwani, managing director at Third Eye Capital. “Algis has a thorough knowledge of the specialty lending business with deep experience in managing high yield transactions within a multitude of industries. He will be a valuable addition to our team as we grow assets and expand our suite of lending products.”
Vaitonis’ experience includes more than 11 years in senior corporate banking, special accounts management and risk review at Bank of Montreal, and nine years at CIT Group in both New York and Toronto.
