Lawrence G. Hund
H-D announced the hire (or is it re-hire?) of Lawrence G. Hund as President and Chief Operating Officer (COO) of Harley-Davidson Financial Services, Inc. (HDFS), effective June 29. HDFS is a wholly owned subsidiary of H-D and provides wholesale financing to dealers and retail financing to customers.
Mr. Hund comes from Tygris Commercial Finance Group, Inc. where he worked the last 8 months as its Chief Financial Officer (CFO). Yes, you read that correct — EIGHT months! With over 25 years in the commercial finance industry, Mr. Hund oversaw Tygris’ treasury, accounting, tax, planning and analysis and financial operations. The company was founded in 2008 and from background research it reads as if the company was on a hiring binge of executive talent for much of last year with specialist’s in asset based credit facilities, turnaround and bankruptcy/exit financing to mid-market companies. In addition, Mr. Hund was hired at Tygris after only 11 months as CFO of Bridge Finance Group. Rotating through two CFO positions in less than 19 months may not mean anything other than validation of the malaise in the credit markets. Both companies were deep in the banking and commercial finance sector and served the automotive industries. Lastly, Mr. Hund was CFO of HDFS from 2002 to 2007 and it’s likely he was either instrumental to the negative asset quality/performance or deeply involved in setting financial strategies which accounted for over $3 Billion in debt at HDFS and nearly $1 Billion of debt at HOG at the start of 2009.
The lingering issues with the credit market and the recessionary economy will continue to haunt HDFS. Let’s hope that Mr. Hund can create a leading commercial finance franchise and avoid using any of his bankruptcy skills!
Photo courtesy of Tygris.
How about more articles about actual riding and biker news and less about Wallstreet. Not all of us wear suits and play the stock market. There are alot of blue collar guys out there who want to read and discuss biker lifestyle and outlaw topics and not so much the business section of the daily news. We use that section to catch oil drips and start bonfires. Guys like us live hand to mouth and own little more than our bikes, a few guns and mabye a car to transport our tools to the jobsite. Everything else goes to our kids and their happiness. Good biker dads keep their bikes running and their kids smiling. Corporate Harley doesnt interest me. My idea of a savings account is a Zepherhills water cooler jug full of change. I know I’m not the only one. Can I get some backup here? I still love you mac and will always read your blogs. Be safe on the road.
😦 hmmm…definitely a situation to watch carefully.
@ Mark – great points! For some reason the last week has been more on corp/marketing and less about rides. It comes in spurts. But it’s changing… Headed east in a few hours with a bed roll and tent strapped to the bike. I’m more of a Motel 6 than tent person so this will be an interesting change up.
-mac
have a great ride and enjoy!!!
[…] previously blogged about Mr. Hund back in 2009 when H-D re-hired him HERE. He returned to Harley-Davidson from Tygris Commercial Finance Group, Inc. where he worked only […]