Company History

Alter Moneta was launched in 1998 in Longueuil, Quebec, by Alain Savard, formerly chief financial officer of Bombardier Capital. Savard started his new company with a strong entrepreneurial instinct and a distinct vision of a nimble, people-centric organization. His primary objective was to create an enterprise that would one day become a leading provider of financing solutions in the North American mid-market commercial equipment finance market. Over time, Alter Moneta has gained distinct expertise in providing superior customer service on both sides of the Canadian/United States border through seamless service to companies with business in both nations.

The initial capital to establish Alter Moneta was provided by National Bank of Canada (NBC) and Caisse de dépôt et placement du Québec (Caisse), the largest institutional fund manager in Canada and one of Quebec’s leading financial institutions. In 2003, Alter Moneta purchased Concord Commercial, the equipment finance subsidiary of HSBC Bank USA, establishing a U.S. headquarters in Buffalo, New York, and gaining 43 U.S.-based employees. In 2007, Bear Stearns Merchant Banking (BSMB), a leading private equity firm, acquired a controlling interest in the company.

Today, Alter Moneta has an equipment finance portfolio of over $US 1 billion. Along with our headquarters in Longueuil, a suburb of Montréal, we maintain our Lutex vehicle leasing operation in a separate facility in greater Montréal and our U.S. equipment finance origination and customer service platform in Buffalo. 

A hallmark of our company’s success is our ability to recruit, retain, and develop people of the highest caliber. Alter Moneta currently has 117 employees and expects to double its numbers over the next five years.

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