ANNAPOLIS, Md.--(BUSINESS WIRE)--Hannon Armstrong Sustainable Infrastructure Capital, Inc. (NYSE: HASI), a capital provider focused on sustainable infrastructure markets that address climate change, today announced organizational changes in its finance leadership effective March 1, 2019.
Brendan Herron will remain as an executive vice president and take on an expanded leadership role focusing on Hannon Armstrong’s strategic growth initiatives, with a particular emphasis on the Company’s expanded joint venture platforms.
“Brendan has done an outstanding job as our Chief Financial Officer. Having originated the idea and strategy for taking the Company public, his leadership enabled a successful $167 million IPO in 2013 and growth to our current $1.4 billion market cap. He has been instrumental in the evolution of our business during this period of transformative changes in the electric power sector,” said Jeffrey Eckel, Hannon Armstrong President & CEO. “And those changes are leading to new strategic opportunities including our joint venture arrangements like the announced Hannon Armstrong Sustainable Real Estate and SunStrong arrangements, which expand our origination reach, but also require more strategic and entrepreneurial skills in addition to transactional skills. These are some of Brendan’s strengths, and his contributions to our strategic initiatives will be an integral part of our continued growth and success.”
Succeeding Mr. Herron will be Jeffrey A. Lipson, a 30-year veteran of the finance and banking industry who has held multiple leadership roles in banking and treasury. Mr. Lipson joined Hannon Armstrong in January 2019 as the Deputy Chief Financial Officer. Previously, Mr. Lipson served as Chief Executive Officer of Congressional Bank. He has also served as Senior Vice President and Treasurer of CapitalSource and Senior Vice President of Corporate Treasury at Bank of America and its predecessor FleetBoston Financial.
“I am delighted to welcome Jeff Lipson to Hannon Armstrong,” said Mr. Eckel. “This is the perfect time to add to our finance team as we are building an exciting and important business and Jeff brings first-class banking, corporate finance and treasury skills, which will enhance our ability to grow.”
“Adding Jeff’s skills to our team, further strengthens our management team and I am excited to work with him,” said Brendan Herron. “With Jeff onboard, I will be able to focus on how Hannon Armstrong captures the enormous opportunity to finance climate change solutions.”
“I am elated to join Hannon Armstrong,” said Mr. Lipson. “The Company’s leadership, intellect, and strategy provide a tremendous opportunity to build upon the success that Jeff, Brendan and the team have achieved; and I look forward to succeeding Brendan as CFO as we work together to expand the business.”
About Hannon Armstrong
Hannon Armstrong (NYSE: HASI) focuses on solutions that reduce carbon emissions and increase resilience to climate change by providing capital and specialized expertise to the leading companies in the energy efficiency, renewable energy and other sustainable infrastructure markets. Our goal is to generate attractive returns for our shareholders by investing in a diversified portfolio of assets and projects that generate long-term, recurring and predictable cash flows or cost savings from proven commercial technologies. Hannon Armstrong is proud to be the first U.S. public company exclusively focused on financing solutions to climate change. We are based in Annapolis, Md. For more information, please visit www.hannonarmstrong.com. Follow Hannon Armstrong on LinkedIn and Twitter @HannonArmstrong.
