SANTA ROSA, Calif., Dec. 2, 2016 /PRNewswire/ -- Ygrene Energy Fund Inc. today announced that finance industry veteran Rocco Fabiano has been named President and Chief Executive Officer. Fabiano, who joined Ygrene as president in October, will assume the CEO position as Stacey Lawson steps up to Executive Vice Chairman, where she will oversee key strategic initiatives.
A 30+ year finance executive, Fabiano brings a wealth of operational expertise in consumer finance and banking. He previously founded three financial services firms, including ACC Consumer Finance and Consumer Portfolio Services, both of which he took public. Following the acquisition of ACC Consumer Finance by Household International (now HSBC North America), Fabiano was named Group Executive of Household International/HSBC where he oversaw four subsidiaries responsible for $35 billion in assets and $650 million per year in after-tax profits, including the private label credit card business, insurance operations, tax-related lending and automotive finance. He has served as a key advisor to many of the nation's largest private equity firms, and was honored as a 1997 Ernst & Young/NASDAQ Entrepreneur of the Year.
"This is an incredible time to join Ygrene, which recently achieved the industry's first AAA-rated PACE securitization, a critical validation and tipping point for PACE," said Fabiano. "Now, as I work closely with Stacey and the Ygrene team, we're in an enviable market position in which we are poised to scale quickly to serve demand from across the nation, offering the gold standard for innovative clean energy finance offerings today."
Prior to joining Ygrene, Fabiano served as President of Retail Solutions at publicly-held Qualcomm, Inc. and led the carve-out of Gimbal Solutions from Qualcomm before serving as Gimbal's President, CEO and Chairman.
"Rocco is exactly the right leader to grow Ygrene to the next level," said Lawson. "He has the rare combination of expertise in both large and entrepreneurial environments and a proven track record of scaling financial enterprises which will be a powerful force for Ygrene in our continued growth and national expansion. I'm thrilled to welcome Rocco to the CEO post."
Dennis Hunter, Ygrene's founder and Chairman added, "We share the same vision for Ygrene—to build and grow Ygrene's leadership position in the PACE market—and we're pleased to be entering this next phase of growth with Rocco."
About Ygrene Energy Fund
Ygrene Energy Fund is the nation's leading provider of residential, multifamily and commercial property assessed clean energy financing. The award-winning, privately funded YgreneWorks program provides immediately accessible financing with no upfront payments for energy efficiency, renewables, water conservation, and, in certain areas, hurricane protection, electric vehicle charging stations and seismic upgrades. Ygrene is committed to making it easy for property owners to invest in their future and a healthier environment. Over the next five years, YgreneWorks is expected to create tens of thousands of jobs and invest billions of dollars into local economies. Learn more at ygreneworks.com.
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SOURCE Ygrene Energy Fund Inc.