Ygrene Adds HSBC, ACC Consumer Finance Veteran Tim Condon as Chief Financial Officer
May 8, 2017
Capital markets expert and seasoned financial executive joins leadership team
PETALUMA, CA --Ygrene Energy Fund, a leading national provider of PACE (property assessed clean energy) financing, announced today that Tim Condon has joined the company’s leadership team as Chief Financial Officer.
An experienced business executive and entrepreneur, Condon has more than 30 years of consumer finance experience in both multi-national companies and innovative start-ups. Most recently, he was the co-founder and CFO of Pacific Point Services and prior to that he founded LEAP Financial, a start-up focused on the auto loan industry. Condon will report to Ygrene President and CEO Rocco Fabiano, with whom he worked in previous capacities, including ACC Consumer Finance and HSBC North America (formerly Household International).
“Tim has a deep understanding of the capital markets, having overseen more than $20 billion in asset-backed securities issuance,” Fabiano said. “His finance and accounting proficiency, combined with his general management expertise, will help further develop Ygrene’s financing platform. We are very pleased to welcome Tim to Ygrene’s executive team.”
Condon held various financial management roles throughout his 14 years at HSBC North America, including seven years as CFO for auto finance. In this role, he worked alongside Fabiano to build the business from a $300 million portfolio to $12 billion. “I am excited to be a part of the Ygrene team in this important, emerging industry. The company’s mission to provide accessible and affordable financing to support public policy initiatives, including the advance of clean energy and storm resiliency solutions, is both rewarding and challenging,” Condon said. “Bringing private capital to invest in communities and create local jobs, all at no cost to taxpayers, is a complicated business. However, I believe Ygrene has the right people in place to meet these challenges.”
Condon began his career as CPA at Price Waterhouse Coopers and later held a variety of financial management roles at Bally Corporation and Marriott Corporation. He earned his MBA at DePaul University and a B.S. in Accounting from the University of Illinois.
Ygrene announced in April of 2017 the pricing of a $176.5 million securitization rated AAA/A and AA/A rating by Morningstar and Kroll, respectively—the company’s second public securitization and fourth overall.
About Ygrene Energy Fund
Ygrene Energy Fund is a leading national provider of residential, multifamily and commercial property assessed clean energy financing. The award-winning, privately-funded YgreneWorks program provides financing for energy efficiency, renewables and water conservation as well as, 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 in a healthier environment. The YgreneWorks program creates jobs by investing in local communities and enabling state governments to achieve policy objectives. Learn more at ygreneworks.com.
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