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Management Bios |
 Mary KariotisPresident and CEO  Mary entered the leasing industry in 1984, beginning her leasing career as an account executive with US Leasing. She worked also for CIS, Chrysler, and GE Capital before joining Merrimak in 1995. A consistent hallmark of her career has been her ability to develop new secondary markets through her lease origination efforts. Mary launched Merrimak’s equipment leasing division in 1996, building on the company’s foundation as a successful brokerage house for used equipment. Under her leadership, Merrimak has experienced exponential growth. The company continues to create strong secondary markets for an array of asset types and maintains a pristine portfolio of investment-grade and middle-market accounts. Mary keeps the company's overhead lean and its priority clear: delivering premium customer service. This approach has enabled Merrimak to maintain its impressive customer retention rate and to continue to grow in a market where so many other independent leasing companies have failed. In 2009, Merrimak was restructured as a woman-owned company and awarded WBENC certification , with Mary at the helm as president and CEO. Mary received a BA in political economics from the University of California, Berkeley. |
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 Michael KariotisFounder and Vice President Michael founded Merrimak Capital Company in 1991 with a focus on equipment refurbishment, recycling, and reselling. As Merrimak has grown to be a highly successful, full-service equipment lessor, originating over a billion dollars of equipment assets, the company has expanded its refurbishment and recycling services to support the resale of off-lease equipment. Michael has a distinct talent for identifying remarketing channels for every type of asset, maximizing return and bringing to every transaction a “can do” approach. He has established strong remarketing channels to maximize returns on off-lease equipment, enabling the company to take sensible and aggressive residual positions in leased equipment. Along with the channels Michael created for equipment remarketing, he established channels for equipment disposal and recycling, sustaining the lives of every asset down to its component level and employing “best practices” for green recycling. Recognizing our customers’ need for transparency and end-of-term management, Michael led the company’s efforts to create a documentation group for tracking assets from “cradle to grave.” The outcome was a comprehensive, web-based asset-tracking software, iTrack – providing full disclosure and asset management for all Merrimak customers. Michael continues to oversee and improve the documentation process to meet the ever-evolving needs of the banking industry. Under his direction, Merrimak continues to operate its own refurbishment centers, distinguishing the company as one of the industry’s few full-service lessors. Michael received a BS in electrical engineering from Cornell University. |
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Eddie Pun Vice President of Finance Eddie has over 15 years of experience in the equipment leasing industry, including 10 years in controller positions with Oliver-Allen Corporation and its successor, US Bancorp. He joined Merrimak in 2006, overseeing the company’s accounting and financial operations and managing its Certified Public Accountants and finance group, which reports directly to him. Eddie’s primary responsibility is to ensure that Merrimak is always in compliance with its banking covenants and that the company delivers transparent and accurate lease accounting to its customers. Eddie received a BS in business administration from the University of California, Berkeley. He has served as treasurer and board member of Big Brothers and Big Sisters of San Francisco. |
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Timothy Schmuker
Senior Vice President Capital Markets and Syndications Tim joined Merrimak in 2010, bringing to his leadership role 27 years experience in the equipment leasing industry. He is responsible for developing and managing bank and investor relationships to fund lease transactions; supporting the sales department in reviewing, pricing, and structuring transactions; and managing all lease and funding document negotiations. Tim’s experience includes credit, operations, and syndications, with a focus on selling or purchasing leases and portfolios of leases. He has worked with a number of independent and bank lessors including Beacon Funding Corporation, IFC Credit Corporation, Sanwa Business Credit Corporation, IFA Bank of Scotland, Borg Warner Acceptance Corp. and Leasemark, Inc. Playing a vital role in these companies, Tim sought out new funding relationships, developed innovative funding products, and successfully generated fee income or lease acquisition volume. Tim received a BA in finance from the University of Illinois at Urbana-Champaign. |
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Marsha Quinn
Vice President, Business Development Marsha began her career with Pacific Gas and Electric Company, first with its newly formed Energy Conservation Department and then with its Customer Care management team. She joined Merrimak in 1997, with a focus on business development – establishing strategic accounts that are still retained by Merrimak today. Marsha is responsible for managing the business development team and its servicing of Merrimak’s accounts. Along with supporting the company’s lease origination efforts, she has been instrumental in enhancing Merrimak’s administrative processes, deepening its focus on customer service, and achieving unprecedented customer retention rates. Marsha attended University of the Pacific and received a BS in speech pathology and audiology from San Diego State University. |
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Brian Carney Director of Equipment Remarketing Brian began his career as a systems and network consultant, redesigning and implementing in-place hardware and managing a help desk for technical problems. He joined Merrimak in 2005, managing the refurbishment and resale process for the company’s off-lease information technology (IT) equipment. Using Merrimak’s best practices in remarketing, Brian has evolved with Merrimak’s expansive and diverse portfolio, leading the company’s remarketing team to maximize its returns on off-lease equipment, from IT and materials handling, machine tools, medical equipment to fleet. Devoted to sustainability, Brian has leveraged the most efficient and best practices for “green” recycling. He continuously identifies new channels for equipment disposal, maximizes the remaining values, and brings assets back to their original forms – with a continuous focus on true recycling and keeping all waste from landfills and developing countries. |
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