Executive Team

Ricardo has been active in the equipment finance industry in the Continental United States and Puerto Rico for more than 40 years. Ricardo started his career in 1982 as a management trainee in the commercial asset-based business of The Associates. He continued rotating through various management positions, gaining experience in all the areas the business (portfolio management, risk, operations, sales, and marketing). In 1996, Ricardo started the commercial operations in Puerto Rico for Associates First Capital Corporation and served as President, leading its growth and the eventual sale and transition of The Associates into CitiCapital in 2000. As President & CEO, Ricardo “leads by example” by overseeing the company's organizational structure and strategy, while driving profitability and portfolio performance with passion.

Guillermo has over 20 years of experience in the commercial and construction equipment finance industry in Puerto Rico. He has been in the asset-based finance industry since 1997, when he was recruited by Citibank as a Resident Vice President. During that time, accumulating a wealth of knowledge in sales & business development, collections, remedial management, and Vendor/Manufacturer relationship management. In 2000, he was named District Account Manager for the newly-created CitiCapital operation in PR and, in 2005, was promoted to Vice President of Sales, reporting directly to Ricardo Rios. While at CitiCapital, Guillermo was responsible for the relationships with over 200 Puerto Rico and USVI clients. When GE Capital acquired CitiCapital, he was named Vice President of Sales for GE Capital until 2009. Mr. Pérez has developed strong ties to the industry and has a track record of achieving revenue, profit, and market penetration objectives. At CEFI, Guillermo oversees PR business development, expansion and leads CEFI’s Puerto Rico sales team.

Ricardo earned a BSBA from Boston University with concentrations in Finance and Accounting. Upon graduating, Ricardo joined Banco Popular of Puerto Rico’s Management Trainee Program and thereafter the bank’s Investment Management Consulting Group. Ricardo joined CEFI in 2012 and in 2017 became CEFI’s COO. Ricardo chaired the ELFA Independent Steering Council Committee from 2019-2021 and has actively participated in the association in different roles since 2017, in support of the commercial equipment finance industry. As COO, Ricardo oversees the daily operations and, alongside CEFI’s Management Team, is focused on developing dynamic culture and executing strategies to enhance employee and customer value.

Elsa has over 20 years of experience in public accounting and taxes. Ms. Bandas graduated from University of Puerto Rico and holds a bachelor’s degree in Business Administration with concentration in Accounting. She has been with CEFI since its 2009 inception. Previously, Ms. Bandas held positions at FirstBank as Assistant Comptroller and at Price Waterhouse as a Tax Consultant. Elsa is responsible for overall financial management of the company, its financial reporting and multiple corporate functions including Accounting, Budget, Taxes, Investment Accounts, Human Resources, and building a culture surrounding teamwork and excellence.

Gary joined Commercial Equipment Financing, Inc. (CEFI) as Vice President of Business Development and Sales in 2023. As a 35-year veteran of the equipment finance industry, he has held senior sales and leadership positions with both large bank-owned lessors, as well as independent and captive financing companies. Prior to joining CEFI, Gary held the position of vice president of sales and syndication at LCA Bank and senior vice president and managing director at Sterling Bank Equipment Finance. He has significant experience in small-ticket vendor, middle-market direct origination and captive finance programs in a wide variety of industries. Gary holds the Certified Lease & Finance Professional (CLFP) designation.

Omar has over 20 years of Corporate and Retail Banking Experience (SBDTC, Western Bank, RG Premier Bank, Scotia Bank and BNCI) involved in several facets of the business (origination, closing, underwriting, credit monitoring, policies, and compliance). Omar joined CEFI 2020 and oversees daily underwriting and risk management and has an active role in implementing efficiencies that result in better execution of the daily credit and risk functions at CEFI consistently empowering the team he leads.