The History of Nassau Asset Management
In 1974 Peter Castagna was an early leasing entrepreneur and pioneer. His company
Hastings Capital was formed. His main business was developing vendor relationships
and financing equipment purchases for credit worthy lessees. Hastings' sales force
called on vendors and manufacturers spanning multiple asset classes including
aircraft, construction, medical, woodworking, and everything in between.
Hastings became an originator for various banks and their leasing subsidiaries. The company went
public and business was growing until December 19th, 1980. That was the day interest rates rose to
21.50%. High interest drove potential lessees away from leasing.
Hastings board decided to take the company private and to run off existing portfolios. As the portfolios
wound down Peter managed operations by collecting delinquent accounts, coordinating repossessions, remarketing,
negotiating end of term deals, and collecting deficiency balances.
As his portfolio and workload slowed down Peter returned to his contacts in the banking community. This time
instead of marketing lease paper he called offering effective portfolio management skills and services he
developed for his own needs. Leasing was still in its early stages and he found himself and his skills in demand.
In 1986 Nassau Asset Management was born.
Peter's oldest children grew up watching their father's transformation from being a lessor to becoming a service
provider to the leasing and finance industry. After college Denise and Edward decided to join the company. With
strong business guidance from the founder the sibling's ambitious energy was channeled in the right direction.
Nassau, a contemporary company continues to grow and thrive by applying 21st century technology to a proven
basic formula. The combination makes Nassau a wonderful company to work for and a proven producer for hundreds
of clients who rely on them.
"We're only as good as our people." Nassau boasts long term employee retention. Our management team
employment tenure average is currently 14 years.
Nassau has grown from a one man operation with one location to a 160 location national organization. Nassau Headquarters is
located just 20 miles East of New York City in Westbury, NY. The collection division is located in Wrentham Massachusetts.
Nassau has developed thousands of long term solid relationships with Lenders and equipment buyers alike. All
relationships are built on solid hard working experience, fairness, integrity, and performance. We call
it "The Nassau Way."
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Serving the ELFA
for over 20 years. |
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