Norman W. Seip Award For Industry Excellence
The Norman W. Seip Award For Industry Excellence in the rail finance industry is named for Norman W. Seip who served the rail equipment industry for more than 65 years in both locomotive manufacture and equipment appraisal prior to his retirement in 2006. During his career, Norman worked with virtually every significant element in our industry and is well known not only for his equipment expertise, but for his honesty and ability to communicate. Norman is happily retired to homes in Florida and Pennsylvania and we look forward to his joining us for this year's presentation of the award named after him.
Desmond P. Hayes, 2009 Recipient
Desmond P. Hayes—2009 recipient of the Norman W. Seip Award—is President of Trean LLC.
Desmond has been one of the true giants of the Rail Leasing Industry for the past 30 years.
Highlights of his career include:
- 1988–1991 President, Itel Rail Leasing
- 1991–1996 President, USL Capital for Ford Motor Co.
- 1996–2003 President and Founder, Flex Leasing Corporation
- 2006–2009 President and Founder, All Capital Rail Management
Desmond created, built and managed Rail Equipment Portfolios that were known for their balance from a standpoint of equipment type, quality of credit, lease term and return on investment—all of the things that matter.
More than anything else his companies have been known for high quality, fairness and always putting the customer first. His teams have carried themselves with a high degree of character and integrity—striving for excellence.
One of the best measures of his success has been his ability to protect his investors’ interests. He was always able to sell the portfolios, if necessary!
Desmond is truly one of the best businessmen in our industry.
Rail Equipment Finance Chairman Tony Kruglinski presents the Norman W. Seip Award for Industry Excellence
to Desmond P. Hayes.