Appointment of the Sumisho Air Lease Executive Management Team

Peter Barrett, CEO of SMBC Aviation Capital and a future director of Sumisho Air Lease Corporation (Sumisho Air Lease), today announced, on behalf of co-investors Sumitomo Corporation, SMBC Aviation Capital, Apollo, and Brookfield, the appointment of the Sumisho Air Lease Executive Management Team, who will take up their roles on closure of the transaction to acquire Air Lease Corporation, which was announced last September and which, subject to receipt of required regulatory clearances, is set for completion in H1 of this year.*

The three-member Executive Management Team will consist of:

Chief Executive Officer, Noriyuki (Nori) Hiruta:

Nori is Chairman of SMBC Aviation Capital, a role he we appointed to in 2023. He has extensive financial and aviation experience having worked with Sumitomo Corporation for almost 40 years, including as General Manager of their Aircraft and Engine Leasing Department.

Chief Commercial Officer, David Swan:

David is Chief Operations and Sustainability Officer at SMBC Aviation Capital and brings with him over 30 years of aircraft finance and leasing experience, having held a range of senior leadership positions in SMBC Aviation Capital since 2002 and having served on the Board of the business since 2007. David has also established and served on the board of a number of aviation industry bodies and charities, driving innovation and progress through various initiatives.

Chief Financial Officer, Sabrina Lemmens:

Sabrina is a senior aviation executive with extensive finance and aircraft leasing experience, having joined Air Lease Corporation in 2011 where she currently serves as Senior Vice President and Financial Controller.

Peter Barrett, CEO of SMBC Aviation Capital, stated on behalf of the co-investor group:

“In September last year we announced our intention to acquire Air Lease Corporation in what is a transformational transaction for the business and the wider leasing landscape. The announcement today of an Executive Management Team is an important milestone as we move towards the closing of the transaction.

Strong leadership matters, and this group represents the ideal blend of experience, new thinking and continuity that will see Air Lease Corporation move towards a new and dynamic future as Sumisho Air Lease.”

On his appointment as CEO of Sumisho Air Lease, Nori Hiruta said:

“I am both honoured and delighted to be given the opportunity to lead the Sumisho Air Lease team as CEO at a time of huge change and opportunity in our industry.

This acquisition will take private one of the highest-quality leasing platforms in the sector, bringing it into the Sumitomo sphere of influence, to form a key pillar of what will be one of the world’s largest aviation finance eco-system.

As someone who has worked in finance and aviation in Sumitomo Corporation for many years, I greatly look forward to driving the evolution of the business and securing its long-term success.”

Chief Commercial Officer, David Swan stated:

“I am hugely excited to accept the role of Chief Commercial Officer in the Sumisho Air Lease Executive Management Team.

The extensive industry experience I have gained, and the relationships I have forged over the last 34 years, across many roles, especially in SMBC Aviation Capital, will assist in guiding the commercial future of Sumisho Air Lease. It also ensures, in conjunction with my management colleagues, that the servicing arrangements between both businesses will operate in a seamless manner for our customers.

Sumisho Air Lease is well placed for success and stands to benefit greatly from the enhanced scale, reach, and negotiating power afforded by the 1,700 aircraft, 179 active lessees and $92 billion of assets provided by the wider group.

I believe the combination of financial firepower, expertise and experience this deal is creating will lead to significant commercial opportunity.”

Chief Financial Officer, Sabrina Lemmens said:

“I am delighted to be appointed to the Sumisho Air Lease Executive Management Team, as Chief Financial Officer. The dynamic nature of this transaction and the depth and talent of our teams have positioned us for success both now and in the long-term.

In becoming part of one of the world’s leading integrated aviation platform, with the financial strength and market relevance that brings, Sumisho Air Lease is embarking on an exciting future in a market of opportunity. As CFO and a leader in the business I greatly look forward to embracing the change and opportunity that this deal represents.”

*The current Air Lease Corporation management team will remain until closure of the transaction. In connection with assuming their roles in Sumisho Air Lease, Noriyuki (Nori) Hiruta and David Swan will resign their positions of Chairman and Chief Operations and Sustainability Officer respectively, in SMBC Aviation Capital.