Phil Wellington says he is riding a surge of excitement as he steps into his new role as Regional Finance Director for Motor Coach Industries (MCI), a position held for the past 11 years by the retiring Dave Johnson.
Making his debut at the UMA Motorcoach EXPO this week, Wellington is dedicating his time to meeting customers and sharing the story of his career journey.
In a Q&A with Bus & Motorcoach News, Wellington reflected on the diverse lending experiences he has had, from independently financing a wide range of assets, including heavy collateral and high-tech equipment, to taking on positions at captive truck lenders and bank-owned financial institutions.
Bus & Motorcoach News: Your career in finance has led you to the bus and motorcoach industry, a field known for its strong relationships and deep-rooted community. Can you share a bit about your background—what led you to finance, and how did you find your way into this industry?
Phil Wellington: My college courses in finance really piqued my interest in pursuing it as a career. Once out of college, I got my start in the industry at an independent lender, financing all types of equipment from heavy collateral to computers and software, restaurant equipment, and even modular buildings. As I moved through my career, I took on roles with a captive truck lender and a bank-owned lender. I was introduced to the motorcoach industry through my time at Edson Financial/Grech Motors, where I first met the MCI team and, specifically, Tony Pederson and Dave Johnson.
BMN: Vehicle finance plays a crucial role in keeping businesses moving, and MCI has long been a leader in the motorcoach sector. What excites you most about working in vehicle finance, and what drew you to join MCI?
PW: My excitement for vehicle finance comes from two parts. First, working with the operators in the industry, learning their business, their history, and helping them obtain the financing they need to run and grow their business. The second is the analysis associated with the financing. I enjoy getting a deep understanding of the customer’s business, how the business has performed to this point, and where the new financing can take them.
I was drawn to join MCI because of the people and the chance to be a part of this team. I really enjoyed working with Tony and Dave in my prior roles and was impressed by the people I interacted with at the organization. I knew that with Dave having over a decade in this role, this was a great opportunity with a great company, and the chance to join MCI in financial services might not be available for another decade.
BMN: Stepping into a role previously held by someone with so much experience can be both an opportunity and a challenge. How has the transition been working alongside Dave Johnson, and what lessons have you taken from him?
PW: Dave Johnson has been terrific. He has graciously taken me under his wing to show me the ins and outs of the day-to-day, while warmly introducing me to everyone we have interacted with during this transition. The lessons I will take away from Dave are the way he handles himself with everyone he encounters – being kind, helpful, pleasant and capable – to hopefully build the same longevity and respect Dave has attained.
BMN: The UMA Motorcoach EXPO is a key industry event, bringing together operators, manufacturers, and finance experts from across the country. As you attend your first EXPO in this role, what are you most looking forward to?
PW: For my first UMA Motorcoach EXPO with MCI, I’m most looking forward to being at the MCI booth as part of the team and having the chance to meet all the people in the industry that we interact with. I look forward to putting faces with names and introducing myself as part of the MCI team.
BMN: People always enjoy learning about the person behind the professional role. When you’re not working, what do you enjoy doing in your free time? And what’s something people might be surprised to learn about you?
PW: As a father of three kids, free time really isn’t my free time. I thoroughly enjoy spending time with my family, particularly with my kids’ activities and sports. I coach my two oldest kids’ flag football teams and help out at baseball and softball. I also like taking the family to relaxing vacations in warm locations. Something surprising about me is that I love to cook. I’ll have a great meal at a restaurant and think, “I can do that.” I’ll go home and make it. Sometimes better.
