A BB&T unit that finances power equipment has a new president.

Sheffield Financial in Clemmons, N.C., said in a press release Monday that Jeff Ellison had succeeded Jack Snow, who remains the unit's chief executive. Ellison, 53, took over his new role in June, according to his LinkedIn profile.

Sheffield serves more than 30,000 outdoor power equipment, power sports and trailer dealers nationwide. Snow founded the business in 1992 and sold it to the $222 billion-asset BB&T, of Winston-Salem, N.C., in 1998.

Ellison previously served as president of BB&T's mortgage warehouse lending division.

"We just got so big that I needed some help because I can't be in 40 places at one time," Snow said in the release, noting that Sheffield has funded more than $16 billion in loans since its creation.

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