Executive Team

Mark M. Caplan | Chairman

Mark Caplan is a Baltimore native active in equipment and vehicle financing as well as real estate investment and management in the region.  He is Chairman of Madison Capital, an independent vehicle and equipment financing firm he and his father, Caswell, founded in 1984. Mark is a member of the Board of Directors and Chair of the Compensation Committee at Bay Bank, a publicly traded community bank (NASDAQ symbol BYBK).

In addition to his financing activities, he is the President and CEO of The Time Group, a real estate equity firm where he has worked since the mid 1970s. The Time Group has interests in approximately 6,000 units of multi-family, manufactured housing, and senior living.  He is also a founder and is currently the Chairman of WPM Real Estate Management, a manager of multi-family properties as well as other property types currently comprising in excess of 17,000 units.


Nancy Pistorio | President

Nancy Pistorio is a Certified Lease and Finance Professional with over 25 years of experience in the lease finance industry.  As President, Nancy’s areas of responsibility include strategic planning, originations, marketing, syndications, and co-management of credit underwriting, documentation, and funding. Nancy began her career in the leasing industry over 25 years ago with Harbor Equipment Leasing. When Harbor Equipment Leasing and Fox Valley Vehicle Leasing merged in 1997 to form Madison Capital, Nancy became a partner and assumed the role of Vice President.  In 2017, she was named President of Madison Capital.

Nancy has served on the CLFP Foundation Board, the Equipment Leasing and Finance Association’s (ELFA) Small Ticket Business Council Steering Committee and its Fair Business Practices Committee, as well as many other leasing industry trade association boards and committees. From 2005-2007 she served as President of EAEL, now NEFA, and was a member of the NEFA 2010 Board of Directors.

Nancy has two sons and resides in Baltimore, Maryland.


Allan Levine | Partner

Allan Levine has over 40 years of experience in the vehicle and equipment lease-finance industry. In 1974, Allan started Fox Auto & Truck Discount Leasing Company and in 1987, the name changed to Fox Valley Leasing, which merged with Harbor Leasing to become Madison Capital in August of 1997. Allan served as Madison’s President until February 2017.

Allan has also been active in many community organizations serving as VP of The Jewish Community Center and Chairman of The Gordon Center, (a 550-seat boutique venue for the performing arts), and The Chimes, an international not-for-profit serving over 20000 individuals with development disabilities and employs more than 2300 employees. He has also served, at the board and committee levels of additional local philanthropic and community organizations. Allan is currently a trustee of The Maryland Zoo. It is the fourth largest Zoo in the U.S. Allan is a graduate of the University of Maryland where he played lacrosse.

Kandi Laufert, Madison Capital, CFO Kandi Laufert | Chief Financial Officer

Kandi Laufert is a Principal and Chief Financial Officer of Madison Capital where she is responsible for the management of all accounting functions. She prepares and analyzes the monthly and annual financial statements along with the supporting analyses summarizing and forecasting company business activity and financial position. She is responsible for ensuring compliance with all creditors’ requirements, lenders’ covenants and bank reporting.

In addition, Kandi oversees the coordination of the external audits and reviews by outside lenders and accountants.Kandi is a honors graduate of Florida Institute of Technology and obtained her CPA certification in 1992 after her first sitting. She resides with her husband and two children in Westminster, Maryland.