ESQUIRE FINANCIAL HOLDINGS, INC. EXPANDS NATIONAL FOOTPRINT WITH THE HIRING OF SIX REGIONAL BUSINESS DEVELOPMENT OFFICERS

Rhea-AI Summary

Esquire Financial Holdings has expanded its litigation vertical by hiring six Managing Directors and senior business development officers. These hires, with decades of experience and industry connections, will support Esquire's continued expansion. The company's decision to expand is supported by its advanced technology and data, as well as a Total Addressable Market of $443 billion in litigation settlements annually. Esquire plans to invest in resources regionally to support growth and client service.

Positive

• Esquire Financial Holdings has hired six Managing Directors and senior business development officers to enhance its litigation vertical and support its expansion. These hires have decades of experience and industry connections, which will contribute to Esquire's growth prospects. The company's decision to expand is supported by a Total Addressable Market of $443 billion in litigation settlements annually, providing a significant market opportunity for growth. Esquire's unique customer-centric business model and competitive advantages in data, analytics, and digital marketing give it the confidence to invest in resources regionally to support growth and excellence in client service.

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JERICHO, N.Y., July 18, 2023 /PRNewswire/ -- Esquire Financial Holdings, Inc. (NASDAQ: ESQ) the holding company for Esquire Bank, National Association (collectively "Esquire"), announced today that it has enhanced its litigation vertical in key regions nationwide through the hiring of six Managing Directors and senior business development officers ("BDOs") with the direct assistance of Korn Ferry, a premier global executive search firm.  These BDOs have decades of experience servicing the litigation market and deep industry connections to support Esquire's continued expansion. The following senior BDOs will directly support each of Esquire's newly defined regions:

• Kevin Donahue – Southern Region
• Raul Guisado – West Coast Region
• Jennifer Janof – Mid-Atlantic Region
• Gina Mallicoat – Southwest Region
• Eric Thompson – North Region
• Joshua Vause – Southeast Region

"Coupling these talented and seasoned senior BDOs with our proprietary CRM platform and digital marketing capabilities will enhance our current national footprint and future growth prospects," stated Andrew C. Sagliocca, Vice Chairman, Chief Executive Officer, and President of Esquire. "Each senior BDO has decades of experience and a proven track record of servicing law firms in their region.  Gaining access to the best talent was critical for the next phase of our growth."

The decision to continue expanding our national footprint was supported by our advanced technology, data, and analytics on a Total Addressable Market ("TAM") of $443 billion in litigation settlements annually across 50,000 plaintiff law firms. This TAM represents a significant market opportunity for Esquire's continued growth and expansion of its core customer relationships. 

"Esquire has proven that its unique customer-centric branchless business model has been resilient throughout challenging macroeconomic and current banking conditions. The runway for increasing market share given our TAM is significant, and this coupled with our competitive advantages in data, analytics and digital marketing, has given us the confidence to invest in resources regionally to support growth and excellence in client service," stated Ari P. Kornhaber, Executive Vice President and Head of Corporate Development. 

Esquire has also hired resources within its commercial underwriting/lending, sales support, and operational areas to support these regional BDOs and its future growth.

About Esquire Financial Holdings, Inc.

Esquire Financial Holdings, Inc. is a financial holding company headquartered in Jericho, New York, with one branch office in Jericho, New York and an administrative office in Boca Raton, Florida. Its wholly owned subsidiary, Esquire Bank, National Association, is a full-service commercial bank dedicated to serving the financial needs of the legal industry and small businesses nationally, as well as commercial and retail customers in the New York metropolitan area. The bank offers tailored products and solutions to the legal community and their clients as well as dynamic and flexible payment processing solutions to small business owners. For more information, visit www.esquirebank.com.

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SOURCE Esquire Financial Holdings, Inc.

FAQ

What is Esquire Financial Holdings expanding?

Esquire Financial Holdings is expanding its litigation vertical.

How many Managing Directors and senior business development officers did Esquire hire?

Esquire has hired six Managing Directors and senior business development officers.

What is the Total Addressable Market for Esquire?

The Total Addressable Market for Esquire is $443 billion in litigation settlements annually.

What are Esquire's competitive advantages?

Esquire has competitive advantages in data, analytics, and digital marketing.