Signature Bank Appoints Five Private Client Banking Teams and Names Group Director to Existing Team Throughout the Metropolitan New York Marketplace

Rhea-AI Summary

Signature Bank (SBNY) has appointed five private client banking teams throughout the New York metropolitan area, enhancing its leadership with experienced professionals from institutions like Citibank and JPMorgan Chase. John Madigan leads a new team in Melville, NY, with colleagues bringing decades of banking expertise. The strategic move aims to strengthen client relationships and expand the bank's footprint in the region, following its 21 years of operation. With assets of $121.85 billion as of March 31, 2022, Signature Bank continues to focus on a relationship-based banking model.

Positive

• Appointment of experienced banking teams from Citibank and JPMorgan Chase strengthens client relationships.
• Expansion of private client banking teams enhances market presence in New York metropolitan area.
• Leadership by seasoned professionals is expected to drive growth and client satisfaction.

Negative

• Potential concerns about continuity and experience gaps given the new team dynamics.
• -

NEW YORK--(BUSINESS WIRE)--

Signature Bank (Nasdaq: SBNY), a New York-based, full-service commercial bank, announced today the appointment of five private client banking teams throughout the metropolitan New York area as well as a group director assigned to an existing team.

John Madigan was named Managing Group Director, leading a team of six, all of whom joined from Citibank. Madigan formerly was Managing Director for Long Island in the Emerging Corporates Group in Hauppauge, Long Island, N.Y., where he managed a large portfolio of business clients and a team of eight. He began his career there and went on to serve in various roles of increasing responsibility over three decades.

Joining Madigan’s team, based in Melville, Long Island, N.Y., are several professionals who were named Group Director and Senior Vice President. This includes Lou Bidalis, Keith Engley and Steven Schramm, all of whom served as Relationship Manager and Vice President in their most recent role at their prior institution. They have many decades of collective experience developing and overseeing commercial banking client relationships. Keith Novitz, also named Group Director and Senior Vice President at the Bank, most recently served as Senior Vice President of the commercial bank at his prior institution. He spent the majority of his 30-year career also developing and managing a corporate client portfolio. Vicky Moore joined the team as Senior Client Associate after having spent 20 years in various roles with her previous employer.

Tamra Postiglione, named Group Director and Senior Vice President, and Candice Singer, Associate Group Director and Vice President, both join Signature Bank’s private client banking office in Garden City, Long Island, N.Y. They worked together at M&T Bank in Melville where Postiglione was a Senior Vice President and Senior Relationship manager for 17 years, and Singer was Senior Vice President and Relationship Manager for nearly 10. Each bring nearly three decades of banking and financial services experience where they developed and managed a large portfolio of well-established middle-market and not-for-profit clients. Joining the team is Vanessa Amendola as Senior Client Associate. She too previously worked with the team, serving as Assistant Vice President, Portfolio Manager/Commercial Relationship Associate, at their former institution.

Leading another team in Garden City is Gary Raisig named Group Director and Senior Vice President. Supporting Raisig is Scott Achtziger also appointed Group Director and Senior Vice President. Both join from Capital One in Melville where they worked together for nearly a decade and were Directors and Senior Vice Presidents. Raisig brings 16 years of banking experience to his new role while Achtziger brings nearly 20. Raisig managed a portfolio of middle-market clients across diversified industries throughout Long Island and Queens. Achtziger covered a diverse portfolio of business banking clients across the metropolitan New York area. Signature Bank marks the third institution where Raisig and Achtziger work together.

Sergio Orellana and Jason Volges were each appointed Group Director and Senior Vice President, also based in the Garden City office. Orellana and Volges, who will co-head their new team, worked together for eight years at JPMorgan Chase & Co., in Melville, each serving as Commercial Banker and Vice President in the Middle Market and Specialized Industries segment at the institution. Orellana and Volges spent 17 and 15 years, respectively, there.

Based at the Bank’s Long Island City private client banking office in Queens, N.Y. are Usha Balrup and Namia Sultana-Ball. Each were named Group Director and Vice President, joining from Dime Community Bank where they previously worked together. Balrup, with 25 years of banking experience, was a Vice President and Private Banker for the New York City area where she provided solutions and services to both retail and business clients. Sultana-Ball brings a decade of banking and financial services expertise to her new role. Prior to joining the Bank, she was Vice President – Senior Private Banker at her former institution, where she serviced commercial real estate and commercial and industrial (C&I) clients throughout New York City.

Concurrent with the appointment of these new teams, Signature Bank also named Timothy Juliano Group Director and Senior Vice President, joining one of the Bank’s existing teams in Melville led by Group Director Thomas Rogers. Juliano also joins from Dime Community Bank in Melville where he was a Senior Vice President and Group Leader, managing a team of relationship managers within the middle market group. Juliano, a seasoned banker with 33 years of experience, brings deep experience in working with construction contractors, among other industries.

“We continue to emphasize our relationship-based banking model across our growing national banking enterprise. The success of this model is based on our proven abilities to attract veteran bankers who join as teams and serve as the united single point of contact for our clients. In the case of these New York-area teams, they have all worked together in the past and bring their cohesive relationships and extensive experience to Signature Bank. The addition of these highly experienced professionals allows us to expand our founding footprint throughout metro New York, where we initially planted our roots 21 years ago. We look forward to the client relationships these teams will forge and the contributions they will make,” said Joseph J. DePaolo, Co-founder, President and Chief Executive Officer at Signature Bank.

About Signature Bank

Signature Bank (Nasdaq: SBNY), member FDIC, is a New York-based, full-service commercial bank with 38 private client offices throughout the metropolitan New York area, as well as those in Connecticut, California and North Carolina. Through its single-point-of-contact approach, the Bank’s private client banking teams primarily serve the needs of privately owned businesses, their owners and senior managers.

The Bank has two wholly owned subsidiaries: Signature Financial, LLC, provides equipment finance and leasing; and, Signature Securities Group Corporation, a licensed broker-dealer, investment adviser and member FINRA/SIPC, offers investment, brokerage, asset management and insurance products and services.

Since commencing operations in May 2001, Signature Bank reached $121.85 billion in assets and $109.16 billion in deposits as of March 31, 2022. Signature Bank placed 19^th on S&P Global’s list of the largest banks in the U.S., based on deposits at year-end 2021.

Signature Bank was the first FDIC-insured bank to launch a blockchain-based digital payments platform. Signet™ allows commercial clients to make real-time payments in U.S. dollars, 24/7/365 and was also the first solution to be approved for use by the NYS Department of Financial Services.

For more information, please visit https://www.signatureny.com.

This press release and oral statements made from time to time by our representatives contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. You should not place undue reliance on those statements because they are subject to numerous risks and uncertainties relating to our operations and business environment, all of which are difficult to predict and may be beyond our control. Forward-looking statements include information concerning our expectations regarding future results, interest rates and the interest rate environment, loan and deposit growth, loan performance, operations, new private client teams’ hires, new office openings, business strategy and the impact of the COVID-19 pandemic on each of the foregoing and on our business overall. Forward-looking statements often include words such as "may," "believe," "expect," "anticipate," "intend," “potential,” “opportunity,” “could,” “project,” “seek,” “target,” “goal,” “should,” “will,” “would,” "plan," "estimate" or other similar expressions. As you consider forward-looking statements, you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties and assumptions that could cause actual results to differ materially from those in the forward-looking statements and can change as a result of many possible events or factors, not all of which are known to us or in our control. These factors include but are not limited to: (i) prevailing economic conditions; (ii) changes in interest rates, loan demand, real estate values and competition, any of which can materially affect origination levels and gain on sale results in our business, as well as other aspects of our financial performance, including earnings on interest-bearing assets; (iii) the level of defaults, losses and prepayments on loans made by us, whether held in portfolio or sold in the whole loan secondary markets, which can materially affect charge-off levels and required credit loss reserve levels; (iv) changes in monetary and fiscal policies of the U.S. Government, including policies of the U.S. Treasury and the Board of Governors of the Federal Reserve System; (v) changes in the banking and other financial services regulatory environment; (vi) our ability to maintain the continuity, integrity, security and safety of our operations and (vii) competition for qualified personnel and desirable office locations. All of these factors are subject to additional uncertainty in the context of the COVID-19 pandemic and the conflict in Ukraine, which are having impacts on all aspects of our operations, the financial services industry and the economy as a whole. Additional risks are described in our quarterly and annual reports filed with the FDIC. Although we believe that these forward-looking statements are based on reasonable assumptions, beliefs and expectations, if a change occurs or our beliefs, assumptions and expectations were incorrect, our business, financial condition, liquidity or results of operations may vary materially from those expressed in our forward-looking statements. You should keep in mind that any forward-looking statements made by Signature Bank speak only as of the date on which they were made. New risks and uncertainties come up from time to time, and we cannot predict these events or how they may affect the Bank. Signature Bank has no duty to, and does not intend to, update or revise the forward-looking statements after the date on which they are made.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220613005339/en/

For Further Information:

Investor Contact:

Brian Wyremski, Senior Vice President and Director of Investor Relations and Corporate Development

646-822-1479, bwyremski@signatureny.com

Media Contact:

Susan Turkell Lewis, 646-822-1825, slewis@signatureny.com

Source: Signature Bank

FAQ

What new appointments has Signature Bank (SBNY) announced?

Signature Bank announced the appointment of five private client banking teams in the New York metropolitan area, including John Madigan as Managing Group Director.

How will the new banking teams impact Signature Bank (SBNY)?

The new teams are expected to strengthen client relationships and expand Signature Bank's footprint in the New York area.

What is the experience of the new team members at Signature Bank (SBNY)?

The new team members have decades of experience from other institutions like Citibank and JPMorgan Chase, enhancing the bank's expertise.

What strategy is Signature Bank (SBNY) emphasizing with these new appointments?

Signature Bank is emphasizing a relationship-based banking model, focusing on cohesive teams to serve their clients.