NEW YORK--(BUSINESS WIRE)--Signature Bank (Nasdaq: SBNY), a New York-based full-service commercial bank, announced today the appointment of Ivanka M. Trump to its board of directors, effective today.
Trump is executive vice president of development and acquisitions at The Trump Organization in New York, where, in conjunction with her father and two brothers, she directs all areas of the company’s real estate and hotel management platforms. The privately held Trump Organization encompasses global real estate development, acquisition and licensing, sales and marketing, residential, golf and hotel management, entertainment and product licensing. Ivanka Trump is engaged in all aspects of both Trump® and Trump-branded real estate projects, including deal evaluation, pre-development planning, financing, design, construction, sales and marketing.
In addition to her work at The Trump Organization, Trump is a principal of Ivanka Trump Fine Jewelry, her own jewelry line and retail business, and is involved in several other fashion-related ventures, including: Ivanka Trump Footwear, a license with Marc Fisher; Ivanka Trump Handbags, a license with Mondani; and Ivanka Trump Coats, a license with FleetStreet Ltd. Additionally, she announced an apparel collection with her brand in partnership with HMX, set to launch in spring of 2012.
Trump fills the Board seat vacated by Frank R. Selvaggi, Senior Partner at Altman, Greenfield & Selvaggi, LLP, the New York City and Los Angeles accounting firm he co-founded in 1986, which specializes in business management for the entertainment industry. He joined the Board two years ago and resigned due to time constraints in his schedule.
“The entire Signature Bank Board welcomes Ivanka and also thanks Frank for his two years of committed service and guidance. With Signature Bank focused on serving entrepreneurs and privately owned businesses, we are dedicated to ensuring our distinctive character and high level of personal service is recognized by today’s up and coming entrepreneurs. Ivanka is a perfect fit in that her creativity, capabilities and track record in today’s digital-based marketplace reflect an important segment of our clientele -- the next generation of business leaders. We believe Ivanka will bring insight as well as business acumen and savvy to our Board and the Bank,” explained Signature Bank’s Chairman of the Board Scott A. Shay.
Shay also noted that the Signature Bank Board is at its full complement with nine directors, six of whom are independent.
Signature Bank President and Chief Executive Officer Joseph J. DePaolo, added: “Since our inception, we have targeted our services toward privately owned businesses, many of which are headed by flourishing entrepreneurs. Ivanka, being one of those entrepreneurs, epitomizes the type of clients our private client banking teams serve. Her vision and expertise will prove beneficial to our Board, clients and shareholders as we continue to further strengthen our leadership position as one of the very few full-service, mid-size commercial banks remaining in the New York metro area. We are excited about the contributions Ivanka will make to our Board.”
Trump said of her Board seat: “I am very pleased and honored to join the Signature Bank Board. In just 10 years, Signature Bank has significantly and consistently grown deposits by building a hugely successful enterprise that has captured the attention of many private businesses and entrepreneurs across the New York area. Its dedicated, single-point-of-contact service approach is exactly what these types of demanding business owners need. I know firsthand how important it is to rely on the relationships we forge with banking professionals and greatly appreciate highly personalized attention. It is an imperative component to operating any thriving business. I hope that my perspective will complement the talents and visions of Signature Bank’s distinguished Board, and I look forward to this opportunity to serve.”
Trump graduated Cum Laude from the Wharton School of Finance at the University of Pennsylvania, where she received her Bachelor of Science degree in economics. Before joining The Trump Organization in 2005, she was a real estate project manager for Bruce Ratner at Forest City Enterprises. She is a founding partner of the U.N. Foundation’s Girl Up initiative, a campaign to recruit young women to support U.N. programs for girls in developing countries. Partnering with social activists such as Elizabeth Gore and Queen Rania of Jordan, the program hopes to bring awareness and career skills to young women around the world. Trump is also involved with several other charitable organizations, including the Eric Trump Foundation and the New York City Police Foundation.
About Signature Bank
Signature Bank, member FDIC, is a New York-based full-service commercial bank with 25 private client offices throughout the New York metropolitan area. The Bank’s growing network of private client banking teams serves the needs of privately owned businesses, their owners and senior managers. Signature Bank offers a wide variety of business and personal banking products and services as well as investment, brokerage, asset management and insurance products and services through its subsidiary, Signature Securities Group Corporation, a licensed broker-dealer, investment adviser and member FINRA/SIPC.
Signature Bank's 25 offices are located: In Manhattan (9) - 261 Madison Avenue; 300 Park Avenue; 71 Broadway; 565 Fifth Avenue; 950 Third Avenue; 200 Park Avenue South; 1020 Madison Avenue; 50 West 57th Street and 2 Penn Plaza. Brooklyn (3) - 26 Court Street; 84 Broadway and 6321 New Utrecht Avenue. Westchester (2) - 1C Quaker Ridge Road, New Rochelle and 360 Hamilton Avenue, White Plains. Long Island (6) - 1225 Franklin Avenue, Garden City; 279 Sunrise Highway, Rockville Centre; 68 South Service Road, Melville; 923 Broadway, Woodmere; 40 Cuttermill Road, Great Neck and 100 Jericho Quadrangle, Jericho. Queens (3) - 36-36 33rd Street, Long Island City; 78-27 37th Avenue, Jackson Heights and 8936 Sutphin Blvd., Jamaica. Bronx (1) - 421 Hunts Point Avenue, Bronx. Staten Island (1) - 2066 Hylan Blvd.
Since commencing operations in May 2001, the Bank has grown to $13.1 billion in assets, $10.9 billion in deposits, $1.06 billion in equity capital and $1.78 billion in other assets under management as of June 30, 2011. Signature Bank's Tier 1 and risk-based capital ratios are significantly above the levels required to be considered well capitalized.
For more information, please visit 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 that are subject to risks and uncertainties. Forward-looking statements include information concerning our future results, interest rates and the interest rate environment, loan and deposit growth, loan performance, operations, competition, capitalization, new private client team hires, new office openings, the regulatory environment and business strategy. These statements often include words such as "may," "believe," "expect," "anticipate," "intend," "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. These factors include but are not limited to: (i) prevailing economic and regulatory conditions; (ii) changes in interest rates, loan demand, real estate values and competition, which can materially affect origination levels and gain on sale results in our business, as well as other aspects of our financial performance; (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; and (iv) competition for clients, loans, deposits, qualified personnel and desirable office locations. Additional risks are described in our quarterly and annual reports filed with the FDIC. 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. In light of these risks and uncertainties, you should keep in mind that any forward-looking statement made in this release or elsewhere might not reflect actual results.