NEW YORK--(BUSINESS WIRE)--Signature Bank (Nasdaq:SBNY), a New York-based full-service commercial bank, announced today the expansion of both its established Fund Banking Division as well as its recently formed Venture Banking Group, with the appointment of several new banking professionals.
Within the Fund Banking Division, Charlie Owens was named to the position of Managing Director, based in Charlotte, N.C. In this role, Owens, a 25-year banking veteran, will focus on sourcing, originating and structuring new business opportunities in the private equity industry. For the past seven years, Owens served as Managing Director within Wells Fargo’s Subscription Finance Group, responsible for origination and structuring fund financing facilities, also located in Charlotte.
Concurrently, Brad Boland, with two decades of banking experience, was also named Managing Director. He is based in the Bank’s San Francisco private client banking office. Boland will also focus on generating new opportunities within the private equity industry, with an emphasis on the West Coast. Earlier, for nearly eight years, Boland was Managing Director and Co-head of Originations for Wells Fargo’s Subscription Finance Group, responsible for developing and implementing origination strategy and managing a team of six Charlotte-based originators.
Signature Bank’s newly launched Venture Banking Division added ten senior-level team members throughout the country, most of whom join from Square 1 Bank, a division of Pacific Western Bank. The Venture Bank Group now totals 28 banking professionals nationwide.
Jody Shepherd was named Managing Director, Technology. He will manage the technology banking practice in the Rocky Mountain region and will be based in Denver. Formerly, Shepherd spent more than eight years at Square 1 in Denver, most recently serving as Managing Director, Rocky Mountain.
Jeff Lampe, Managing Director, Technology in Chicago, will oversee a 13-state region spanning the Midwest, focusing on venture lending to regional and national venture capital entities. He held the same title at Square 1 for three years prior to joining Signature Bank. He brings an 18-year career in banking and venture capital to his new role.
Also based in Chicago is Lisa Foussianes, appointed to the post of Senior Vice President on the Life Sciences team. In this role, she will handle loan originations and relationship management. Previously, Foussianes, who has worked in banking for two decades, was Senior Vice President on Square 1’s Life Sciences team, also in Chicago, for six years.
Philip Korn was appointed to the role of Managing Director, Head of Venture Capital Relationships for the Bay Area. Korn, with more than 25 years of banking-related experience, held the same position at Square 1, managing national venture capital relationships for more than six years. Korn’s emphasis will be on increasing visibility of the Group’s capabilities throughout the national venture community by managing, growing and maintaining relationships with venture capital investors nationwide.
Seong Kim was named Managing Director, Technology, based in Los Angeles. He will be responsible for launching the Venture Banking Group’s technology banking practice on the West Coast. In this capacity, Kim will build out the team in Los Angeles as well as handle new business development among high-growth technology companies across several major innovation hubs, such as San Diego, Los Angeles, the Bay Area and Seattle. Kim, with 15 years of related experience, joins from Comerica Bank’s Technology and Life Sciences Division, where he held roles of increasing responsibility, most recently serving as Managing Director and Head of the Mid-Atlantic and Southeast region.
Several banking professionals will join Signature Bank’s Venture Banking Group in Durham, N.C.: Justin McDonie was named Managing Director, Life Sciences; Michael Fulton was appointed Managing Director, Venture Capital Services; and Zack Mansfield was named Managing Director, Technology.
McDonie, with more than 13 years of experience in the life sciences arena and several in banking, will concentrate on growing the Venture Banking Group’s Life Sciences practice nationwide. He will handle new loan originations as well as cultivate relationships with venture capital investors and entrepreneurs across life sciences verticals nationwide. He joins from Bridge Bank, where he held the same title as that of his new role and was a co-founder of its Life Sciences platform.
Fulton brings 14 years of banking experience to his new role, in which he will focus on providing banking services to venture capital firms. He previously served as Senior Vice President, Equity Funds Group at Square 1 for nine years, where he held similar responsibilities.
In his new position, Mansfield will work on new business development and relationship building amongst high-growth technology companies and the venture community throughout the Southeast. He held the same position at his previous employer, Square 1 Bank, since joining 12 years ago.
Appointed to the post of Managing Director, Technology in Atlanta, Ned Hill will develop and manage the Group’s venture banking business throughout Atlanta and the Southeast as well as Texas. Prior to joining the Venture Banking Group at Signature Bank, Hill was Managing Director, Technology Banking for Square 1, also developing and managing the venture banking business for the Southeast for approximately four years. Prior, Hill was Managing Director at Mercury Fund, a Houston-based early-stage venture capital firm.
Kevin Johnson, whose banking experience spans 15 years, was also named Managing Director, Technology, as part of the newly formed national Venture Banking Group. In his new role, Johnson, based in Washington, D.C., will work closely with entrepreneurs by providing debt and cash management solutions for technology companies supported by venture capital. Formerly, Johnson was Managing Director, Mid-Atlantic at Square 1, based in Chevy Chase, Md., where he led the team in the Mid-Atlantic region.
“The expansion of both our Fund Banking Division and Venture Banking Group is demonstrative of the market opportunity we’ve identified in each of these businesses. We believe the venture capital and private equity arenas are rapidly growing sectors which will prove beneficial to our growth -- ones where our relationship-based model would bode well for the types of clients we attract and serve. In keeping with our single-point-of-contact, relationship-based approach, we identified top talent initially to lead and grow these businesses. Under the leadership of Tom Byrne in our Fund Banking Division and Ken Fugate for our Venture Banking Group -- both proven professionals with significant growth track records in their respective areas – we are swiftly establishing a foothold in venture capital and private equity banking. We welcome these new colleagues throughout the country and look forward to their ongoing contributions to the Bank’s growth,” said Signature Bank President and Chief Executive Officer Joseph J. DePaolo.
About Signature Bank
Signature Bank, member FDIC, is a New York-based full-service commercial bank with 31 private client offices throughout the New York metropolitan area and Connecticut as well as San Francisco. The Bank’s growing network of private client banking teams serves the needs of privately owned businesses, their owners and senior managers.
Signature Bank’s specialty finance subsidiary, Signature Financial, LLC, provides equipment finance and leasing. Signature Securities Group Corporation, a wholly owned Bank subsidiary, is a licensed broker-dealer, investment adviser and member FINRA/SIPC, offering investment, brokerage, asset management and insurance products and services.
Signature Bank recently introduced its revolutionary, blockchain-based digital payments platform, Signet™, enabling real-time payments for its commercial clients. The Signet Platform allows the Bank’s commercial clients to make payments in U.S. dollars, 24/7/365, safely and securely, without transaction fees. Signature Bank is the first FDIC-insured bank to launch a blockchain-based digital payments platform, and Signet is the first such platform to be approved for use by the NYS Department of Financial Services.
Since commencing operations in May 2001, the Bank has grown to $48.55 billion in assets, $37.47 billion in loans, $36.62 billion in deposits, $4.55 billion in equity capital and $3.58 billion in other assets under management as of March 31, 2019. Signature Bank's Tier 1 and risk-based capital ratios are significantly above the levels required to be considered well capitalized.
Signature Bank is one of the top 40 largest banks in the U.S., based on deposits (S&P Global Market Intelligence). The Bank recently earned several third-party recognitions, including: appeared on Forbes' Best Banks in America list for the ninth consecutive year in 2019; and, named Best Business Bank, Best Private Bank and Best Attorney Escrow Services provider by the New York Law Journal in the publication’s annual “Best of” survey for 2018, earning it a place in the New York Law Journal’s Hall of Fame (awarded to companies that have ranked in the “Best of” survey for at least three of the past four years). The Bank also ranked second nationally in the Best Business Bank, Best Private Bank and Best Attorney Escrow Services categories of the National Law Journal’s 2019 “Best of” survey.
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. 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 future results, interest rates and the interest rate environment, loan and deposit growth, loan performance, operations, new private client teams and other hires, new office openings and business strategy. These statements often include words such as "may," "believe," "expect," "anticipate," "intend," “potential,” “opportunity,” “could,” “project,” “seek,” “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 and (vi) competition for qualified personnel and desirable office locations. 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. 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.