Newly Created Positions and Promotions Continue
Bank’s Expansion and Future Initiatives
Signature Bank (Nasdaq: SBNY), a New York-based, full-service
commercial bank, announced today several management appointments,
promotions and transitions, all of which will address its progress
to date and future growth and initiatives.
After 21 years of dedicated service, Mark Sigona, Senior
Executive Vice President and Chief Operating Officer, announced his
retirement, effective June 30, 2021. Sigona, a founding member of
the executive management team, joined as Senior Vice President and
Chief Financial Officer. He served in this capacity until 2004 at
which time he was appointed COO.
Sigona commented on his long-standing tenure at the Bank: “It
has been both an honor and a blessing to be part of the Signature
Bank family from the very beginning. No words can express my
gratitude to Joe, Scott and John, along with the appreciation I
will always have for the hard work and dedication of my many
colleagues over the course of more than 20 years.”
Eric R. Howell, Senior Executive Vice President-Corporate and
Business Development since 2013, will assume the COO role,
including his current duties overseeing certain of the Bank’s
national businesses and West Coast operations. Howell has been with
Signature Bank since its inception, during which time he held roles
of increasing responsibility, including Executive Vice President
and Chief Financial Officer, after initially joining as
Controller.
Peter Quinlan, Executive Vice President and Treasurer, also
announced his retirement, effective June 30, 2021. In this
capacity, Quinlan managed the Bank’s investment portfolio, interest
rate risk and liquidity management functions since 2003. He joined
the Bank in 2002 as Investment Manager.
Quinlan added: “Being part of the Signature Bank team for the
past two decades has been a privilege. I truly value the guidance
provided by Joe, John, Scott and the support from the entire
Signature Bank family. The unique business model emphasizing
relationship dedication and entrepreneurial spirit will continue to
provide the foundation for Signature Bank’s future growth and
success.”
Kevin Hickey, Senior Vice President and Chief Risk Officer for
the past five years, will return to the Treasury Department as
Senior Vice President-Chief Investment Officer and Treasurer.
Hickey, a Bank colleague since 2004, began his tenure as Associate
Treasurer and assumed the additional title of Senior Vice President
several years later. In total, he spent 12 years in the Bank’s
Treasury Department.
Keisha Hutchinson has been named Senior Vice President and Chief
Risk Officer, effective June 1, 2021, joining Signature Bank from
KPMG in Short Hills, N.J., where she was audit partner for five
years. Her extensive background and experience within the financial
services industry made her an opportune candidate for this
position. Hutchinson will oversee the Bank's risk management,
compliance and information security programs.
Executive Vice President and Chief Financial Officer Vito Susca
will move into the newly created post of EVP and Chief
Administrative Officer, and assume various operational
responsibilities, including overseeing risk and compliance,
facilities, security and special projects as well as serving as a
liaison for internal audit and regulators. He was SVP and CFO from
2013-2021, after serving as SVP and Controller since he began his
employment with the Bank in 2004.
Stephen Wyremski, Senior Vice President and Controller since
joining the Bank in 2015, will be promoted to Senior Vice President
and Chief Financial Officer, managing all financial-related
activities, effective June 30, 2021. Prior, he spent eight years at
KPMG in New York City. His latest position was Senior Manager in
the banking audit practice, overseeing audits for large banking
enterprises. Other finance-focused roles Wyremski held include
those at American International Group, Inc. (AIG) and Veeco
Instruments.
Catherine Donald-Grove, Senior Vice President and Director of
Product Management Services, was promoted to Chief Products
Officer, also a newly established position for the Bank.
Donald-Grove will be responsible for furthering product
capabilities as well as advancing sales efforts and fee income
initiatives, including cash management, foreign exchange, credit
cards and money market funds. Donald-Grove has been part of the
Signature Bank team since 2010.
Dawn Juliano was named to the newly created position of Senior
Vice President and Deputy Chief Lending Officer, reporting to
Executive Vice President and Chief Lending Officer Thomas Kasulka.
In her new capacity, Juliano will be responsible for working
closely with Kasulka to increase the Bank’s lending activities.
Juliano has been with Signature Bank for four years, and was
promoted to the post of Senior Vice President and Director of
Credit Policy and Credit Administration in 2018.
“As we enter our 21st year of operation, we reflect on the great
successes we have realized to date as well as the roles our
dedicated colleagues play in delivering exceptional care and
service to our clients. The colleagues recognized by these changes
have all demonstrated a strong commitment to our clients, their
positions and this organization overall. We appreciate their hard
work and loyalty,” stated Joseph J. DePaolo, President and Chief
Executive Officer.
“Mark and Peter have been with the Bank since the beginning, and
both helped shape this institution as we continually grew. I will
miss them both, professionally and personally. I’ve worked with
Peter for 19 years and Mark for 35 spanning the three jobs I’ve
held throughout my adult career. Their contributions over the years
have been significant to our growth, endeavors and market position.
Management and the Board appreciates all Mark and Peter have done
to positively impact the Bank. Although not easily replaceable, we
looked within our own network to pull from the extraordinary talent
of our workforce. We also value talented prospects outside the
organization, and to this end, welcome Keisha to the Signature Bank
family. With more than 1,700 talented colleagues, we have a solid
team to draw upon as we look ahead to further strengthening our
institution,” DePaolo said.
Scott A. Shay, Chairman of the Board, added: “I have been
privileged to work with Mark Sigona since 2000 and Peter Quinlan
since 2002. Mark’s excellent judgment and keen perspicacity, along
with the positive energy he generated for all those around him, is
a rare combination for one person to possess. Although I know
Mark’s guidance and advice are always available to us, I will
greatly miss seeing and working with him every day. Peter and I
have faced a variety of yield curve and financial upheavals
together and even when the financial markets were convulsing, Peter
found safe and sound strategies so that the Bank could always
provide our depositors with the ‘sleep at night’ safety that we
pledged to maintain. In an era during which Wall Street became
increasingly algorithmic and quantitatively sophisticated, Peter
always brought the smarts and instincts to maintain Signature Bank
in good stead. As we announce these promotions, we are proud this
team is steeped in our unique culture. Joe, John Tamberlane and I
are confident that the enlarged team we announce today is fully
capable of keeping us on our growth trajectory and will lead the
Bank from strength to strength.”
About Signature Bank
Signature Bank (Nasdaq: SBNY), member FDIC, is a New York-based,
full-service commercial bank with 37 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
$85.4 billion in assets as of March 31, 2021. With $74.0 billion in
deposits at first quarter-end 2021, Signature Bank placed 22nd on
S&P Global’s list of the largest banks in the U.S., based on
deposits.
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
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, our business strategy and the impact of the
COVID-19 pandemic on each of the foregoing and on our business
overall. These 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, which is having an unprecedented
impact on all aspects of our operations, the financial services
industry and the economy as a whole. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20210423005123/en/
Investor Contact: Eric R. Howell,
Senior Executive Vice President – Corporate and Business
Development 646-822-1402, ehowell@signatureny.com Media Contact: Susan Turkell Lewis, 646-822-1825,
slewis@signatureny.com
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