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Apr 24, 2018

Signature Bank Expands Network with Appointment of Two Private Client Banking Teams

NEW YORK--(BUSINESS WIRE)--Apr. 24, 2018-- Signature Bank (Nasdaq: SBNY), a New York-based full-service commercial bank, announced today the appointment of two private client banking teams, taking the total number of teams in its network to more than 100.

Joseph Seibert was named to the post of Group Director and Senior Vice President, leading a five-person team, along with Sarmen Saryan and David D’Amico, who were each appointed Group Directors and Vice Presidents. The team will be based at the Bank’s private client office at 485 Madison Avenue, in New York City.

Seibert brings 20+ years of experience to his leadership role. Most recently, he served as Vice President and Market Sales Manager at Metropolitan Commercial Bank in Manhattan, where he worked with Saryan and D’Amico. Prior, he was Vice President and Sales Manager at Valley National Bank for eight years and Vice President and Banking Center Manager at Bank of America for eight years. Seibert specializes in serving companies engaged in digital asset banking and blockchain technology.

Saryan, with 15 years of banking experience, formerly was a Vice President and Relationship Manager at Metropolitan Commercial Bank for five years, where he focused on building and maintaining client banking relationships with venture capital and private equity firms, hedge funds, real estate companies, broker-dealers and fin-tech entities. Previously, he was a Relationship Manager at Santander Bank in Midtown Manhattan and Citizens Bank on Long Island.

D’Amico was a Relationship Manager at his former institution, primarily responsible for on-boarding and serving high-net-worth clients. His specialty also lies in digital asset banking. With a 12-year banking career that spans several commercial positions, previously, he was Branch Manager at TD Bank in Midtown Manhattan and Chase Bank on New York’s Lower East Side.

Also joining Seibert’s team is Theo Been as Senior Client Associate, who previously worked with Seibert, Saryan and D’Amico. Most recently, Been was a Customer Service Representative at Metropolitan Commercial Bank, where he handled account on-boarding and key aspects of account operations at the Park Avenue branch. Lance Bravin also joins the team as Relationship Manager. He spent five years in various banking roles including branch manager.

Signature Bank also added a team headed by newly appointed Group Director and Senior Vice President Peter Clemente. His team will be based at the Bank’s Garden City, Long Island private client banking office.

Clemente has 30 years of banking experience. Most recently, he served as Senior Vice President, Group Head-Corporate Banking at Israel Discount Bank (IDB) in Melville. In this capacity, Clemente was charged with establishing the Long Island middle-market segment. He also was Vice President and Team Leader for Business Banking at Flushing Bank, directing that institution’s expansion into Long Island. Clemente spent more than a decade at HSBC Bank USA, N.A. in the Mid-Hudson Valley, Albany and New York City, in roles of increasing responsibility.

Joining Clemente is Maria Barone, Senior Client Associate. Barone, who spent nearly two decades in banking, worked with Clemente at IDB in her Assistant Vice President role. She focused on serving private clients and providing business development support.

“We are entering 2018 with the appointment of two private client banking teams who bring decades of talent and experience to Signature Bank. The veteran bankers leading each of these teams have dedicated their careers to commercial banking, and their expertise fits perfectly with our model. They also have experience in areas relevant to the fast-changing financial services landscape. As technology advances quickly throughout our industry, we believe this will prove beneficial to our clients and will also strengthen our abilities in continuing to meet their needs,” said Joseph J. DePaolo, President and Chief Executive Officer at Signature Bank.

“There is still enormous opportunity in the marketplace for Signature Bank to attract seasoned bankers, and we continue to work diligently and carefully to identify those whose experience will mesh well with our model. Both teams are eager to provide client-centric services through our single-point-of-contact structure, which sets the Bank apart not only with clients, but also amongst highly competent banking professionals like Joe, Peter and their team members. We welcome our new teams to Signature Bank and look forward to their contributions,” DePaolo noted.

About Signature Bank

Signature Bank, member FDIC, is a New York-based full-service commercial bank with 30 private client offices throughout the New York metropolitan area, including those in Manhattan, Brooklyn, Westchester, Long Island, Queens, the Bronx, Staten Island and Connecticut. 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. Its 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.

Since commencing operations in May 2001, the Bank has grown to $44.44 billion in assets, $33.25 billion in loans, $34.82 billion in deposits, $4.00 billion in equity capital and $3.66 billion in other assets under management as of March 31, 2018. Signature Bank's Tier 1 and risk-based capital ratios are significantly above the levels required to be considered well capitalized.

Signature Bank recently earned several third-party recognitions, including: appeared on Forbes' Best Banks in America list for the eighth consecutive year in 2018; named Best Private Bank and Best Attorney Escrow Services provider and among the top three Best Business Banks for the eighth consecutive year by the New York Law Journal in the publication’s annual Best of reader survey; cited in the top three of the nation's best private banking services providers in the The National Law Journal Best of 2017 reader rankings; earned Best Commercial Bank of the Year – U.S. award from International Banker in their International Banker 2017 North and South American Awards program; received two gold Stevie Awards® in The 15th Annual American Business Awards for 2017: Company of the Year in both Banking and Financial Services-Large categories.

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.

Source: Signature Bank

Signature Bank
Investor Contact:
Eric R. Howell, 646-822-1402
Executive Vice President-Corporate and Business Development
ehowell@signatureny.com
or
Media Contact:
Susan J. Lewis, 646-822-1825
slewis@signatureny.com