Signature Financial, LLC, Appoints Seven Sales Executives
Expansion Brings Number of Sales Executives to 19 Nationwide
NEW YORK -- August 20, 2013
Signature Financial, LLC, the specialty finance subsidiary of New York-based
Signature Bank (NASDAQ:SBNY), announced today the appointment of seven
seasoned sales professionals throughout the country. These sales executives
bring decades of experience to Signature Financial, primarily in the areas of
equipment and transportation leasing and finance.
Harry Newman was named Executive Sales Officer, and is based in the Knoxville,
Tenn. area. He brings 30 years of financing expertise to Signature Financial.
Prior, Newman was Vice President at Wells Fargo Equipment Finance, where he
handled sourcing and negotiating a wide range of construction equipment
transactions. Previously, he held various equipment finance-related positions
at Citigroup and Astec Financial.
Craig T. Cleary was named Executive Sales Officer and is based in Harrisburg,
Pa. Cleary has 20 years of experience in equipment financing, and most
recently served as business development manager for De Lage Landen, a global
provider of leasing, business and consumer finance solutions. Prior, he served
as Vice President at both GE Capital and Citigroup. Cleary’s expertise extends
into the construction and trucking industries.
Also appointed to the role of Executive Sales Officer is Bill Musgrave, who is
based in the Denver, Colo. region. Musgrave has spent more than 30 years in
the equipment finance arena, specializing in construction, bus finance and
waste management. Before joining Signature Financial, he was a Vice President
at Capital One Equipment Leasing & Finance for seven years. Musgrave
previously worked in various finance positions at Zion’s Credit Corp., HSBC
Business Credit and ITT Capital Financial.
Rob McKenna, based in Philadelphia, Pa., was named to the post of Executive
Sales Officer, after garnering a 23-year career in specialty finance, with an
emphasis in construction and transportation equipment. Most recently, McKenna
was District Sales Manager at Paccar Financial Corp. in both Pa. and N.Y.
Previously, he held Vice President of Sales roles at both GE Capital and
Mark Riley was also appointed to the post of Executive Sales Officer and is
based in Richmond, Va. Another 23-year financing veteran, Riley recently was a
Commercial Loan Officer for People’s United Equipment Finance. An expert in
construction and transportation financing, he also was a Senior Vice President
and Regional Manager at CitiCapital and Senior Vice President and Sales
Manager at GE Capital.
Joining the Signature Financial headquarters location in Melville, N.Y. is
Executive Sales Officer Joseph D. Farinella, who brings 35 years of finance
experience to his new position. Farinella, who specializes in construction
equipment and transportation financing, previously served as a Vice President
at Wells Fargo Equipment Finance, serving eastern New York and Connecticut. He
spent 18 years at Wells Fargo and its predecessor, CIT Construction. Farinella
also was Vice President at USI Capital and Leasing in New York City.
Rick Scheffel also joins Signature Financial’s headquarters in Melville as
Executive Sales Officer. Scheffel’s direct origination efforts focus on
serving commercial clients, not-for-profit entities and municipalities within
Signature Bank’s metro-New York area footprint. Scheffel will also be
supporting Signature Bank’s Private Client Groups by providing equipment
leasing and finance solutions to enhance existing Bank relationships.
Scheffel, with 16 years of lending experience, spent six years at TD Equipment
Financial as New York Regional Manager focusing on business development.
Previously, he spent 10 years as a senior sales executive at GE Capital in the
Commercial Equipment Finance area.
“We are excited to further attract high-caliber sales professionals to
Signature Financial from a wide variety of institutions. Since Signature
Financial was introduced as part of Signature Bank just 16 months ago, we have
steadily grown this specialty finance business unit, and the addition of these
seven professionals helps to expand our nationwide capabilities,” noted Walter
Rabin, President and Chief Executive Officer at Signature Financial.
“In a little over one year, Signature Financial added 19 sales executives in
17 locations throughout the country, and booked in excess of $1.3 billion in
new originations. Additionally, Signature Financial ranked the 27^th largest
bank-affiliated institution in the industry as well as the 52^nd largest
equipment finance/leasing organization in the U.S., as of December 31, 2012,
according to The Monitor, a leading industry trade publication. The Monitor
ranks the finance industry annually in its Monitor 100 issue, and Signature
Financial was the highest ranked new entrant over the past decade. We are
certainly proud of reaching these significant milestones in such short order,”
About Signature Financial and Signature Bank
Signature Financial, LLC, is a specialty finance subsidiary of Signature Bank,
focused on equipment finance and leasing, transportation financing and taxi
medallion financing. Signature Financial operates from 16 locations throughout
Signature Bank, member FDIC, is a New York-based full-service commercial bank
with 27 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.
Investment, brokerage, asset management and insurance products and services
are offered through the Bank’s subsidiary, Signature Securities Group
Corporation, a licensed broker-dealer, investment adviser and member
Signature Bank's 27 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 (7) - 1225 Franklin Avenue, Garden City; 279 Sunrise
Highway, Rockville Centre; 68 South Service Road, Melville; 923 Broadway,
Woodmere; 40 Cuttermill Road, Great Neck; 100 Jericho Quadrangle, Jericho and
360 Motor Parkway, Hauppauge. 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 (2) - 2066 Hylan
Blvd. and 1688 Victory Blvd.
Since commencing operations in May 2001, the Bank has grown to $19.7 billion
in assets, $15.3 billion in deposits, $1.7 billion in equity capital and $1.8
billion in other assets under management as of June 30, 2013. 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. 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 team 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. 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.
As you read and consider forward-looking statements, you should understand
that these statements are not guarantees of performance or results. They
involve risks, uncertainties and assumptions and can change as a result of
many possible events or factors, not all of which are known to us or in our
control. 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
Signature Financial/Signature Bank
Eric R. Howell, 646-822-1402
Executive Vice President-Corporate & Business Development
Susan J. Lewis, 646-822-1825
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