NEW YORK--(BUSINESS WIRE)--Signature Bank (Nasdaq: SBNY), a New York-based full-service commercial bank, announced today the appointment of two private client banking teams, based at its San Francisco office on 201 Mission Street.
Dale Zeigler and Sumiko Sheaffer were each named Group Director – Senior Vice President and will lead their own teams. These banking professionals previously worked with Joe Petitti, Signature Bank’s Head of West Coast Operations.
Zeigler brings 33 years of commercial banking experience to his new role, with more than 20 years spent in the San Francisco market. Prior to joining Signature Bank, Zeigler was Vice President and Principal Business Relationship Manager with Wells Fargo Bank in San Francisco for 12 years, where he managed the financial needs of a large portfolio of middle market companies across various industries, including non-profit organizations. Earlier, Zeigler was Senior Vice President and Business Banking Manager at Business Bank of California (South San Francisco) and Assistant Vice President in Commercial Lending for The Pacific Bank in San Francisco.
Sheaffer has 32 years of banking experience, 27 of which were spent at MUFG Union Bank, N.A. in San Francisco. Most recently, she served as Vice President and Relationship Manager in Asian Corporate Banking. In this role, Sheaffer managed U.S. subsidiaries of foreign corporations. Sheaffer was instrumental in acquiring large corporate accounts and building international banking relationships. She also held the previous role of Vice President and Relationship Manager for San Francisco Business Banking at MUFG.
Joining Zeigler’s team are Sergey Shikhvarg, named Associate Group Director and Charlotte Elopre, who was appointed to the post of Senior Client Associate-Officer.
Most recently, Shikhvarg was a Vice President and Senior Commercial Relationship Manager at Bridge Bank, a division of Western Alliance Bank in San Francisco, where he managed commercial banking relationships. His banking career began at Wells Fargo as a Vice President and Principal Business Relationship Manager for San Francisco Business Banking.
Elopre, with 13 years of banking-related experience, worked with Zeigler at Wells Fargo in San Francisco as a Business Associate II, supporting business relationship managers. She also was a Personal Banker II for Wells Fargo’s Alameda, Calif. branch, and Assistant Branch Manager as well as Personal Banker for Wells Fargo’s San Leandro, Calif. branch.
“Since receiving our official approval to commence full-service banking operations in California, we are enthusiastic about the interest we have drawn from veteran bankers throughout the San Francisco marketplace. We found our single-point-of-contact model is needed in this market, where mega-banks continue to dominate the landscape. We are attracting seasoned bankers with extensive backgrounds and solid reputations and experience in commercial and relationship-based banking in the San Francisco marketplace,” explained Joseph J. DePaolo, President and Chief Executive Officer.
“We are excited about the opportunity to build our network outside of metro-New York, where we have successfully operated since our founding in 2001. Now, with more than $45 billion in assets and in excess of 100 private client banking teams, Signature Bank is well positioned to move into other metropolitan areas. Both of these newly appointed teams have broad experience that bodes well for our banking model. We look forward to their contributions and to expanding our footprint,” DePaolo added.
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. In 2018, the Bank expanded its footprint on the West Coast with the opening of its first full-service private client banking office in 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.
Since commencing operations in May 2001, the Bank has grown to $45.22 billion in assets, $34.15 billion in loans, $34.99 billion in deposits, $4.15 billion in equity capital and $3.49 billion in other assets under management as of June 30, 2018. Signature Bank's Tier 1 and risk-based capital ratios are significantly above the levels required to be considered well capitalized.
Signature Bank is ranked the 40th largest bank in the U.S. from nearly 6,000, based on deposits (SNL Financial). The 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; and, cited in the top three of the nation's best private banking services providers in the 2017 Best of The National Law Journal reader rankings.
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.
