(Nasdaq:SBNY), a New York-based full-service commercial bank, announced today that it has formed a new subsidiary, Signature Financial, LLC, marking the Bank’s entry into the specialty financing arena. Concurrently, the Bank appointed a major middle market team on Long Island while expanding its presence in Manhattan by adding one team and expanding another.
Signature Financial is a specialty finance company, focused on equipment finance and leasing, transportation financing and taxi medallion financing. Combined with the Bank’s current taxi medallion finance business, Signature Bank enhances its market position in this field.
A well-respected, veteran management team was appointed to lead Signature Financial, which will be based in Melville, Long Island. The team, whose management possesses more than 175 years of combined experience within specialty finance and has worked together for 25 years, will be led by Walter Rabin, who will join Signature Financial as President in June 2012, after a 90-day waiting period.
Additional members who have already joined Signature Financial are Richard J. Antonacci, with 25 years of specialty finance experience, who was named Chief Operating Officer and Executive Vice President; Anthony Fantauzzi, a seasoned financing executive with more than 30 years of commercial finance and banking experience, named Chief Risk Officer and Executive Vice President; Anthony Perettine, Executive Vice President, with nearly three decades spanning both commercial finance and banking; Joseph Fantauzzi, appointed Executive Vice President and Capital Markets Division Head, bringing 26 years of financing and leasing expertise to his new role; W. Kerry Mach, Senior Vice President and Director of Business Development, another 26-year banking and financing veteran specializing in middle market equipment leasing; and, Daniel Craffey, Senior Vice President and Director of Operations who has spent 15 years in the specialty finance industry.
Also joining Signature Financial are Steve Robbins as Director of Asset Management; Steve Jason as Director of Vehicle Finance; and, John Cetta as Director of Taxi Medallion Finance. Each bring more than 20 years of industry experience to Signature Financial.