Signature Bank, a New York-based full-service commercial bank, announced expansion of its West Coast presence with the appointment of veteran banking professionals and the opening of a new private client banking office in Reno, NV.
Signature Bank is now home to 35 teams on the West Coast, led by 56 Group Directors from its eight offices. Also, the Bank’s West Coast footprint includes representation from its subsidiary Signature Financial as well as from all its national banking practices, including the Fund Banking Division, the Venture Banking Group, the Specialized Mortgage Banking Solutions team and the SBA Lending team. Signature Bank is also in the process of elevating operations and to this end, is establishing an operational center in City of Industry, CA, to further support its growing businesses in the area and across the country.
To lead its banking efforts in Nevada, Signature Bank named Christopher Uboldi to the post of Managing Group Director and Senior Vice President. In this capacity, Uboldi will direct and manage six private client teams and 25 banking professionals throughout Nevada and the greater Sacramento, Calif. area. Uboldi will be based out of the Bank’s new private client banking office in Reno.
Uboldi, with 20 years of banking experience, joins from Bank of the West, where he served as Regional Group Manager and Senior Vice President, responsible for Nevada and Northern California banking teams spanning Las Vegas, Reno and the greater Sacramento area for 14 years. During his tenure, he oversaw a large portfolio and a 17-person team.
Andrew Backstrom, with a three-decade-long banking career, was named Senior Vice President and Group Director in Reno, where he will focus on increasing the Bank’s local market presence through client expansion. He too joins from Bank of the West, having spent 15 years there as a team leader in business banking for Northern Nevada. Uboldi and Backstrom worked together for 14 years at their former employer.
“Since bringing our model from east to west, we have continued to demonstrate the success of our diversification strategy with our West Coast initiative being a key component of our growth plan. Our broad acceptance throughout both Northern and Southern California by bankers and clients alike, coupled with new significant interest in Nevada, is a real testament to our single-point-of-contact model and the expertise of our private client banking teams. Clients throughout the West Coast are certainly noticing our commitment and capabilities and responding positively,” said Joseph J. DePaolo, Signature Bank President and Chief Executive Officer.
Judi Prejean, Executive Director, West Coast Operations for Signature Bank, added: “In just three years since putting our official stake in West Coast ground amid a global pandemic, Signature Bank continues to attract seasoned banking professionals and grow its market position. Now, with approximately 240 colleagues extending between California and Nevada, the Bank has fast become the bank of choice for these experienced banking professionals who are bringing their solid reputations and deep local expertise to our enterprise. We look forward to the contributions both Chris and Andrew will make in their new leadership roles.”
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.