A. William Schenck, who resigned last month as Pennsylvania's secretary of banking, is starting a Pittsburgh bank that will cater to midsize businesses, professionals, and high-net-worth individuals.
Mr. Schenck, who had been the secretary of banking for three years, will be the president of TriState Capital Bank.
Jim Getz, the former president of Federated Securities Corp., will be the new bank's chairman and chief executive, TriState said Thursday.
Mark Sullivan, a former director of Ernst & Young's Philadelphia office, will be the vice chairman and chief financial officer.
The Pennsylvania Department of Banking, the Federal Deposit Insurance Corp. and the Federal Reserve Board are reviewing TriState's charter application, the bank said. The intention is to capitalize the bank at $100 million.
