Square 1 Bank, a unit of PacWest Bancorp, has hired two financial services veterans to expand its banking services for venture capital and private-equity firms and named a new leader of that practice.
Judy Lee and Chuck Tedeschi have joined Square 1 as senior vice presidents in its equity funds group, the company said in a news release Tuesday. She is based in San Francisco, and he is based in Boston.
Lee was vice president in the venture capital and private-equity services practice of Silicon Valley Bank, which is well known for catering to tech entrepreneurs. She held other positions there -- including senior adviser in fixed-income asset management as well as technology and life sciences banker -- during more than a decade of working in northern California's high-tech hub.
Tedeschi has spent about 20 years in venture capital, private equity and tech banking. Like Lee, he is also an alum of Silicon Valley Bank, where he spent a decade. Most recently, he held leadership positions at NewSpring Capital and NEPC, where he conducted research on venture and PE firms on behalf of institutional clients.
Meanwhile, Square 1 has promoted managing director Brad Smith to head of the equity funds group. Smith joined the company two years ago to expand its relationships with venture capital firms in Northern California.
Square 1 is based in Durham, N.C., and its niche is serving tech and other entrepreneurs and their investors in 13 major cities. PacWest, a $21 billion-asset banking company in Los Angeles, bought Square 1 in October 2015 for $847 million.