Signature Bank (SBNY) in New York has drawn a team of four bankers away from Amalgamated Capital to form a new asset-based lending group.
Group director and senior vice president Robert Love will lead the group, the $19.7 billion-asset company said in a Thursday press release. Love started Amalgamated Capital, the asset-based lending division of Amalgamated Bank in New York, and has 23 years of experience in this specialty lending area. He brings with him former Amalgamated colleagues Wendy Nelson, Robert Wallace and Marissa Wych.
"At Signature Bank, we are building a solid, complementary asset-based lending practice dedicated to serving middle market companies, where we will provide clients with creative structures and highly personalized service," Love said in the release. "Our commitment to client care directly corresponds with Signature Bank's client-first philosophy, which is an ideal fit for our team."
Signature has made a habit of hiring teams from other banks in recent months. This summer, it hired private-banking teams from HSBC and Citigroup (NYSE: C). It launched a specialty finance unit, Signature Financial, in April 2012, luring a team of executives from Capital One Financial (COF).