Sterling in New York creates group to bank technology companies

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Sterling Bancorp in Montebello, N.Y., has formed a division to serve growing technology companies.

The $30.2 billion-asset holding company said in a recent press release that it hired bankers John Hoesley and Josh Roberts to lead its innovation finance group. The group will offer lending and banking products including asset-based solutions, recurring revenue-based revolving lines of credit, treasury management and foreign exchange.

“We are excited to establish a team that can meet the needs of the rapidly expanding technology sector,” Tom Geisel, Sterling's corporate banking president, said in the release.

Hoesley and Roberts established the innovation banking group at CIBC Bank USA in 2014. Roberts was a technology banker with Wells Fargo Securities and RBC Capital Markets before joining Hoesley at CIBC.

Hoesley previously led the Midwest region for Silicon Valley Bank and was a partner at Prism Capital, a middle-market provider of venture capital and mezzanine debt.

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