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The private-equity firm Lovell Minnick Partners has invested $50 million in TriState Capital Holdings in Pittsburgh.
August 21
As TriState Capital Bank's new market president in New York, Thomas Gilmartin says he's busily putting together a team of seasoned bankers, "25-year veterans who have been in the market." In other words, bankers a lot like him.
Gilmartin, a native New Yorker with nearly 30 years in the industry, worked for Fleet Bank and Commerce Bank (pre- and post-merger with TD Bank) before joining up with Pittsburgh-based TriState, which formed in January 2007 and has grown to $1.9 billion in assets, along the way expanding into Ohio, New Jersey and now New York.
His New York team will focus mainly on the middle market-manufacturers, wholesalers and other credits that he says "the big players don't want and the small players can't do," Gilmartin says.
He says it's part of TriState's culture to focus hiring efforts on bankers with at least a couple decades of experience for underwriting jobs. But on the portfolio side, he's interviewing pups with eight to 10 years of experience.
