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Citizens Financial Group in Providence, R.I., has formed a health care banking group for Massachusetts, Connecticut and Rhode Island, according to a news report.
March 20 -
Opus Bank in Irvine, Calif., said Tuesday it has formed a unit within its commercial banking division that will lend money to physicians, dentists, veterinarians and ophthalmologists for practice deals, equipment financing and other capital needs.
May 14 -
Stimulus spending and Obamacare are making health care a viable way for banks to diversify their loan portfolios.
January 25
The wealth-management arm of U.S. Bancorp (USB) in Minneapolis has added a former Mayo Clinic executive to its health care team.
Kenneth Palattao, 48, has been named vice president and health care banking specialist for The Private Client Reserve of U.S. Bank, the company said in a press release Tuesday. Before assuming his current role, Palattao was vice president of operations and surgical services at the Mayo Clinic Health System in Rochester, Minn. Previously he had been executive director of Pediatric Surgical Associates and regional director at Park Nicollet Clinic Health Services; both organizations are located in the Twin Cities area.
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Palattao "will bring firsthand experience on the day-to-day financial management of a health care practice" to his new role, the release said. The health care team specializes in providing medical professionals and health care practices with lending, investment management and financial planning services.
A number of banks have taken steps to build up health care units and other specialty industry groups in recent years.
