The Huntington National Bank has added four former Signature Bank subscription lending pros previously reported by Private Funds CFO to be moving to a regional bank to start a new lending platform, along with six more of their colleagues from Signature.
Brad Boland will lead the full team, based in Charlotte, North Carolina and New York City, as senior managing director, according to his LinkedIn profile.
Columbus, Ohio-based Huntington is also bringing on Charlie Owens and William Runkle as managing directors, while Brian Williams joins as a director, all in the fund finance group under Boland’s lead in Charlotte.
The fact that the four were moving, though to an unknown bank in Charlotte, was previously reported by PFCFO.
The six additional hires not previously reported include Brian Schneider, who joins as senior managing director; Kevin Castellano, vice-president and Kaylin Szigety, née Searles, vice-president. Taking analyst or middle-office roles are Frank Castiglione, senior associate; Steven T Zuckerman, associate and Kevin Chiu, whose title could not be immediately determined.
The move of 10 Signature bankers to a new platform represents a potentially major development for the fund finance industry, which has experienced supply constraints exacerbated by the upheaval following the collapses of Silicon Valley Bank and Signature (SVB was later bought by First Citizens Bank) and the rescue acquisition of First Republic Bank.
The future of SVB’s and FRB’s respective sub line programs is unclear. The future of Signature’s portfolio of fund finance, held by a bridge bank set up by the Federal Deposit Insurance Corporation, is also presently unclear.
A spokesperson for Huntington did not immediately respond to a request for comment, and the bankers could either not be reached or did not respond to requests for comment by PFCFO.