Sterling National Bank Adds to Its Growing Public Finance Business With the Hire of James Sult
MONTEBELLO, NY--(Marketwired - July 24, 2015) - Sterling National Bank, the principal subsidiary of Sterling Bancorp (STL), is expanding its presence in the U.S. private placement public finance market with the addition of Jim Sult, who will serve as Managing Director and Senior Vice President. Jim joins Sterling from Western Alliance Bank, where he founded their municipal finance business and acted as the primary Marketing Officer and client contact.
"We are thrilled to be expanding our service capabilities in public finance and welcoming Jim to the team," said Michael J. Horkey, Senior Managing Director and Team Leader of Public Finance. "Jim brings more than 25 years of experience in helping governments and non-profits solve their banking and financing challenges, and his expertise will help the team continue to provide the high-touch service that our clients have come to expect."
During his tenure at Western Alliance Bank, Jim sourced over $1 billion of municipal and non-profit loans, managed a team of sales professionals, and oversaw credit underwriting, funding, and portfolio management. A recognized industry expert, Jim has authored lending policies and credit underwriting procedures for municipal debt. He brings a broad range of experience that will support Sterling's mission of maximizing shareholder value by providing highly personalized service to its clients.
"Jim's addition to the team underscores Sterling's strategic growth in the public finance sector where he will help strengthen existing relationships and unearth new opportunities," said David S. Bagatelle, President of NY Metro Markets at Sterling. "We are excited to have Jim on board leveraging his expertise in sourcing capital as we continue to serve an expanding client base through our relationship-based delivery model."
About Sterling National Bank
Sterling National Bank, the principal subsidiary of Sterling Bancorp, specializes in the delivery of service and solutions to business owners, their families, and consumers in communities within the greater New York City area through teams of dedicated and experienced relationship managers. Sterling National Bank offers a complete line of commercial, business, and consumer banking products and services. For more information, visit www.snb.com.
Forward-Looking Statements
This release may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements may concern Sterling's current expectations about its future results, plans, operations and prospects and are subject to numerous assumptions, risks and uncertainties, including inflation; the effects of, and changes in, trade; changes in asset quality and credit risk; introduction, withdrawal, success and timing of business initiatives; capital management activities; customer disintermediation; and the success of Sterling at managing these risks. Other factors that could cause Sterling's actual results to differ from those indicated in forward-looking statements are included in the "Risk Factors" section of Sterling's securities filings with the Securities and Exchange Commission. The forward-looking statements included herein are only made as of the date hereof, and Sterling specifically disclaims any obligation to update these statements in the future.
