Signature Bank announced that Frank Marsicano was named vice president/business development officer, joining Robert Love’s recently appointed asset-based lending team.
Love, senior vice president and group director, and his four-person team joined Signature Bank in September 2013, marking its entry into the asset-based lending arena.
In this newly created position, Marsicano, with more than two decades of asset-based financing and credit analysis experience, will focus on generating direct middle market loans and participations.
Marsicano, who has worked with Love at several other financial institutions, joins from Amalgamated Bank, where he served as first vice president and new business development officer at the New York City headquarters. Previously, Marsicano served as vice president, portfolio management at Webster Business Credit, where he was responsible for underwriting direct and indirect asset-based loans. He also monitored more than $100 million in commitments, tracked daily activity and addressed credit issues.
Prior, Marsicano was vice president in CIT Group’s Credit Risk Management and Commercial and Industrial loan underwriting units. He analyzed credit risk exposure of the firm’s $52 billion commercial loan and lease portfolio and also underwrote transactions ranging in size from $15 to $300 million. Earlier, he was assistant vice president, Portfolio Management at AmSouth Capital.
“The addition of Frank to our team, which now totals five dedicated asset-based lending professionals, was an important strategic move as his expertise will round out our talented group. Frank and I have worked together for two decades, during which time we established a reputation for building and successfully managing asset-based businesses at other institutions,” explained Love.
“I am looking forward to the contributions I will make in my business development role, and I am pleased to be part of the Bank’s new asset-based lending initiative. Having worked with Bob and the team previously, we are well positioned to continue our track record of success at Signature Bank by providing creative lending structures and highly personalized services to lower-middle market companies,”