Sterling Bancorp Launches New Innovation Finance Group
MONTEBELLO, N.Y., Nov. 15, 2019 (GLOBE NEWSWIRE) — Sterling Bancorp (NYSE: STL), of which the principal subsidiary is Sterling National Bank, today announced that it has added veteran technology bankers John Hoesley and Josh Roberts to lead its newly created Innovation Finance Group.
The Innovation Finance Group will focus on providing a full suite of lending and banking products to growing technology companies across all stages of development, including asset-based solutions, recurring revenue-based revolving lines of credit, treasury management, foreign exchange and other solutions.“We are excited to establish a team that can meet the needs of the rapidly expanding technology sector,” said Tom Geisel, Sterling Corporate Banking President. “Under John and Josh’s leadership, we will provide a unique offering of efficient banking solutions to diversified companies and facilitate their ongoing growth and development.”Hoesley comes to Sterling from CIBC Bank USA where he and Roberts established the Innovation Banking group in late 2014. He previously led the Midwest region for Silicon Valley Bank and was a partner at Prism Capital, a middle-market provider of venture capital and mezzanine debt. Hoesley has an MBA from the J.L. Kellogg Graduate School of Management and a bachelor’s degree in Chemistry from The University of Illinois at Urbana-Champaign.Roberts brings nearly 20 years of banking experience to Sterling. He was a technology banker with Wells Fargo Securities and RBC Capital Markets before he and Hoesley launched CIBC’s Innovation Banking practice. Most recently, Josh was a senior technology underwriter for SunTrust. Josh earned a bachelor’s degree in finance from The University of Illinois at Urbana-Champaign and an MBA from The University of Chicago, Booth School of Business. About Sterling National Bank
Sterling Bancorp, of which the principal subsidiary is Sterling National Bank, specializes in the delivery of financial services and solutions for small to mid-size businesses and consumers within the communities we serve through a distinctive team-based delivery approach utilizing highly experienced, fully dedicated 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.STERLING NATIONAL BANK:Luis Massiani
Chief Financial Officer