New York-based Signature Bank has appointed three new private client banking teams in Long Island. The bank has also revealed to WealthBrief...

New York-based Signature Bank has appointed three new private client banking teams in Long Island. The bank has also revealed to WealthBriefing more details of its new ownership following the sale by Bank Hapoalim, its previous majority shareholder. Lee Frangos was appointed group director for the bank’s new Long Island office. He joins from Citibank, where he was a relationship manager. Also joining from Citibank are Henry Lajca, Geraldina Laszlo and Thomas Knierim. A number of other junior positions were also made at the bank. Bank Hapoalim sold its share in Signature Bank last March. A spokeswoman for the bank said: “The entire offering was taken, except for the over-allotment at this time. And there were major institutional shareholders that participated.” The spokeswoman was not prepared to elaborate on who the institutional shareholders were. Signature Bank has grown rapidly since it was founded in March 2001 and now has more than $1 billion of assets under management and a large private banking operations. It has built strong relations with New York’s wealthy Jewish community and is often been compared with the Republic Bank of New York in terms of these relationships. Republic Bank was taken over by HSBC in late 1999.