• Signature Bank announces leadership transition plans, with Joseph J. DePaolo transitioning into a senior advisor position and Eric R. Howell assuming the role of President.
• DePaolo has been President and Chief Executive Officer since the bank’s opening in 2001.
• Howell has served as Chief Operating Officer for the past two years and previously held various roles of increasing responsibility at Signature Bank since 2001.
Signature Bank Announces Leadership Transition Plans
Signature Bank (Nasdaq: SBNY), a New York-based, full-service commercial Bank announced today Co-founder, President and Chief Executive Officer Joseph J. DePaolo plans to transition into a senior advisor role during 2023. Chief Operating Officer Eric R. Howell will succeed DePaolo as President, effective March 1, 2023.
Joseph J DePaolo’s Role
DePaolo retains the Chief Executive Officer role and also will remain on the Bank’s Board of Directors. In addition, Howell will continue serving as Chief Operating Officer and a member of the Board of Directors. Once DePaolo gradually completes his transition into this newly created advisory role, Howell will also be named Chief Executive Officer at that time. This succession plan is an integral part of a long-standing commitment by the Board of Directors to ensure Signature Bank’s distinctive business model continues to thrive and differentiate without interruption.
DePaolo’s Career Highlights
DePaolo, along with colleagues Vice Chairman John Tamberlane and Chairman of the Board Scott Shay, co-founded Signature Bank in 2001. Throughout the past 22 years, DePaolo has been credited with developing and executing Signature Bank’s differentiated single-point-of-contact banking model since its inception as a de novo start-up institution in the New York metropolitan area. During his tenure, DePaolo led the Bank to become one of the nation’s top 25 largest banks without any acquisitions or mergers taking place throughout this process organically..
Eric R Howell’s Career Highlights
Howll has been serving as Senior Executive Vice President and Chief Operating Officer for the past two years He joined Signature Bank at its founding as Controller since then he held various roles such as: Executive Vice President – Corporate and Business Development (2013) where he successfully launched various national business lines; expanded Signature Banks footprint to include West Coast; Executive Vice President & Chief Financial Officer (2022). In that same year he succeeded Tamberlane as a member o fthe board o directors becoming COO/CFO respectively..
Conclusion
This succession plan is key for maintaining continuity within signature Banks business model while ensruing its success both now adn in te future under new leadership