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Signature Bank launches business to serve venture capital firms

Apr 16, 2019 - American Banker

Signature Bank in New York has formed a group to serve venture capital firms and their investments.

The $47 billion-asset company said in a press release Monday that it had hired a 24-person team led by Ken Fugate, who co-founded Square 1 Bank in 2005. The entire team comes from Square 1, which was sold in 2015 to PacWest Bancorp.

After Square 1's sale, Fugate's team largely focused on technology and life sciences firms.

"Technology and life sciences are both vibrant business s...