Square 1 Bank Expands Presence in Bay Area With Key Hires

SAN FRANCISCO, Sept. 2, 2014 (GLOBE NEWSWIRE) -- Square 1 Bank, the premier banking partner to entrepreneurs and the venture capital community, today announced that it has added several key hires to its Bay Area team. The hires follow the May opening of Square 1's office in San Francisco's SoMa district and the bank's acquisition of Sand Hill Finance in late 2013.

Laurie Lumenti Garty joins as senior vice president, Startup Services, to lead the bank's efforts in developing new relationships with early stage companies in the Bay Area. Brad Smith joins the bank as senior vice president, Venture Capital Services. Based in Menlo Park, Smith will manage and develop relationships with venture capital firms throughout the region. The bank also hired Susan Tang as vice president, Global Treasury Management, and Rohit Goel as vice president and director of portfolio management for Square 1 Asset Management, Square 1 Bank's registered investment advisor.

"We are very pleased that through our consistent commitment to serving the needs of Bay Area entrepreneurs and their investors, we continue to attract some of the very best bankers in the industry," said Sam Bhaumik, executive vice president and leader of the bank's Northern California region. "Our clients value our superior client service, creative debt solutions and access to senior bankers across our company. It is what sets us apart from our competitors."

Ms. Garty joins the Bay Area team with significant experience in the startup space, having held leadership positions at Comerica, Silicon Valley Bank and Wells Fargo. While at Wells Fargo, she launched and led a startup initiative and was instrumental in the creation of the recently-launched Wells Fargo Startup Accelerator. At SVB, she led the bank's early stage/pre-funded company practice. She was also a key contributor to the creation and development of the Halo Report on angel investing, along with the SVB Accelerator CEO Summit. "I've been very fortunate to spend much of my career helping and supporting entrepreneurs," said Garty. "Over the years, I have heard so many positive things about Square 1 Bank and its unique and innovative approach to working with startups. Joining the bank presents an incredible opportunity for me to help craft an experience for founders – one that hasn't quite existed before. I could not be more excited to be part of such a talented team that shares my vision and passion for serving this market."

With nearly 25 years of experience in the venture banking space, Brad Smith joins Square 1 from Wells Fargo's Venture Capital Services Group and predecessor bank Greater Bay Bancorp. There, he led the banks' efforts to grow relationships with venture capital and private equity firms along the West Coast. Prior to Greater Bay, Smith held several roles of increasing responsibility at Comerica. On joining Square 1 Bank, Smith added, "It is refreshing to be part of a team that embodies the entrepreneurial spirit. All across Square 1, you can feel everyone's passion for serving our clients. I am excited to bring my experience and expertise to the bank, as we continue to position ourselves as the best venture bank in the market."

Rohit Goel joins the Bay Area team with extensive experience in investment management, capital markets, corporate finance and treasury, having held portfolio and treasury manager roles at Black River Asset Management and VMware. Prior to Square 1, Susan Tang was vice president, Treasury and Trade Solutions at Citi, where she advised a portfolio of technology, media, consumer and industrials clients on treasury management solutions and best practices.

About Square 1 Bank

Square 1 Bank is a full service commercial bank dedicated exclusively to serving the financial needs of the venture capital community and entrepreneurs in all stages of growth and expansion. Square 1's expertise, focus and strong capital base provide flexible resources and unmatched support to meet our clients' needs. Square 1 has offices coast-to-coast in Austin, the Bay Area, Boston, Denver, Durham, Los Angeles/Orange County, New York, San Diego, Seattle, and Washington, DC. For more information, visit www.square1bank.com.

CONTACT: Media Contact: Square 1 Bank Dee McDougal 919.597.7479 dmcdougal@square1bank.com

Source:Square 1 Financial