Banesco USA, a prominent Florida state-chartered bank with over $4.4 billion in assets, is significantly expanding its footprint in the Broward County market. The bank has established a new Loan and Deposit Production office in Plantation and plans to open a full-service branch there later this year, subject to regulatory approval. This strategic move is spearheaded by the addition of a seasoned four-person corporate banking team.
Key Takeaways
- Banesco USA has launched a new corporate banking team to drive expansion in Broward County.
- A new Loan and Deposit Production office has opened in Plantation, with a full-service branch planned.
- The expansion underscores Banesco USA’s commitment to serving South Florida’s diverse business community.
New Leadership and Team
The newly formed Broward banking team is set to be led by Senior Vice President Joshua Montagna, who will also serve as the Broward Market Executive. He is joined by Kimberly Cagiano and Matthew Kronfeld, both appointed as Senior Vice Presidents of Corporate Banking, and Livan Ruiz, who will take on the role of Customer Relationship Officer.
Calixto (Cali) Garcia-Velez, President & CEO of Banesco USA, expressed enthusiasm for the expansion, stating, "Given Banesco’s very successful history with clients who have business interests in the Broward market, expanding our presence with the addition of a Broward based team was the natural next step." He highlighted the team’s extensive experience as crucial for cultivating deeper client relationships and broadening banking services for the local community.
Experienced Professionals Driving Growth
The new banking team brings a wealth of combined expertise in relationship banking and is actively engaged in Broward’s civic and business circles.
- Joshua Montagna: With nearly two decades in financial services, Montagna will spearhead the bank’s corporate and commercial banking efforts in Broward. He holds an MBA in Finance from Nova Southeastern University and a Bachelor of Science in Finance and Entrepreneurship from Florida State University. He also serves on NSU’s Ambassadors Board.
- Kimberly Cagiano: Bringing over 30 years of banking experience, Cagiano will focus on providing strategic financial solutions to private sector corporate and commercial businesses. She is actively involved in the community, serving as board chair of ARC Broward and Junior Achievement’s Circle of Wise Women, among other roles. She holds degrees from Broward College and Bellevue University and is a graduate of the Leadership Broward program.
- Matthew Kronfeld: Kronfeld, with 18 years of experience in the Tri-County area, will concentrate on developing new corporate and commercial client relationships, with a particular emphasis on the Broward market. He earned a bachelor’s degree in finance from the University of Florida and sits on the board of directors for the Boys & Girls Club of Broward County.
- Livan Ruiz: As Customer Relationship Officer, Ruiz will be responsible for building and maintaining client relationships and ensuring their financing needs are met. He holds an academic degree from Miami Dade College.
Banesco USA’s Strategic Vision
Banesco USA offers tailored banking solutions and personalized customer service across various sectors, including commercial real estate, commercial and industrial businesses, and professional clients. The bank’s strategic growth plan includes continued investment in its Commercial & Industrial (C&I), Business and Professional (B&P), International, and Commercial Real Estate (CRE) lines of business. This expansion into Broward follows a successful entry into the Palm Beach County market in 2023, reinforcing the bank’s commitment to the dynamic South Florida business landscape.
Sources
- Banesco USA Adds New Corporate Banking Team to Lead Expansion into the Broward Market, Miami’s Community News.