Customers Bank hired Joseph M. Pennini as managing director and head of fund finance. Pennini will seek to expand the bank’s private equity lending practice and grow its treasury services business as part of its continued national expansion effort.
“We are delighted to have Joe lead the bank’s coverage of private equity and hedge fund clients. Customers Bank is making a targeted effort to expand its fund finance business and, at the same time, deepen relationships with existing clients,” Lyle Cunningham, executive vice president and chief lending officer at Customers Bank, said. “This market is underserved and is an area of strategic growth for the bank. We look forward to leveraging Joe’s extensive experience, knowledge and industry contacts as we continue to expand our portfolio of commercial banking services.”
Pennini has held various investment banking and corporate banking roles at bulge bracket banks, including J.P. Morgan, where he launched global corporate banking coverage of alternative asset managers. Pennini will report to Cunningham in his new role with Customers Bank.
Marya Savola will join Pennini’s fund finance team as vice president and credit portfolio manager. Prior to joining Customers Bank, she served as a relationship manager within J.P. Morgan’s FIG funds group.
Oleg Karaman will round out the fund finance team. Karaman, who joined Customers Bank as a senior vice president in 2018, has more than 15 years of commercial banking and treasury service sales experience. Karaman is responsible for treasury services origination and relationship management.