Strategy
Ex-HSBC Private Banker Behind Manhattan Private Bank
Leslie Baines, the former head of HSBC Private Banking business in the US, is behind a major new private banking launch in the US. Ms Bai...
Leslie Baines, the former head of HSBC Private Banking business in the US, is behind a major new private banking launch in the US.
Ms Baines along with a group of investors including US football legend Joe Montana have formed Modern Bank that plans to target high net worth clients by “invitation only”.
The bank has recruited 30 employees and more than $200 million in assets under management, according to press reports.
A group of investors acquired an existing bank, Excel Bank, and used its national charter to form Modern.
Other names behind the bank include its chairman Bippy Siegal, chief executive of venture firm Raycliff Capital and holder of a 39 per cent stake.
The bank's chief executive is Anthony Burke, former chief operating officer of New York Community Bancorp.
Ms Baines will be head of Modern Private Bank.
