Wayne-based Valley National Bancorp on Tuesday said it created the National Deposits Group to focus on core deposit banking relationships in the U.S. and select foreign territories. The group partners with businesses to help them meet their short-term liquidity needs.
The group brings decades of experience working in the financial industry to Valley. Martin Ball, head of national deposits, joined Valley from Bank OZK, where he was executive vice president and managing director of institutional banking. Glenn Carballo is the business development officer responsible for sourcing new relationships and partnerships, and Gail Balmaceda and Christian Sanchez have joined Valley as relationship managers handling the day-to-day relationship management of clients and their treasury management needs.
According to a news release, the National Deposits Group will specialize in sourcing deposits from several select industries, including 1031 exchange firms, attorney banking, escrow servicing, family offices, hedge funds, investment banks, private equity firms, property managers, title companies and venture capital firms.
“Through the National Deposits Group, Valley is creating and delivering innovative banking solutions for industries that require flexibility and best-in-class customer service,” said Tom Iadanza, executive vice president and chief banking officer. “Our experienced team leverages state-of-the-art technology to businesses that require short-term liquid cash management.”