- Dime Community Bancshares (DCOM, Financial) launches a new Lender Finance vertical.
- Jason Brenner and Zack Schwartz appointed as Co-Heads of the division.
- The new vertical will service private equity and private credit clients.
Dime Community Bancshares, Inc. (NASDAQ: DCOM), the parent company of Dime Community Bank, has announced the creation of a new Lender Finance vertical. The division will be led by Jason Brenner and Zack Schwartz, both of whom bring extensive experience from their previous roles at AXOS Bank and First Citizens Bank, respectively. This strategic addition aims to enhance Dime's commercial lending portfolio and will focus on serving private equity and private credit clients.
The establishment of the Lender Finance vertical represents the company's fifth distinct lending category, joining existing divisions in Healthcare, Mid-Corporate, Fund Finance, and Not-For-Profit Lending. The new vertical underscores Dime's commitment to diversifying its commercial lending business, leveraging Brenner and Schwartz's expertise to deepen its focus in this area.
Commenting on the appointments, Stuart H. Lubow, President and CEO of Dime, stated, "We are excited to have Jason and Zack join our team. Their leadership will play a crucial role in advancing our lender finance initiatives." Shawn Gines, Executive Vice President of Corporate and Specialty Finance, will oversee the new division, which will be headquartered in Manhattan.
Dime Community Bancshares, Inc., with over $14 billion in assets, holds the top deposit market share among community banks in Greater Long Island. The company's initiative to diversify its lending verticals aligns with its strategic vision to broaden its client offerings and foster future growth.
