First Foundation, a financial services firm providing investment management, wealth planning, trust and banking services to HNWIs and businesses, has introduced a new specialty deposits solution.
The new solution offers cash management solutions for commercial clients including public works and construction contractors, commercial property management, title and escrow companies, homeowners associations, and 1031 exchange accommodators.
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The specialty deposits group of First Foundation Bank aims to focus on niche markets that require an expertise beyond traditional banking products.
The group will also develop customized treasury solutions to manage cash flow, help streamline operations, and to protect clients from transactional risks.
A part of the move, the firm has hired Anita Young as SVP, director of Specialty Deposits.
In his new role, he will be responsible for leading the specialty deposits group. He has previously worked as SVP for Umpqua Bank, where he led its specialty deposits group for California markets. Young has over 25 years of experience in financial services.
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By GlobalDataBased at the firm’s Palm Desert office, Young will serve the entire network of First Foundation’s eight geographic locations.
First Foundation CEO Scott Kavanaugh said: "As we continue to enhance our platform to better serve our clients, we are thrilled to offer a solution for commercial clients that have unique needs for specialty deposit accounts."
