NEW YORK, Aug. 11 /PRNewswire/ -- Amalgamated Bank has named Patrick O'Sullivan, 42, to the position of Executive Vice President and Director of the Institutional Asset Management and Custody Division. In his new post, Mr. O'Sullivan will be responsible for managing all facets of the division's operations. He is also charged with further enhancing the unit's profitability and operating efficiency, expanding its range of product offerings and developing new marketing strategies to strengthen and broaden the customer base.
Mr. O'Sullivan will report to Amalgamated's President and Chief Executive Officer Derrick D. Cephas. Mr. O'Sullivan, who has extensive domestic and international experience in the investment management business, has positioned a number of investment businesses for growth by increasing revenue, creating new product concepts and improving profitability.
"Patrick brings a deep and global view of the asset management marketplace to Amalgamated Bank," said Mr. Cephas. "He knows the challenges that an institutional money manager faces in competitively positioning, growing and servicing such large clients as pension, health and welfare funds. More importantly, Patrick has the leadership abilities to significantly raise our profile in the marketplace by expanding as well as improving our institutional investment and trust services capabilities."
Prior to joining Amalgamated, Mr. O'Sullivan spent seven years at UBS Global Management. At UBS, he held senior level positions including Managing Director of the Global Strategic Planning Department in London. While based in Tokyo, Mr. O'Sullivan was CEO of UBS's business in Japan and head of Business Development in the Asia-Pacific region. Most recently, he ran the North American operations of UBS's new Infrastructure Asset Management unit in New York.
Before working with UBS, Mr. O'Sullivan served as a Senior Manager in Corporate Finance and Audit at Deloitte & Touche's offices in London and New York.
Mr. O'Sullivan received his MBA from The Wharton School at the University of Pennsylvania and he earned a Bachelor of Science in Accounting from St. John's University. He is a member of the American Institute of Public Accountants.
About Amalgamated Bank
Amalgamated Bank is one of the leading providers of investment and trust services to Taft-Hartley plans in the United States. The Institutional Asset Management and Custody Division provides distinct advantages to labor affiliated pension fund investors. The Division understands the challenges that plan trustees face in managing the assets of large pension, health and welfare funds. As a result, Amalgamated delivers a much higher level of client-focused service.
Established in 1923 by the Amalgamated Clothing Workers of America, Amalgamated Bank continues the progressive traditions of its founders as the only 100 percent union-owned bank in the United States. Chartered by New York State, Amalgamated Bank is a FDIC insured commercial bank with $4.5 billion in assets. The Bank's corporate divisions also include Commercial Banking and Commercial Real Estate.
Amalgamated has 21 retail branches including 15 in New York City as well as branches in: Las Vegas, Nevada; Lyndhurst, New Jersey; Pasadena, California and Washington, D.C. The Bank's website is www.amalgamatedbank.com.
SOURCE Amalgamated Bank