IDB BANK APPOINTS KENNETH SAVIO AS NEW CEO OF IDB CAPITAL

Savio joins IDB with more than 25 years of experience in the investment banking industry

NEW YORK, July 14, 2022 /PRNewswire/ -- IDB Bank, a New York-based private and commercial bank, announced Ken Savio as President & Chief Executive Officer (CEO) of IDB Capital, IDB Bank's broker-dealer subsidiary. As CEO, Savio will oversee the growth of IDB Capital as the Bank expands its wealth management business. He will also serve as a member of the IDB Senior Management Team and will report to Ziv Biron, IDB Bank's President & CEO.

A seasoned leader with more than 25 years of experience in the financial services industry, Savio has successfully led several broker-dealer entities, most recently serving as CEO of Olivetree Financial Group's U.S. business. In this role, he was responsible for regional management and development of the firm's U.S. equities business as well as expanding the firm's US growth strategy. Prior to his tenure at Olivetree, he held similar senior management roles at Macquarie, Cantor Fitzgerald and Bear Stearns & Cos., Inc.

"We are thrilled to bring Ken on as IDB Capital's CEO," said IDB Bank President & CEO Ziv Biron. "Ken's extensive leadership experience and deep industry knowledge will be invaluable in driving our wealth management business as we continue to bring forward leading capabilities to serve our clients." 

IDB Capital offers personalized wealth management products and services to high-net worth domestic and international clients.  IDB Capital makes available a full-range of brokerage products and services including but not limited to retirement planning, equities, fixed income instruments, mutual funds and alternative products.

"IDB Capital's impressive growth continues to showcase the invaluable importance of relationship-first practices in financial services," said Savio. "Our clients believe strongly in our customer-first focus, and IDB Capital is no exception. I'm excited to join the team and bring my own experience to the table as we grow the business together and continue furthering IDB's vision and promise to make wealth management personal."

Savio is a graduate of Fordham University, where he received his BA in Political Science and MBA in Finance.

About Israel Discount Bank of New York ("IDBNY" or "IDB Bank")
IDB Bank is a New-York State-chartered commercial bank, a member of the FDIC, and a wholly owned subsidiary of Israel Discount Bank LTD., one of Israel's leading banks. In addition to its Manhattan headquarters and branch offices in Brooklyn, N.Y, Staten Island, N.Y and Short Hills, N.J, the Bank maintains other full-service branches in South Florida and Southern California. The Bank provides a complete range of private banking and commercial banking services to U.S and international clients.

For 70 years IDB Bank has built its business by fostering deep relationships with its clients, rapid decision-making, and the ability to develop custom-tailored solutions for both its domestic and international clientele. To learn more about IDB Bank visit www.idbny.com

IDB Bank is a registered service mark of Israel Discount Bank of New York. MEMBER FDIC.

SOURCE IDB Bank