BCB Bank, located in New Jersey, has declared a significant restructuring of its operations, appointing a fresh executive to head its recently established BCB Capital Group (BCG) division.
Mark Noto has been designated as the new Chief Lending Officer, and David Garcia as the new Executive Vice President of BCG, the bank’s alternative lending branch. BCG will be concentrated on commercial mortgage dealings that are short-term, value-added, and opportunistic.
According to the news release from BCB, Noto and Garcia will be accountable to BCB’s President and CEO, Thomas Coughlin, and Senior Vice President and COO, Ryan Blake. The establishment of the new lending subsidiary is in response to the bank’s growing demand for value-add and interim financing requests.
Garcia stated that BCB Capital’s new initiative will enable their clients to better navigate market conditions and achieve their long-term objectives. This new endeavor strengthens BCB’s reputation as a progressive, growth-oriented, and inventive lender.
Having worked at Oritani Bank (now merged with Valley National Bank), UBS Investment Bank, and Daiwa Securities’ real estate finance group for nearly three decades, Garcia was appointed as BCB’s Chief Lending Officer in 2020, a role he held for two years before being selected as the Executive Vice President of BCB Capital Group.
In his new position, Noto will oversee all of the bank’s lending endeavors. Prior to joining BCB, he was the Head of Commercial Banking at Citizens Bank.
Coughlin expressed his satisfaction with Noto’s appointment, stating that they are delighted to welcome Mark to their team. His extensive background in C&I lending and finance, as well as his dedication to community banking, aligns with BCB’s mission. His leadership and proficiency will assist them in charting a course and navigating the landscape as they prioritize their current customer base and develop a constructive approach that offers greater clarity to business owners in these ambiguous economic times.
Noto commented that his strategy has always been uncomplicated – listen to your clients, comprehend their business, and provide them with the optimal solution that benefits both them and the bank. He decided to join BCB because he believes he can contribute positively. Their strong adherence to banking principles and their eagerness to expand the business made it an easy choice for him.
