Signature Bank.

Signature Bank announced the appointment of its 50th banking team and 63rd group director. Concurrently, the bank announced its intent to open a new office in the Borough Park section of Brooklyn, N.Y.

The new team joins Signature Bank from J.P. Morgan Chase in Borough Park, and will be headed by newly appointed group director and senior vice president Teresa Pellegrino-Hoefel.

Pellegrino-Hoefel, who spent 33 years in various roles at J.P. Morgan, dedicated the past 20 to catering to clients in Borough Park and its neighboring communities. Most recently, she served as a Small Business Relationship Manager. Her primary expertise lies in serving real estate and non-profit entities.

Also joining the new Borough Park team is Michael Donohoe, who was named associate group director and vice president. Donohoe worked with Pellegrino-Hoefel for the past four years as an assistant vice president and Small Business Relationship Manager. He specializes in serving real estate management firms and the health care industry.

Pellegrino-Hoefel and her team will work from Signature Bank's 26 Court Street office until the opening of its Borough Park office, which is expected to be in the fall of 2007.