Out at Lydian Private Bank, wealth management banker Cary Putrino joining Fifth Third Bank
Prominent area banker Cary Putrino's back in the banking business after resigning earlier this month from his regional president's job in Tampa at Lydian Private Bank just before the Palm Beach-based Lydian failed and was taken over by Miami's Sabadell United Bank. Lydian catered to the wealthy but had money management problems of its own, including severely challenged capital levels far below what regulators require. In this region, Lydian had one banking office in Tampa. Read more about Lydian's problems here and about its takeover by Sabadell, a Spain-based bank, here and here.
Putrino will join Fifth Third Bank in Tampa Bay and the official announcement should be out Wednesday by the Cincinnati-based Fifth Third.
-- Robert Trigaux, Business Columnist, St. Petersburg Times