Long Island Financial Briefs: November 29, 2002

Long Island Business News, Nov 29, 2002 by Claude Solnik

Roslyn Bancorp Inc., the parent company of the Roslyn Savings Bank, has increased its earnings projections for 2003, driven by strong performance of its branches and an aggressive de novo branching plan.

The Jericho-based bank Nov. 13 at a conference sponsored by Manhattan-based investment bank Sandler O'Neill & Partners upped its earnings projections for calendar 2003 to $1.95 to $1.98 per share.

That's 6 cents to 9 cents better than the Thomson First Call consensus of $1.89 and even further ahead of its 2002 earnings projections of $1.76 to $1.78 per diluted share.

"We believe Roslyn is continuing to meet the challenges of our industry and the current rate environment," Roslyn CEO Joseph Mancino said. "Retail growth continues to be the catalyst that enables Roslyn to consistently exhibit double-digit growth in earnings per share."

Roslyn, which had $10.8 billion assets as of Sept. 30, operates 35 branches in Nassau, Suffolk, Brooklyn, Queens and the Bronx.

Mancino at the conference also said the bank expects to originate $1.7 billion to $2 billion in loans, primarily for apartment buildings. Roslyn also expects deposits to surge by 20 percent, driven by new branches and organic growth at existing branches.

The company also expects to record about $2 million in revenue from its Mount Sinai joint venture with the Holiday Organization.

Chase puts Levine at helm of U.S. school loans

JPMorgan Chase Bank has put Jeffrey H. Levine, an executive based in Garden City, at the helm of its education loan business.

Chase, the largest provider of education loans in the United States, named him senior vice president and business executive of its student loan business,

The company said Levine assumes his new responsibilities in addition to his current role as senior vice president and general counsel for Chase Automotive Finance, where he has served since first joining Chase in 1993.

Levine will manage both businesses from the company's Long Island headquarters in Garden City.

"We have a great franchise in Chase Education Finance and terrific relationships with more than a thousand schools across the country," Levine said.

The former manager of the education loan business, Leigh-Anne Walker, has taken a position as a senior manager in financial administration for Chase's retail and middle market financial service business unit.

Chase Education Finance annually provides loans to more than 500,000 students and their families nationwide. Chase Education Finance is a unit of JPMorgan Chase Bank.

Holtz Rubenstein's Howard Weiner takes reins at DFK

Holtz Rubenstein audit partner Howard Weiner has been named president of DFK/USA, the U.S. division of DFK International, a worldwide association of independent accounting and business advisory firms.

He was elected to that position several weeks ago, placing him at the helm of the U.S. arm of an organization that seeks to create a global network of accountants.

Melville-based Holtz Rubenstein is the only Long Island-based firm in DFK International, which includes 179 firms in 72 nations. DFK/ USA includes 30 firms.

"Our affiliation with DFK International is important, because it provides services to our clients that other firms might not be able to offer," said Flo Federman, marketing director for Holtz Rubenstein. "It gives our clients access to information throughout the United States, Canada, Europe, Asia, Mexico and other parts of the world."

Through DFK International, accounting firms refer clients to other firms in regions where they may have or hope to do business.

Holtz Rubenstein, one of the largest Long Island-based accounting firms, employs 85 people in Melville.

HSBC snags Citi exec for Commack

Sometimes companies bring in talent from far away. Sometimes, they find it close to home, as HSBC Bank USA did recently.

HSBC Bank USA last week said it hired Quentin Franco, manager of Citibank's Commack branch, to mange its own Commack branch.

Franco, who was also named a vice president, reports to Joel Barnett, senior vice president and district executive for Suffolk County.

Franco graduated with a degree in business administration from St. John Fisher College in Rochester. He lives in Stony Brook with his wife, Loretta, and their three children.

HSBC Bank USA, a subsidiary of London-based HSBC Holdings has more than 410 branches in New York State, including 45 in Nassau and Suffolk counties.