Montecito Bank & Trust is pleased to announce that Peter Madlem has joined the bank as senior vice president and chief investment officer, reporting to Jeff Pittman, director of wealth management.
“We are excited to welcome Peter and know that given his local roots and over 25 years of investment and wealth management experience, he will make a significant contribution,” said President/CEO Janet Garufis. “His unique skills and talents take us to the next level in investment management. We feel very fortunate to have him join our team.”
Madlem has been affiliated with local financial services companies over the years and holds the professional designations of Chartered Financial Analyst (CFA) and Certified Investment Management Analyst (CIMA). He has authored several books and articles on investment strategies and is an accomplished composer of music with worldwide performances. Madlem is a longtime Santa Barbara resident, having received bachelor’s and master’s degrees from UCSB.
He is responsible for managing the bank’s own investment portfolio, and he oversees the investment committee for client portfolios. He is responsible for the strategies and tactics for asset allocation, securities selection and risk management. In addition, the Wealth Management Division’s five portfolio managers, four of whom are certified financial analysts, report directly to him.
“Peter is a well-known and respected leader in the investment industry, and his insights, leadership and expertise in managing client portfolios and complex relationships take us to the forefront in portfolio management,” Pittman said. “He recognizes that individual and institutional investors demand and deserve efficient, proven and targeted solutions. Peter feels Montecito Bank & Trust has the capability to embody the future of investment management and that fits perfectly with our commitment to provide a very personalized, world-class experience for our clients.”
Madlem enjoys spending time with his wife and two children, and he is involved with local organizations including CALM (Child Abuse Listening & Mediation) and CAMA, as well as several professional affiliations.
Montecito Bank & Trust’s Wealth Management Division, with locations in Montecito, Solvang and Ventura, provides full investment management as well as trust and estate services for all branch markets. The bank has branches in Santa Barbara, Goleta, Solvang, Montecito, Carpinteria, Ventura and Westlake Village, with a second Goleta branch opening in January at Storke and Hollister avenues. The bank offers a variety of competitive deposit and lending solutions for businesses and consumers including: business loans and lines of credit, commercial real estate finance, SBA loans, consumer loans, credit cards, merchant services, online banking, mobile banking, and cash management.
Montecito Bank & Trust, an S Corporation, is a locally owned community bank founded in 1975. It is known for its ongoing support of the community through unique giving programs such as Anniversary GrantsSM and Community Dividends®, which annually gifts $1 million to more than 150 local nonprofits.
— Carolyn Tulloh is director of marketing for Montecito Bank & Trust.