Lydian · Palm Beach, FL United States ·(NASDAQ (GM): LYDN)
Company Description
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This link will open in a new window Lydian is the parent of Lydian Bank & Trust and its Lydian Private Bank division. The company focuses on high-net-worth investors in Florida, offering investments including custom hedge funds, wealth management, and alternative investments. It outsources its wealth management services to banks and brokers through subsidiary Fortigent. Subsidiary VirtualBank.com offers banking and mortgage services online and through a bricks-and-mortar residential lending office in Florida. Lydian sold its operations outside of Florida in 2007 to concentrate its efforts in that state. It also sold its Lydian Wealth Management subsidiary to City National Corporation . To read the full description, subscribe now.
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Key Lydian Financials
| Company Type | Private - NASDAQ (GM): LYDN Headquarters |
| Fiscal Year-End | December |
| Employees | 850 |
Lydian Executives
32 executives listed for Lydian's Palm Beach, FL location.
| Title | Name & Bio | Contact |
| Chairman and CEO | Rory Brown | Network |
| COO | Richard Bursek | Network |
| CFO | Brian Mahoney | Network |
Competition
Competitive Landscape for Lydian
Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to $300,000. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. To read the full description, subscribe now.Top Lydian Competitors
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