Emigrant Bank
Emigrant Bank is a privately held, FDIC-insured New York bank founded in 1850 that provides retail and mortgage banking, wealth management, family office services, and art advisory to HNW/UHNW clients, families, and New York-area retail customers.
- Company typePrivate
- Founded1850
- HeadquartersNew York, United States
- Headcount1,001–5,000
- GTM typeB2C
- OfferingServices
What Emigrant Bank does
Emigrant Bank (legal name Emigrant Savings Bank) is a privately held, FDIC-insured New York bank founded in 1850 by Irish immigrants as a mutual savings institution. It operates a multi-line financial services platform that includes traditional retail and mortgage banking (deposits, savings, Emigrant Mortgage), an integrated wealth management and family office capability built around HNW/UHNW clients, specialized art advisory covering acquisition, sale, planning, and art-backed lending, and small business grant administration through its wholly owned subsidiary Emigrant Funding Corporation.
The bank has pursued a deliberate strategy to move upmarket into family office services, most visibly through its March 2026 majority acquisition of Fortis Management Group and the simultaneous launch of the Emigrant Family Office sub-brand. Fortis contributes multi-generational learning, family governance design, and human-capital development capabilities, augmented by senior hires such as Managing Director Tyler Kelley (ex-Goldman Sachs, Evoke Advisors, Bel Air Investment Advisors) and Director of Family Education & Governance Genine Iffla. Under Chairman Liz Nesvold and CEO Howard Milstein, the bank is repositioning itself as a relationship-manager-driven wealth franchise layered onto its long-established deposit and mortgage base.
Its revenue mechanics span recurring banking fees, net interest income from deposits and mortgages, subscription-style wealth management advisory fees, professional services revenue from art advisory, and grant administration through a Federal Home Loan Bank of New York partnership. Core technology is not publicly disclosed, and no proprietary AI/ML or platform architecture details are available; the bank's go-to-market is enterprise field sales targeting wealthy families, with traditional bank branches supporting the broader retail base in the New York metropolitan area.
Emigrant Bank firmographics
Firmographics- Name
- Emigrant Bank
- Legal name
- Emigrant Savings Bank
- Website
- https://emigrant.com
- Company type
- Private
- Founded year
- 1850
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- Emigrant Bank is a privately held, FDIC-insured New York bank founded in 1850 that provides retail and mortgage banking, wealth management, family office services, and art advisory to HNW/UHNW clients, families, and New York-area retail customers.
- Ownership category
- akta.pro rank
Emigrant Bank industry classification
Industry- Product category
- Retail Banking
- NAICS
- Savings Institutions and Other Depository Credit Intermediation (52218)
- SIC
- Savings Institutions, Not Federally Chartered (6036)
- akta.pro primary industry
- Mutual Savings Banks & Mutual Thrifts (FSABAEAD)
Keywords
Where Emigrant Bank is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Markets served
Emigrant Bank business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Banking and Financial Services: Traditional banking services including deposits, mortgages, and general financial services for retail and commercial customers.
- Wealth Management and Family Office Services: Comprehensive wealth management services for high-net-worth and ultra-high-net-worth clients including investment advisory, estate planning, and family governance services.
- Art Advisory Services: Specialized art advisory services for clients with substantial art collections, including acquisition, sale, planning, and art-backed lending, integrated into broader wealth and estate management strategies.
- Small Business Grant Administration: Through Emigrant Funding Corporation, the bank administers small business grants to underserved communities as part of Federal Home Loan Bank of New York's program.
Go-to-market motion2 records
Distribution channels1 record
Emigrant Bank product offering
Product offeringCore offering
Emigrant Bank operates as an FDIC-insured savings bank offering traditional retail and commercial banking products including deposit accounts and mortgage lending. It also delivers wealth management, family office services (via the Emigrant Family Office platform built on the Fortis Management Group acquisition), and specialized art advisory services for high-net-worth and ultra-high-net-worth clients. Small business grants are administered through its Emigrant Funding Corporation subsidiary under a Federal Home Loan Bank of New York partnership.
Product overview
Emigrant Bank operates as a traditional banking institution offering a platform of financial services including FDIC-insured savings accounts, mortgage lending, and wealth management. Following its recent acquisition of Fortis Management Group, the bank has expanded into specialized family office services through its new Emigrant Family Office sub-brand, targeting high-net-worth and ultra-high-net-worth clients. The bank also provides art advisory services for wealthy clients with substantial art collections and small business grants through its Emigrant Funding Corporation subsidiary.
Differentiator
Problem solved
Functional benefit
Brands
- Emigrant Family Office: Specialized family office services platform designed to deliver services to wealthy families and their advisors, launched following the acquisition of Fortis Management Group.
Products and services
- Emigrant Mortgage Mortgage lending product offering competitive rates to existing Emigrant customers and new applicants in the New York metropolitan area, available through an online rate inquiry portal on the bank's website.
- FDIC-Insured Deposit Accounts FDIC-insured savings and deposit accounts offered by Emigrant Savings Bank, backed by the full faith and credit of the U.S. Government, targeted at retail banking customers.
- Art Advisory Services Specialized art advisory services for high-net-worth clients with substantial art collections, including acquisition, sale, planning, and art-backed lending, integrated into broader wealth and estate management strategies.
- Emigrant Family Office Specialized family office services platform delivering investment advisory, estate planning, family governance, family education, and human-capital development services to high-net-worth and ultra-high-net-worth families and their advisors, integrating capabilities from the acquired Fortis Management Group.
- Small Business Grants (via Emigrant Funding Corporation) Small business grant administration services for local businesses and nonprofits in the New York metropolitan area, particularly those in underserved communities, administered through Emigrant Funding Corporation under the Federal Home Loan Bank of New York's program.
Companies that use Emigrant Bank
Customer profileSegments3 records
Ideal customer profiles4 records
Emigrant Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Emigrant Bank partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered minor and core.
- Genine Iffla (formerly Independent Means)minorGenine Iffla was appointed as Director of Family Education & Governance at Fortis Management Group following Emigrant Bancorp's majority investment. She brings over a decade of experience designing family education programs from her prior role at Independent Means.
- Fortis Management GroupcoreEmigrant Bancorp acquired a majority stake in Fortis Management Group and simultaneously launched Emigrant Family Office, a platform designed to deliver specialized family office services to wealthy families and their advisors.
- Federal Home Loan Bank of New YorkcoreEmigrant Bank partners with the Federal Home Loan Bank of New York to provide small business grants to local businesses and nonprofits in underserved areas. Emigrant Funding Corporation, a subsidiary of Emigrant Bank, administers these grants as part of this partnership.
Scale indicators1 record
Recent moves7 records
Expansion highlights5 records
Emigrant Bank competitors and assessment
Company assessmentDirect peers
- Northern Trust: Northern Trust is a leading wealth management and family office services provider serving HNW and UHNW families globally — directly comparable to Emigrant Family Office in target client, service scope, and multi-generational wealth focus.
- Bessemer Trust: Bessemer Trust is a dedicated multi-family office for UHNW families offering investment management, estate planning, and family governance — closely mirroring Emigrant's Fortis-acquired capabilities.
- BNY Mellon Wealth Management: BNY Mellon Wealth Management serves HNW/UHNW clients with family office, investment management, and trust services — directly comparable in service suite and target segment to Emigrant's wealth platform.
- Apple Bank: Apple Bank is a New York-based mutual savings bank offering deposits, mortgages, and consumer banking — comparable to Emigrant's original mutual savings bank heritage and New York operating footprint.
Broad incumbents
- Citi Private Bank: Citi Private Bank serves UHNW clients globally with comprehensive wealth advisory and is explicitly named alongside Emigrant as a competitor in art advisory services for high-net-worth collectors.
- Bank of America Private Bank: Bank of America Private Bank is a major incumbent explicitly cited as a competitor to Emigrant in art advisory services for HNW clients with substantial collections.
- Goldman Sachs Private Wealth Management: Goldman Sachs Private Wealth serves UHNW families with bespoke advisory — directly comparable to Emigrant's target segment and is the prior employer of newly hired Managing Director Tyler Kelley.
- JPMorgan Private Bank: JPMorgan Private Bank is one of the largest global private banks serving HNW/UHNW clients with integrated lending, investing, and family office services — a dominant incumbent against which Emigrant must compete for talent and clients.
- Wells Fargo Private Bank: Wells Fargo Private Bank provides wealth management, trust, and private banking services to HNW clients — a broad incumbent competing in the same U.S. private banking segment as Emigrant.
- PNC Wealth Management: PNC Wealth Management and PNC Private Bank offer wealth advisory and family office-style services to HNW clients across the U.S. — a comparable wealth management incumbent with broader geographic reach than Emigrant.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
Emigrant Bank social profiles
Digital presenceEmigrant Bank compliance and trust
Trust signalCompliance1 record
Emigrant Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Emigrant Bank leadership team
Management profileNumber of profiles
Profiles6 records
Emigrant Bank subsidiaries and ownership
Company hierarchySubsidiaries3 records
Emigrant Bank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Emigrant Bank M&A and investment
M&A and investmentM&A2 records
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Emigrant Bank
What does Emigrant Bank do?
Emigrant Bank operates as an FDIC-insured savings bank offering traditional retail and commercial banking products including deposit accounts and mortgage lending. It also delivers wealth management, family office services (via the Emigrant Family Office platform built on the Fortis Management Group acquisition), and specialized art advisory services for high-net-worth and ultra-high-net-worth clients. Small business grants are administered through its Emigrant Funding Corporation subsidiary under a Federal Home Loan Bank of New York partnership.
Is Emigrant Bank a public or private company?
Emigrant Bank is a private company. It is classified as unknown and is currently operating.
When was Emigrant Bank founded?
Emigrant Bank was founded in 1850. It employs 1,001 to 5,000 people.
Where is Emigrant Bank based?
Emigrant Bank is headquartered in New York, United States, in the North America region.
How does Emigrant Bank make money?
Four revenue lines are on record. Banking and Financial Services are the primary driver. The others are wealth Management and Family Office Services, art Advisory Services and small Business Grant Administration.
Who are Emigrant Bank's main competitors?
Direct peers on record are Northern Trust, Bessemer Trust, BNY Mellon Wealth Management and Apple Bank. Broad incumbents are Citi Private Bank, Bank of America Private Bank, Goldman Sachs Private Wealth Management, JPMorgan Private Bank, Wells Fargo Private Bank and PNC Wealth Management.
Does Emigrant Bank have an API?
No public API is recorded for Emigrant Bank.
What industry is Emigrant Bank in?
Emigrant Bank's product category is Retail Banking. Its primary akta.pro industry code is FSABAEAD, Mutual Savings Banks & Mutual Thrifts. Its NAICS code is 52218 and its SIC code is 6036.