Modern Bank ®
Board of Directors

Founder and Director

Bippy Siegal is the founder of Modern Bank, as well as the founder and chief executive officer of Raycliff Capital, a private equity firm that invests across a diverse set of sectors, including financial services, information technology, hospitality and real estate. He is also a principal of Crystal Energy Group, an oil and gas exploration company.

Mr. Siegal participates in a variety of philanthropic initiatives focused primarily on providing guidance, counseling and education for children. He is a member of The Council on Foreign Relations and serves as a trustee of Boston University.

Mitchell H. Caplan

Mitchell H. Caplan serves as Chairman of the Board of Modern Bank. Mr. Caplan is also a Managing Partner of Raycliff Capital, a private equity firm that invests across a diverse set of sectors, including financial services, information technology, hospitality and real estate.

Mr. Caplan most recently served as Chief Executive Officer of Jefferson National Financial, where he oversaw all aspects of the company’s growth strategy and which was sold in early 2017 to Nationwide. Under Mr. Caplan’s leadership, the company grew into one of the largest distributors of tax-advantaged investing solutions for registered investment advisors (RIAs), fee-based advisors and the clients they serve.

Previously, Mr. Caplan served as an Executive Advisor to Aquiline Capital Partners LLC, a private equity firm specializing in the financial services industry. Prior to Aquiline, he was Chief Executive Officer and Director of E*TRADE Financial Corporation. He oversaw the company’s integration of bank and brokerage functionality and under his leadership from 2003 to 2007, E*TRADE reported five consecutive years of record revenues and earnings.

Prior to E*TRADE, Mr. Caplan served as Vice-Chairman of the Board, and President and Chief Executive Officer of TeleBanc Financial Corporation and TeleBank, then the industry’s leading and largest branchless bank. Prior to launching TeleBank, Mr. Caplan was an associate of the law firm of Shearman & Sterling LLP. Mr. Caplan is an active supporter and former member of the Board of Chancellors of the Juvenile Diabetes Research Foundation. He holds a JD and MBA from Emory University, and a BA in history from Brandeis University.

Vice Chairman

Mr. Burke serves as vice chairman of Modern Bank; he previously served as both chief executive officer and president. Prior to joining Modern Bank, he was the president and chief operating officer of New York Community Bank and the senior executive vice president and chief operating officer of its holding company, New York Community Bancorp, Inc., a $24 billion financial services firm. He was also a member of its board of directors. Earlier in his career, Mr. Burke was affiliated for 25 years with the financial services industry group of Ernst & Young LLP, serving the last 13 years as a partner.

Mr. Burke is a Director of Long Island Lutheran High School, a former Director of the Richmond County Savings Foundation and of Peter B. Cannell & Co., Inc., an investment advisory firm, and a Trustee Emeritus of the Brooklyn Youth Chorus. He has an MBA from the Columbia University Graduate School of Business and an undergraduate degree from St. John's University. He is a member of the American Institute of Certified Public Accountants.

Laurence P. Greenberg

Laurence P. Greenberg is a seasoned executive in financial services with more than twenty-five years of experience, including insurance and retail banking. He helped create and build two successful startup financial services companies that became influential across the entire industry. Throughout his career, Mr. Greenberg has made a commitment to creating greater consumer value to help Americans save more.

Under his leadership as President, Jefferson National Financial (sold to Nationwide Financial and now operating as Nationwide Advisory Solutions Business) became widely recognized for launching Monument Advisor, the first no-commission variable annuity with a flat-insurance fee, and for building a large distribution footprint among registered investment (RIAs) and fee-based advisors.

Previously, Mr. Greenberg served as Chief Operating Officer of Telebanc Financial, now E*Trade Bank, where he oversaw all marketing and operations and was instrumental in building a national digital bank, driving the bank's deposit growth from $200 million in 1994 to more than $8 billion by 2000 when the bank was sold to E*Trade Financial.

Mr. Greenberg also served as First Vice President of Consumer Banking at Merrill Lynch, where he helped lead the firm's effort to build retail banking services for Merrill Lynch's brokerage customers.

As a thought-leader and authority on retirement investing, Mr. Greenberg has authored numerous articles on the subject, is frequently called upon by the media, and has been quoted in the press by Reuters, the Wall Street Journal and the Washington Post, as well as a wide range of financial publications including Financial Planning, Financial Advisor and On Wall Street.

Mr. Greenberg received a BA in economics from The Johns Hopkins University.


Since his retirement in 2006 as vice chairman of American Express Company, Jonathan Linen continues to serve as an Advisor to the Chairman. He also serves as Chairman of the International Golf Association and on the Board of Directors of YUM Brands and the InterContinental Hotels Group (IHG). He is a member of the Council on Foreign Relations and a member of the Board of Trustees of the Adirondack Nature Conservancy.

He has served on the Board of Bausch & Lomb, the World Monuments Fund, the National Red Cross, the World Travel & Tourism Council, and the Policy Committee of the Travel Business Roundtable, the United States Travel & Tourism Advisory Board, and the Executive Committee of NYC & Company. Mr. Linen is the past chairman and now honorary member of the Board of Trustees of the National Urban League. For many years he served as Chairman of the Board of Trustees of the Gunnery School and is now a Trustee Emeritus.

He is a graduate of both The Gunnery School and Williams College and the management development program at Harvard Business School. Prior to joining America Express, Mr. Linen served in the United States Army in Vietnam.


David Roscoe is a retired managing director of J.P. Morgan, where he spent 33 years serving in leadership roles. Mr. Roscoe held global management responsibilities at J.P. Morgan for divisions including technology, securities processing, custody and clearance, ADRs, funds transfer, and corporate trust. Mr. Roscoe was active in the formation and leadership of several financial industry utilities, including Depository Trust, National Securities Clearing Corporation, International Securities Clearing Corporation in the US, and Euroclear Clearance Systems in Brussels. Mr. Roscoe also served in London for J.P. Morgan as the founding executive director of CLS Service, a global foreign exchange clearing bank.

Mr. Roscoe also worked for Bridge Information Systems, serving as EVP for strategic planning, President, and CEO. He subsequently held senior positions at RiskMetrics Group, where he co-led every division of the company and served as senior advisor to the CEO, with a concentration on leadership development.

Mr. Roscoe is currently a director of the BATS Exchange, and serves as board chair of The Hastings Center, a leading independent bioethics research organization. Mr. Roscoe received a BA in Economics (with Honors) from Yale University, and an MBA in Finance (with Honors) from the University of Oregon. He also served as an active officer in the US Naval Reserve.


Mr. Sabatini currently serves as the Chief Financial Officer of Modern Bank's holding companies, Modern Financial Inc. and Modern Bank Partners LLC., and serves as a financial consultant to the Bank. Mr. Sabatini previously served as Senior Executive Vice President from January 2006 to March 2010 and Chief Financial Officer from January 2006 to March 2009 of the Bank. Prior to joining Modern Bank, Mr. Sabatini served as Senior Executive Vice President and Chief Financial Officer of U.S.B. Holding Co., Inc. and its banking subsidiary Union State Bank from 1995 to 2006. He also was a member of the board of directors of U.S.B. Holding Co., Inc., a New York Stock Exchange company. Prior to his career in banking, Mr. Sabatini worked in public accounting for 21 years, the last 17 years with Ernst & Young, where he served as an audit partner in the financial services group from 1987 to 1994.

Mr. Sabatini serves as Vice Chairman and Trustee for Dominican College of Blauvelt. He previously served as a Director of the Epilepsy Foundation of Metropolitan New York, and as a Director of the National Epilepsy Foundation of America where he served as Chairman from 2007 to 2009. Mr. Sabatini also served as a Director of the Hudson Valley Affordable Housing Finance Corporation, and was a member of the Westchester County Business Journal Editorial Advisory Board. Mr. Sabatini received his B.S. and Masters degrees in accounting from St. John's University. Mr. Sabatini is a CPA in the state of New York, and is a member of the American Institute of Certified Public Accountants and the New York State Society of Certified Public Accountants where he previously served on various committees as both a member and chairman. He has also been active with the American Bankers Association, the Independent Community Bankers of America, and the New York Bankers Association with prior service on the Accounting, Regulation Review, and Bank Taxation Committees, respectively.

President and Chief Financial Officer

Michael Tedesco joined Modern Bank in 2008 and has over 20 years of commercial banking experience. Mr. Tedesco is responsible for managing Modern Bank's strategic direction as President. In addition, as Chief Financial Officer, Mr. Tedesco is responsible for managing the overall financial operations of Modern Bank.

Prior to joining Modern Bank in 2007, Mr. Tedesco was a Vice President and Controller of U.S.B. Holding Co., Inc. (a New York Stock Exchange Company), where he oversaw all financial and tax reporting, capital planning, and business plans. Earlier, he was an Assistant Controller of its wholly-owned commercial bank subsidiary, Union State Bank.

Mr. Tedesco earned a Master of Science in Accounting and a Master of Business Administration in Finance from Pace University. He also earned a Bachelor of Arts in Mathematics from Binghamton Unversity. Mr. Tedesco has successfully completed the CPA exam. Mr. Tedesco served as the treasurer and director of People-to-People, Inc. in Rockland County. He has also served as president and director of the Rockland County Division of the American Heart Association.

Member FDIC - Banking deposits are FDIC insured up to maximum amount allowable by law. For more information, click here.
© 2019 Modern Bank, N.A. All rights reserved. Terms & Conditions | Privacy |Equal Housing Lender