Bank investor group seeks to cater to Russian, Eastern European Jews locally

By Becky Yerak
Posted Oct. 1, 2010 at 3:56 p.m.

A group of investors wants to invest about $10 million into Maywood-based First Suburban National Bank, and if it’s successful it wants to cater to Russian and Eastern European Jewish customers in the area, according to documents filed with the Federal Reserve.

Illinois State Senator Antonio Munoz will be a board member and investor in the group that wants to buy the troubled $149 million-asset lender.

Owning about  20  percent of the Zaring Group, whose name is in the process of being changed, is Dmitry Shiglik, who’s active in the World Congress of Russian Speaking Jewry, and is  also  co-owner and publisher of a Jewish  newspaper in New York City, said a document filed with the Fed.

A Swiss pharmaceutical company named Mens Sana Holding Ltd. Will own less than 20 percent of the investor group, a Fed document shows.

A Russian bank called Ellips was initially going to be an investor, a Fed document shows, but is now likely to be a lender to the investors group.

The group is represented by DLA Piper lawyer James Kaplan, the Fed filing shows.

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