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M e r g e r s, a c q u i s i t i o n s and private and public offerings. Other corporate activity including executive appointments, bankruptcies name changes.

Banks Recruit Executives

Recent executive appointments at financial institutions

Feb. 16, 2011


photo of Paula Parisot
Paula Parisot
More than a dozen notable executive appointments have recently been made at U.S. financial institutions.

But first, t
he Office of Thrift Supervision is hoping to reduce paperwork and respondent inconvenience regarding the approval process of senior executive officers or directors at thrift holding companies, a public filing said. The OTS is accepting comments until Feb. 22 about how to enhance information collection, minimize the burden of collection, and comments on the validity of the proposed collection of information.

JPMorgan Chase & Co. has welcomed Irene Tse as its chief investment officer for North America, according to a Jan. 27 announcement. Tse will succeed Althea Duersten, who retires later this year after 16 years with the company.

Tse's resume includes more than 17 years portfolio management and investing experience with her most recent position at Duquesne Capital Management, and as former partner of U.S. rates at Goldman Sachs. In addition to her new position as CIO, Tse will also be joining $2.1 trillion institution's executive committee.

At U.S. Bancorp, Dominic Venturo was promoted to chief innovation officer at payment services division, a statement Tuesday said. The 12-year employee's prior position had the same title within the retail payment services business.

This year will see the exit of Larry L. Prince and Karen Hastie Williams from the board of SunTrust Banks Inc. The Atlanta-based bank said Prince has reached the retirement age for SunTrust directors, while Williams "intends to devote more time to her personal and other professional interests."

SunTrust, which reports $172.9 billion in assets, said Kyle Prechtl Legg was nominated to stand for election at the annual shareholder meeting in April. Legg, 59, is the former chief executive officer of Legg Mason Capital Management.

Scott Evans is the new president for BB&T's eastern region as of Jan. 3, Seeking Alpha News reported. Evans has been with BB&T for 26 years and is succeeding Danny Daniels who retired Dec. 31, after 40 years with BB&T, which has $157.2 billion in assets.

A press release indicated that
Dominick Ciampa was elected chairman of New York Community Bancorp Inc. last month. He replaced Joseph R. Ficalora, who had been chairman since 2007. Ficora will remain on as president, CEO and as a director. The move was made by New York Community, which has $41.2 billion in assets, to separate the CEO and chairman posts.

Ciampa is a principal and partner of a Queens, N.Y.-based real estate development firm that was founded in 1975 and a member of the board of directors of the company and Community Bank since 1995.

Santa Monica, Calif.-based OneWest Bank announced the appointment of Grant Ahearn as executive VP and head of its specialized financial services group. With a 25 year history in banking, Ahearn joined the $27 billion bank after working for Union Bank. Ahearn will report to OneWest President and CEO Joseph Otting.

Valley National Bancorp, the holding company for Valley National Bank, said in a Jan. 19 announcement that it appointed Mitchell L. Crandell to first senior VP - chief accounting officer. He joined the $14 billion institution as an assistant controller in 2005.

In addition, Valley National Bank Robert Peterson was promoted to SVP - senior credit officer.

Gerald P. Plush was promoted to vice chairman and chief
operating officer of Webster Financial Corp., parent of Webster Bank, effective Jan. 5. Prior to his employment with Webster in 2006, Plush spent 11 years at MBNA America. He will now report to James C. Smith, chairman, president and CEO of the Waterbury, Conn.-based company.

Webster has
$17.8 billion in assets

photo of Gerald Plush
Webster photo of Gerald Plush

photo of John Guy
Webster photo of John Guy

Also welcomed by Webster as SVP was John L. Guy, director of business and professional banking. Guy's previous experience includes positions at Wachovia and Fifth Third banks, according to a Jan. 19 announcement.

The new president of Arvest Bank's Springfield, Mo., operations is Rodney Shepard, a statement indicated. The $10 billion company promoted him from sales manager - EVP. Shepard replaces Mike Daw, who will remain on as the chairman of Springfield Bank after the transition. Shepard began his banking career at Norwest Financial in 1991.

Sterling Financial Corp., which has assets of $9.5 billion, announced on Feb. 3 the appointment of Patrick J. Rusnak as chief financial officer, pending regulatory approval. Rusnak succeeds Daniel G. Byrne, who is transitioning into the role of corporate development executive. Rusnak previously held a COO role at AmericanWest Bank.

PlainsCapital Corp. late last year announced the shuffle of several executives in its offices, including 30-year banking veteran James Huffines, who was promoted to president and COO. And John A. Martin joined on as its chief financial officer. Martin previously held the position of CFO for Texas Regional Bancshares Inc.

Jerry Schaffner assumed the role of PlainsCapital Bank CEO, replacing Alan White who will continue on as chairman and CEO of the corporation and chairman for the banking arm but relinquished his role as PlainsCapital Bank CEO, according to the Nov. 16, 2010, announcement.

In addition, Roseanna McGill was named the executive VP of strategic initiatives for Dallas, Texas-based PlainsCapital Corp. and chairman of the PrimeLending board.

Another appointment at $5 billion PlainsCapital Corp. was Allen Custard to EVP 
of corporate development and strategic planning for the PlainsCapital Corp.

The Feb. 1 appointment of O.R. Barham Jr. to president and
CEO was announced by StellarOne Corp. Barham was also appointed director of subsidiary StellarOne Bank.

At $3.9 billion Central Pacific Bank, William Wilson was promoted to chief credit officer from EVP - special credits. Wilson has 15 years of U.S. and international experience in credit risk management in both public and private companies and 14 years of credit and lending experience at a "major international financial institution."

The Charlottesville, Va.-based bank said the mortgage business line will continue to report to Jeffrey
W. Farrar, EVP and CFO for the $3 billion parent.

Middleburg Financial Corp., a $1.3 billion company, recently named David Hartley as president and CEO of Middleburg Investment Group. Hartley is a former investment representative from Morgan Stanley Dean Witter. He joined Middleburg Trust Co. as vice president in 1999.

Westfield Bank announced the promotion of two executives: Timothy E. Phillips and Kevin P. Vonderau, a Jan. 14 announcement said.

Phillips replaces Jon Park, who will continue as chairman of Westfield Bank
and assume additional responsibilities leading Westfield Group affiliates Westfield Bank, Westfield Service and Ward group. Phillips joined the bank as chief lending officer in 2003, after working for Signal Bank.

Vonderau was promoted the $0.5 billion institution to chief lending officer. He joined the Westfield Center, Ohio-based bank as a senior loan officer in 2004. His new position includes leading Westfield's commercial, consumer and residential mortgage business.

Linda Emmerich was chosen late last year by $0.5 billion Wisconsin Community Bank to be its new mortgage operations manager, according to an announcement from the Madison, Wis.-based bank. Emmerich's resume includes 20 year of mortgage lending experience, most recently as a business development manager for a mortgage insurance company.

Herbert E. Marth Jr. was named president and chief executive officer of Central Virginia Bankshares Inc., the parent company of Central Virginia Bank. Marth succeeds R. Larry Lyons who retired after a 37-year career with the Powhatan, Va.-based bank, as reported by the Richmond-Times Dispatch. Central Virginia has $0.4 billion in assets.

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Paula Parisot has been covering the mortgage industry as a reporter for since 2004.

e-mail Paula at: [email protected]

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