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Financial Institutions Round Up Execs

Recent executive activity at U.S. financial institutions

April 7, 2010

By SAM GARCIA


Financial institutions have been busy inside and outside the boardroom making changes. Several of the recent changes were tied to E*TRADE. Two institutions have new chief lending officers.

Donald H. Layton, the recent chairman and chief executive officer of E*TRADE and former vice chairman of JPMorgan Chase & Co., was appointed by the U.S. Department of the Treasury to American International Group Inc.'s board of directors, an April 1 statement said. In addition, Ronald A. Rittenmeyer, the former chairman, president and CEO of Electronic Data Systems, also joined AIG's board.

The Treasury said its right to appoint the two directors kicked in because the struggling financial services giant failed to pay dividends for four quarters on the AIG preferred stock held by Treasury.

Layton was also appointed as senior advisor and co-chairman of New York-based NewOak Capital LLC's investment committee, a March 17 announcement indicated.

At New York-based E*TRADE Financial Corp., interim CEO Robert Druskin was replaced by Steven Freiberg as permanent CEO on April 1. Freiberg previously worked for 30 years at Citigroup Inc., including a recent assignment as co-chairman and co-CEO of Citigroup's Global Consumer Group.

Freiber noted in the statement that both Layton and Druskin "did a terrific job leading the company through very challenging times." Druskin will remain on E*TRADE's board.

A new chief lending officer was announced by Maple Grove, Minn.-based TopLine Federal Credit Union: Thomas Smith. With 24 years' lending experience, Smith's promotion includes a senior vice president title.

SunTrust Banks Inc. announced last month that Jerome Lienhard was named senior vice president of strategic finance and administration. In his new role, Lienhard will have responsibility for strategic sourcing, corporate real estate and strategic finance as well as performance measurement and the financial services unit.

Taking Lienhard's old job as Treasurer of the Atlanta-based institution is SunTrust Chief Market Risk Officer Aleem Gillani.

In Costa Mesa, Calif., George L. Argyros was elected to Pacific Mercantile Bancorp's board of directors -- a move that has already been blessed by the Federal Reserve and the California Department of Financial Institutions, a March 17 statement said. Argyros, the former U.S. Ambassador to Spain, is chairman and CEO of Arnel & Affiliates and a member of First American Corp.'s board of directors

photo of Thomas Smith
TopLine photo of Thomas Smith

photo of Robert Cooper
Hampton photo of Robert Cooper

Hampton Roads Bankshares Inc. announced that it hired Robert M. Cooper as senior vice president -- director, products & business line strategy. His nearly two decade's experience most recently includes a stint at RBC Bank.

A filing last week with the Securities and Exchange Commission indicated that James M. Deitch resigned as director of First Chester County Corp. and subsidiary First National Bank of Chester County. Deitch is managing director of the West Chester, Pa.-based company's American Home Bank division -- which the bank is trying to sell. The move eliminates the appearance of a conflict-of-interest, though Deitch will continue as chief operating officer of the parent firm and the bank.

The new chief lending officer at Carrollton Bancorp is Richard J. Hunt Jr., a March 25 statement from the Baltimore-based bank said. Hunt was also appointed senior vice president.

The new senior advisor for communications at the National Credit Union Administration is Christopher Colford, a March 17 statement said.

photo of Christopher Colford
NCUA photo of Christopher Colford


Sam Garcia worked in mortgage lending for twenty years prior to becoming publisher of MortgageDaily.com in 2000.

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