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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 Update Executive Ranks

Recent bank executive activity

June 13, 2010


Several changes were recently announced to the boards of directors and executive ranks of some big-brand and billion-dollar banks. The former president of bankrupt Fremont General Corp. has landed at a Spokane, Wash., institution -- assuming a planned recapitalization completes.

The U.S. Department of the Treasury exercised its right to appoint one of two directors to the board of Ally Financial Inc., according to a May 26 statement. The right was created as a result of government investments during December 2009.

Marjorie Magner, a 30-year consumer financial services veteran, was one of the Treasury's appointments. She is a founding member and partner at Brysam Global Partners, and she previously was chairman and chief executive officer of the global consumer group at Citigroup Inc.

Earlier last month, Ally -- formerly known as GMAC Inc. -- disclosed the departure of chief risk officer Samuel Ramsey. His last day was May 31, and he left for "personal reasons." But he will stay on as an advisor.

Replacing Ramsey was Barbara Yastine, who will serve in a newly created role of chief administrative officer and have responsibility for risk, compliance and legal functions as well as technology functions. Her past positions include chief financial officer at Credit Suisse First Boston and CFO at Citigroup's Global Corporate and Investment Bank Yastine reports directly to Ally CEO Michael A. Carpenter.

"In this new role, she will have oversight of the key risk management and control activities that are critical as a bank-holding company," Carpenter said in the statement.

In Atlanta, SunTrust Banks Inc. recently announced that David Stevens becomes president and CEO of its central Carolina region on June 14. His prior employer was Wells Fargo & Co.'s Wachovia.

Stevens replaces John Stallings, who was named president and CEO of SunTrust's mid-Atlantic division.

Regions Financial Corp. last month announced the election of Crane Co. President and CEO Eric C. Fast to its board of directors. Also elected to the board was GlobalTech Financial LLC Chairman and CEO Carolyn H. Byrd.

John Asbury, who joined Birmingham, Ala.-based Regions in 2008, was named head of business services group. He'll report directly to Regions President and CEO Grayson Hall and replaces Tim Laney, who left to become CEO of NBH Holdings Corp.

Asbury's prior employer was Bank of America Corp. He spent 23 years in financial services.

After Sterling Financial Corp. completes its previously announced recapitalization, David S. DePillo will become chief credit officer of subsidiary Sterling Savings Bank, a statement this month said. The Spokane,Wash.-based company, which has $10.6 billion in assets, highlighted a "successful track record" by the 25-year veteran of financial management, banking and investment.

DePillo became president of Fremont General Corp. and subsidiary Fremont Investment & Loan in November 2007, after it was ordered by the FDIC to stop subprime lending and as performance on its issuances deteriorated and losses were mounting. He stayed until September 2009, after the bank was acquired by CapitalSource Inc. and parent Fremont General Corp. filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code.

Joseph Brancucci was named president and CEO of GTE Federal Credit Union, a June 9 press release said. Before joining the $1.5 billion institution, he was CFO of $8.6 billion BECU, formerly known as Boeing Employees' Credit Union -- where he worked for 15 years.

Brancucci, who is the former chair of the CUNA Council Forum and the CUNA Lending Council, replaces Bucky Sebastian, who retired from the Tampa, Fla.-based credit union in December 2009.

Patrick J. Haberfield was named chief credit officer at Indiana, Pa.-based S&T Bank, a June 1 statement said. He was previously an executive at Synovus Financial.

In addition, $4.1 billion S&T hired William Kametz as deputy chief credit officer and Larry E. Bittner and Scott J. Suess as commercial lenders.

Alliance Bancshares Corp. appointed William E. Doyle Jr. as president and CEO, a news release last month said. Doyle will also serve as president and CEO of subsidiary Alliance Bank Corp. as well as a director for both entities. Doyle had been serving as interim CEO of the Chantilly, Va.-based bank since January.

Prior to taking on the interim role at $0.6 billion Alliance, Doyle held senior executive positions at Monument Financial Services LLC, Frontier Community Bank and Citizens Bancorp of Virginia Inc. -- each for around a year. He earned an MBA from Duke University and an undergraduate degree from Old Dominion University.

"As we take appropriate action steps to reposition our company, sustainable shareholder value is the key objective of our long-term business plans," Doyle stated in the announcement.

The new senior executive vice president - neighborhood banking at BankUnited is Harlan Parrish, the Miami Lakes, Fla.-based institution announced on June 9. Parrish previously spent 26 years at BB&T-Colonial Bank.

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

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