C-suite

The Evansville, Indiana-based bank has hired Tim Burke to oversee commercial and community banking, along with wealth, credit and marketing.

The 66-year-old banker will take on the role of executive chairman at Moelis & Co. Co-President Navid Mahmoodzadegan will become CEO.

Main Street Financial's ouster of James VanSickle came three months after its chairman characterized the company's financial performance as being "on the upswing."

The Toronto-based bank said that Aron Levine will become group head and president of BMO U.S. It also announced the upcoming retirement of Ernie Johannson, head of North American personal and business banking.

The 5-year-old experiment of tying executive compensation to achieving diversity goals appears to be ending. The abrupt shift comes amid the Trump administration's crackdown on DEI.

The leaders that saw their salaries skyrocket the most in 2024 had also gotten pay cuts in the prior year.

"There were four layers between me and the senior managers of the products and like 14 layers across the organization, which is too much for an organization that needs to be agile," David Velez said.

BlackRock veteran Mark Wiedman is taking the torch as president at PNC. The seeming successor to longtime CEO Bill Demchak will be tasked with helping the bank evolve.

Terry Dolan, vice chair and chief administration officer at the Minnesota bank, had been at the company for more than 25 years.

The startup announced over $20 million in funding in January and plans to launch in the second quarter of 2025.