C-suite

The new order is the strongest move yet by a U.S. bank to require employees to return to the workplace.

Michael Corbat won praise for turning the page on the financial crisis and for advancing gender equity in the workplace. But after eight years at the helm, he has failed to deliver the returns that investors have come to expect of Wall Street banks.

Sandra Sagehorn-Elliott will take over as the president and CEO of the Tucson, Ariz.-based institution next month, having served as chief operating officer of two different credit unions.

The New Mexico company had recently hired James Crotty, a former director at Keefe, Bruyette & Woods, to serve as its co-CEO.

Richard Pillow will step down after more than four decades in the industry.

Gary Elliott will retire at the end of 2020, and the credit union has hired a search firm to help find its next leader.

Finding a balance between short and long-term needs is the main goal for future-focused leaders, said Tipalti's Chen Amit.

After dropping for the past two years, reputation scores are once again rising, thanks largely to the goodwill banks have earned by helping customers and employees weather the coronavirus outbreak.

John Collins comes to the credit union industry after spending 20 years in a variety of roles at the national bank, including helping integrate two acquisitions.

Matt Rarden is taking over at the Albuquerque, N.M.-based institution after Tom Shoemaker retired in July.