DAYTON, Ohio — Lynn Cook, CEO of Abbey Credit Union, will retire next year at the end of March.
Cook has been with the $82 million-asset credit union for 21 years.
"It is never an easy decision to retire," Cook said in a statement. "I just hope my guidance and management decisions have brought a great deal of value to our community, families and the members of Abbey Credit Union over the years."
The credit union's board plans to begin a search for Cook's successor.
The Federal Reserve's April financial stability report found that asset valuations remain elevated, even as investors are beginning to demand more compensation for risk amid rising uncertainty around monetary policy.
Banking groups that sued the state of Illinois over its law barring banks from charging interchange fees on taxes and tips cheered an appeals court ruling remanding the law to a lower court and vowed to keep the law going into effect, which is slated for July 1.
Stephan Feldgoise and Joshua Schiffrin will join Goldman Sachs' management committee; Fidelity Investments is dismissing about 800 personnel as it restructures its technology and product-delivery teams; Citi has hired JPMorgan's André Ross as its country officer and banking head for South Africa; and more in this week's banking news roundup.
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Leaders from Wells Fargo, JPMorganChase and more talked about how banks can respond to the fast-moving changes in money movement, new forms of artificial intelligence, fraud, digital assets and more.
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