Bank of America, Citigroup and City National: Bankers on the move

November 11, 2018 9:11 PM

The fall is shaping up to be a big one for executive moves at banks.

Bank of America's well-known digital banking chief Michelle Moore announced she would step down from the job at yearend, while Citigroup announced a new chairman to replace Mike O'Neill next year.

Following is a recap of who is on the move:

Bank of America selects Michelle Moore's successor

Bank of America named a consumer products executive to succeed its well-known digital banking chief Michelle Moore, who will step down from the job at yearend.

David Tyrie, the company's consumer products leader, will take over the position at a pivotal time in BofA's technological development.

Tyrie's official title will be head of advanced solutions and digital banking, a bank spokesperson said. He will be bringing over his work on reward programs and financial center/ATM planning.

“I am excited that we are consolidating our advanced solutions capabilities and our industry-leading digital capabilities into one organization," Tyrie said in a statement provided to American Banker. "This supports our focus on building strong expertise throughout Consumer & Small Business, as we work together to deliver high-tech and high-touch client experiences across our financial center, ATM and digital channels.”

Moore oversaw one of the most ambitious products that BofA has developed in recent years: Erica, an artificial-intelligence-powered digital voice assistant for transactions.

Moore made the decision to step down to spend more time with her family, she said.

"I'm very proud of what we've accomplished as a team to bring an industry-leading digital experience to our clients, and I'm now looking forward to spending more time with on what I hope to be my greatest accomplishment, my boys and my family," she said in a statement provided to American Banker.

JPMorgan private bank chief Coffey leaves to run City National

Kelly Coffey, who was recognized as one of American Banker's most powerful women in 2018, will succeed Russell Goldsmith as CEO of City National, a Los Angeles-based unit of Royal Bank of Canada, on Feb. 1.

Goldsmith will stay on as chairman after running the lender for more than 20 years.

Ex-comptroller Dugan to be new Citi chairman

John Dugan, U.S. Comptroller of the Currency, speaks at an American Bankers Association conference in Washington, D.C., U.S., on Tuesday, March 31, 2009. Banks may report earnings for the first three months of this year that are better than the "quite miserable" fourth quarter, reflecting gains in home sales, Dugan said. Photographer: Brendan Hoffman/Bloomberg News

BRENDAN HOFFMAN/BLOOMBERG NEWS

Citigroup will continue to separate the roles of chief executive officer and chairman after the bank said John Dugan will lead its board beginning in January, succeeding longtime Chairman Mike O’Neill.

O’Neill turned 72 in October, making him ineligible for re-election to the board, according to the bank’s policies included in its annual proxy filing.

Dugan brings experience navigating a challenging regulatory landscape for banks. He was head of Citigroup’s primary banking regulator, the Office of the Comptroller of the Currency, during the financial crisis and was a key architect of how the government would execute bank bailouts.

CEO Michael Corbat said in a statement that Citigroup has been well served by having a separate chairman and that he looks forward to working with Dugan in the new role.

Corbat and Wells Fargo’s Tim Sloan are the only CEOs at the six largest U.S. banks who don’t also hold the chairman title.

Comerica promotes Muneera Carr to CFO

Muneera Carr, Comerica's chief accounting officer since 2010, will succeed the bank's chief financial officer, David Duprey, who is retiring early next year.

Duprey will leave the Dallas company at the end of February. Duprey, 59, joined Comerica in 2006 and has been its CFO since May 2016.

Carr joined Comerica in February 2010 after a short stint as head of accounting policy at SunTrust Banks. She had previously served as a senior accounting fellow at the Securities and Exchange Commission and had held senior accounting posts at Bank of America and PricewaterhouseCoopers.

In a news release, Comerica said that since Carr joined the company her responsibilities have expanded to include tax, planning and forecasting and management information systems.

She also handles many of the financial aspects of Comerica’s so-called Growth in Efficiency and Revenue Initiative, or GEAR Up, which the company launched in 2016 as part of an overall effort to cut costs and identify opportunities to increase revenue.

First Commonwealth in Pa. hires state politician to become regional president

First Commonwealth Financial in Indiana, Pa., has hired a high-ranking state politician to serve as one of its regional presidents.

The $7.6 billion-asset company said in a press release that David Reed, 40, will oversee its operations around Indiana.

Reed, a Republican, stepped down as majority leader of the Pennsylvania House of Representatives. His plans to run for Congress were undone when court-ordered redistricting took him out of contention for a specific seat.

Reed’s leadership experience and understanding of economic issues affecting western and central Pennsylvania make him an ideal regional president, said Mike Price, First Commonwealth's CEO, in the release. Reed "is a model leader to serve as a primary business development catalyst throughout the region, and we’re privileged to have him join the First Commonwealth team,” Price said.

While a number of bankers have made a name in politics after leaving banking, it is rare for politicians to seek out a banking career.

SunTrust promotes Ellen Koebler to chief risk officer

SunTrust Banks’ chief risk officer, Jerome Lienhard, will retire at the end of the year and be succeeded by consumer banking executive Ellen Koebler.

The Atlanta company said that Koebler will assume CRO duties on Jan. 1 and will report directly to Chairman and CEO Bill Rogers. She will oversee credit, market, operational, compliance and technology risk, along with the risk review assurance function and portfolio risk analytics and modeling for the $211 billion-asset SunTrust.

Koebler first joined SunTrust in 2004 as director of corporate investment bank portfolio strategies and later became chief market risk and enterprise analytics officer. In 2016, she joined E-Trade as its chief risk officer and then returned to SunTrust in 2017. Before joining SunTrust, she worked for Bank One, before it was acquired by JPMorgan Chase, and as a chemical engineer for Shell Oil.

She is currently executive vice president of consumer lending and deposit products, overseeing direct and indirect lending, deposit products and payments and partnerships.

MUFG poaches top technology exec from U.S. Bancorp

The logo of Mitsubishi UFJ Financial Group Inc. (MUFG) is displayed on a sign outside a Bank of Tokyo-Mitsubishi UFJ Ltd. branch in Tokyo, Japan, on Thursday, May 11, 2017. MUFG is scheduled to release full-year earnings figures on May 15. Photographer: Tomohiro Ohsumi/Bloomberg

Tomohiro Ohsumi/Bloomberg

MUFG Americas hired Christopher Higgins to be its new chief information and operations officer. Higgins will report to Steve Cummings, president and CEO, and serve on the company’s executive committee. He starts Dec. 10.

Higgins most recently served as chief information officer at U.S. Bancorp, where he was in charge of enterprise architecture, application development and testing, among other responsibilities. He joined the $464.6 billion-asset Minneapolis company in 2012 from Bank of America, where he worked for 18 years in information management.

In his new role, Higgins will replace Chris Perretta, who plans to leave the company by the end of 2018, according to a spokesman. Perretta joined MUFG in April 2016.

The announcement comes as MUFG looks to embark on a U.S. expansion, at a time when its parent company is facing a stagnant economy at home. MUFG Union Bank, its $123.8 billion-asset banking unit, has just over 350 branches, mostly along the West Coast, according to the Federal Deposit Insurance Corp.

Parkway in western Virginia lines up next CEO

Parkway Acquisition in Floyd, Va., will have a new leader in 2019.

The $700 million-asset parent of Skyline National Bank said in a press release Monday that J. Allan Funk plans to retire as president and CEO on Dec. 31. Funk will also step down from the company’s board.

Blake Edwards Jr., Parkway’s chief financial officer, will succeed Funk, who was 54 when the company filed its proxy statement in April. Edwards, 53, has been with the company and its predecessor since 1999.

Blue Ridge Bankshares hires CEO for N.C. operations

/nd700 - stock.adobe.com

Blue Ridge Bankshares in Luray, Va., has hired a CEO for its planned division in North Carolina.

The $493 million-asset company said in a press release Tuesday that Neal Crawford will become CEO of Carolina State Bank, which is set to open later this month with a branch in Greensboro.

Crawford’s background includes stints as president of Towne Financial Services and Monarch Bank, according to his LinkedIn profile.

Crawford "brings a tremendous track record of success and execution in community banking," Brian Plum, Blue Ridge’s president and CEO, said in the release.

Meta Financial taps insider as next CEO

Din, Suleman

Meta Financial in Sioux Falls, S.D., has hired a new CEO.

The company said in a press release that Brad Hanson had succeeded J. Tyler Haahr, effectively immediately.

Haahr will remain Meta’s chairman until its annual meeting in January. Frederick Moore, the company’s vice chairman and lead director, will become chairman after the meeting.

Haahr, who had been CEO for 13 years, recently guided Meta through its purchase of Crestmark Bank.

Haahr and the board “mutually determined that now is the right time for a new leader to guide Meta,” Moore said in the release. “Because of the depth of our management team, we are confident Meta will continue its growth momentum and deliver value for shareholders.”

Hanson joined Meta in 2004, founding its payment systems division. Before joining Meta, he was a senior vice president at BankFirst.

Former U.S. Bancorp chief Davis named CEO at Make-A-Wish America

Nearly two years after surprising the industry by stepping down from the helm of U.S. Bancorp in Minneapolis, Richard Davis has a new gig: CEO of Make-A-Wish America.

The nonprofit organization, which serves children with critical illnesses, announced the appointment Wednesday. Davis will officially take over on Jan. 2.

“I have always been inspired by the remarkable work of Make-A-Wish and the organization’s ability to fulfill wishes for children undergoing treatment for critical illnesses,” Davis said in a press release.

When Davis announced his retirement from banking in January 2017, he said he wanted to pursue “another calling” in life with a service-oriented mission.

He wasn't sure at the time what that mission would be, and there was some speculation that President Trump, who had just taken office, was considering nominating Davis to fill a vacancy on the Federal Reserve’s board of governors.

“I know it’s odd to have a 58-year-old CEO leaving to go nowhere, but that’s really what it is,” Davis said during a conference call after he announced his retirement, as analysts questioned the reason for his departure.

In addition to serving as CEO at Make-A-Wish, which is based in Phoenix, Davis will continue serve on the boards of the National American Red Cross and the Mayo Clinic, among other companies and organizations.