Cooperative Bank of Cape Cod names Erik Porter new CEO

Erik Porter named CEO of Cooperative Bank of Cape Cod

August 22, 2025 3:08 PM

In this week's banking news roundup: Erik Porter is named president and CEO of the Cooperative Bank of Cape Cod; Gary Hall and Sobani Warner are promoted to co-presidents of Siebert Williams Shank; Faiz Ahmad and Mike Joo will lead Bank of America's global investment banking unit; and more.

Cooperative Bank of Cape Cod names Erik Porter CEO

Erik Porter will be the new president and CEO of the Cooperative Bank of Cape Cod when Lisa Oliver retires in October, the bank said. Porter has been the bank's CFO since 2023 and previously worked at Metro Credit Union, Cape Cod Five Cents Savings Bank, CFGI, Wainwright Bank & Trust and Wolf & Company. Oliver, the longtime head of the Hyannis, Massachusetts-based bank, is an honoree of The Most Powerful Women in Banking's Women to Watch awards. The 104-year-old mutual bank has $1.6 billion in assets and 170 employees. — Chana R. Schoenberger

Siebert Williams Shank expands leadership, announces promotions

The independent financial services firm Siebert Williams Shank announced a series of promotions to expand its senior leadership. Effective Sept. 1, Gary Hall and Sobani Warner will become co-presidents. In addition, Keith Richard will become head of public finance, while Ahmad Ismail will become co-head of corporate finance alongside David Finkelstein. Suzanne Shank, who co-founded the firm with Wall Street icon Muriel Siebert, will remain CEO.

The move positions the firm for its next stage of growth, Suzanne Shank said in a Tuesday press release. Since the 2019 merger between Siebert Cisneros Shank and Williams Capital Group, SWS has solidified its reputation as a major player in U.S. infrastructure development and corporate liquidity management. Headquartered in both New York and Oakland, Calif., SWS offers investment banking, sales and trading, research and advisory services. It counts over 80 Fortune 100 companies among its clients. —Traci Parks

Sergio Flores/Bloomberg

BofA names Ahmad and Joo investment banking co-heads in shakeup

Bank of America announced several leadership changes, naming Faiz Ahmad and Mike Joo the new co-heads of its global investment banking unit. Current co-heads Alex Bettamio and Thomas Sheehan will become chairs of global corporate and investment banking, the company said in a memo to staff Wednesday seen by Bloomberg News. All investment banking global group heads will report to Ahmad and Joo, Matthew Koder, head of global corporate and investment banking, said in the memo.

Two years ago, Ahmad had been named co-head of global capital markets alongside Sarang Gadkari during a leadership change in the investment banking unit at that time. He was previously head of global transaction services. Joo, who was North America head of global corporate and investment banking, has worked at BofA since 2006 in a variety of roles, including COO for global markets, head of global rates and currencies solutions, and head of Asia debt capital markets. —Katherine Doherty, Bloomberg News

Roundup Bloomberg pickup on Evercore's expansion in Nordic region

SOPA Images/Photographer: Pavlo Gonchar/SOPA

Evercore said to hire Citi’s Ingemarsson to expand in Nordic region

Evercore has hired Lars Ingemarsson, head of Nordic investment banking at Citigroup, to lead its expansion in the region, people familiar with the matter said.

Ingemarsson will join Evercore in November as head of the Nordic region, according to the people, who asked not to be identified because the information is private. He will be joined by Kristoffer Elshult, a director from Citigroup, with plans to open Evercore's first Nordic office in Stockholm, the people said.

Evercore plans to build a team of 15 bankers in the region over time, the people said.

A representative for Evercore declined to comment, while a spokesperson for Citigroup didn't immediately respond to queries. —Rafaela Lindeberg, Vinicy Chan and Dinesh Nair, Bloomberg News

Nubank

Nubank names New CEO for Mexico business ahead of banking push

Nu Holdings said Armando Herrera will become chief executive officer of Nubank's Mexico business as the digital lender prepares to operate as a licensed bank in Latin America's second-largest economy.

Herrera, who joins from Mexican financial technology firm Konfío, will take over for Iván Canales on Sept. 2. Canales, a founder of the Mexico unit who helped secure its banking license, will remain an advisor.

The leadership change comes as the company looks to consolidate its position in an increasingly competitive fintech and banking market.

Herrera previously served as general manager of financial products at Konfío and earlier held senior roles at American Express in Mexico. He has more than 15 years of experience in financial services and holds degrees from the Massachusetts Institute of Technology and IPADE.

Under Canales' leadership, Nubank launched a credit card, introduced high-yield deposit accounts and expanded personal loans — efforts that culminated in a landmark banking license. –Maria Clara Cobo, Bloomberg News