First Interstate adjusts chief banking officer role, again

November 21, 2025 2:43 PM

In this week's banking news roundup: Chris Shepler is named sole chief banking officer at First Interstate BancSystem; Kristy Fercho joins LERETA's board of directors; Truist Financial launches a business focused on private equity and family office transactions; and more.

First Interstate BancSystem is back to one chief banking officer

First Interstate BancSystem is back to one chief banking officer, 10 weeks after it split the role between two executives as part of a management team realignment.

The Billings, Montana-based bank disclosed in a regulatory filing that Chris Shepler will now be the sole chief banking officer. Since early September, Shepler had been sharing the job with Lorrie Asker, who has relinquished that role to become an executive advisor to CEO Jim Reuter.

Asker joined First Interstate in 2023, a year before Reuter came out of retirement to run the bank. It is among several regionals that recently faced scrutiny from the activist investor group HoldCo Asset Management.

Asker is expected to serve as an advisor until the end of the first quarter of 2026 "unless earlier terminated," the filing said. She will continue to receive her current compensation and benefits.

As part of the change, Shepler has a new employment contract that includes an initial base salary of $480,000. —Allissa Kline

Kristy Fercho joins LERETA’s board of directors

LERETA, a top provider of real estate tax and flood services for mortgage servicers, has appointed Kristy Fercho to its board of directors.

Fercho, who's been an American Banker Most Powerful Woman to Watch several years in a row, currently serves as senior executive vice president, head of financial inclusion and opportunity at Wells Fargo. Her previous roles include leading Wells Fargo's home lending division and serving as president of mortgage lending at Flagstar Bank. She's also held executive roles at Fannie Mae and has served on numerous boards, including as chair of the Mortgage Bankers Association and with the National Urban League, MBA Opens Doors Foundation, Habitat for Humanity Chicago and Saint Joseph's University.

"Kristy's deep industry expertise, strategic mindset, and passion for service make her an exceptional addition to our board," Katie Brewer, CEO of LERETA, said in a Wednesday press release. —Traci Parks

Truist

Truist rolls out institutional capital group, hires Citi exec to run it

Truist Financial has launched a business segment focused on private equity and family office transactions, and it hired a former Citi executive to run it.

The Charlotte, North Carolina-based regional bank's new institutional capital group, one of several units within the specialized industries and institutional capital team, will be led by Chris Jackson, the bank said in a press release. Jackson, who's based in New York City, most recently oversaw the sponsor coverage group within Citi's commercial bank.

According to the release, the institutional capital group will serve middle-market private equity sponsors and select family offices. The group will offer core banking, payments and capital markets products and services to middle-market sponsors and family offices, with a focus on those located within Truist's commercial footprint, the bank said.

Jackson joined Citi in 2012 as a director of loan syndications, according to his LinkedIn profile. At the $544 billion-asset Truist, he will report to Jason Cagle, head of specialized industries and institutional capital. —Allissa Kline

Societe Generale

Jean-Yves Fillion is Societe Generale Americas' new CEO

Societe Generale has appointed Jean-Yves Fillion as the new CEO of its Americas unit, effective Feb. 2, 2026, subject to regulatory approval. Fillion will be based in New York and report to Anne-Christine Champion and Alexandre Fleury, co-heads of global banking. He will replace Stephane About, who is retiring.

Fillion joins Societe Generale after a 40-year career at BNP Paribas, where he served as vice chairman of the board of directors of BNP Paribas USA and previously held multiple leadership positions, including CEO of BNP Paribas USA, chairman of CIB Americas and CEO of CIB Americas.

"Jean-Yves's appointment marks a significant step in our journey to strengthen our presence in the Americas. His experience in the U.S. market and proven leadership will help us accelerate the momentum we've built, notably in corporate and investment banking," Champion and Fleury said in a Monday press release. —Traci Parks

Deutsche plans to hire 250 wealth managers in growth push

Deutsche Bank branding.

Ore Huiying/Bloomberg

Deutsche Bank plans to hire 250 wealth managers in growth push

Deutsche Bank is planning to hire as many as 250 bankers to expand its wealth management operations in Germany, Italy, the U.K., the Middle East and Asia.

Most of the new hires are set to start next year, Claudio de Sanctis, the head of the private bank, said at the lender's investor day on Monday. In total, Deutsche Bank plans to invest around €300 million into talent and technology in the wealth management business over the next three years.

Deutsche Bank on Monday raised a key return target and pledged higher payouts for shareholders as CEO Christian Sewing mapped out its strategy for the next three years. Germany's largest bank is targeting a return on tangible equity of more than 13% by 2028 and plans to distribute 60% of profits to shareholders from next year, even as revenue growth is expected to slow slightly to above 5% annually. —Arno Schütze, Bloomberg News

Senior managers depart BMO capital markets as firm pushes reorganization

Bank of Montreal let go of two longtime managing directors in its capital markets unit.

Alena Vinogradova left the bank last week, according to people familiar with the matter. Vinogradova had worked there for more than 12 years, according to her LinkedIn profile. Her most recent role was as managing director and head of a team that manages risks associated with derivatives trading books, known as XVA trading.

Nancy Branch, a managing director and head of cross business structuring, also left BMO, said the people, who asked not to be identified as they aren't authorized to speak publicly. Branch worked at the bank for about 24 years, according to her LinkedIn profile.

BMO has been reorganizing its capital markets team, appointing John Mitrano as the sole head of global equities and Darren Campbell as the head of global markets Canada in September. The bank declined to comment.

Vinogradova and Branch didn't respond to requests for comment. —Chunzi Xu, Bloomberg News