New Peoples' next CEO, D.A. Davidson's new head of CD underwriting

August 25, 2023 4:12 PM

New Peoples Bank announced J.W. Kiser will be its next president and CEO; D.A. Davidson hired Dan Fiandaca to lead its brokered CD underwriting group; Citizens Bank launches Roger, a digital bank for military members; and more in the weekly banking news roundup.

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New Peoples in Virginia taps insider to be next CEO

New Peoples Bank in Honaker, Virginia, will have a new chief executive before the year is over. The $800 million-asset bank said in a press release that J.W. Kiser will become president and CEO on December 1. He will succeed Todd Asbury, who previously announced his intention to step down. "I am honored for the opportunity to continue to serve our customers and shareholders in this new role," Kiser, who is currently New Peoples' chief banking officer, said in the release. — Jim Dobbs

D.A. Davidson hires head of brokered CD underwriting

The capital markets firm D.A. Davidson has hired Dan Fiandaca to lead its brokered CD underwriting group. The hire comes during a competitive deposit environment for banks, which are increasingly turning to brokered deposits to fill in funding gaps. "We understand our bank clients need this funding, and we are working hard to provide them with the highest level of service and execution possible," Fiandaca said in a news release. He previously set up the CD underwriting team at Fidelity Capital Markets. — Polo Rocha

Royal Bank of Canada taps Credit Suisse banker Tim Perry for Oil, Gas

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RBC appoints ex-Credit Suisse banker Perry for oil, gas dealmaking 

Tim Perry, who held roles including global co-head of oil and gas investment banking at the Swiss lender, joined RBC Capital Markets as vice chairman, according to people with knowledge of the appointment, which has not yet been made public. Perry was head of Credit Suisse's Houston office, which is being shuttered as part of the bank's takeover by UBS Group AG. Spokeswomen for RBC and Credit Suisse declined to comment. Perry previously worked at Donaldson, Lufkin & Jenrette, which Credit Suisse acquired in 2000. During his tenure, Credit Suisse advised on transactions including Concho Resources' sale to ConocoPhillips and Parsley Energy's sale to Pioneer Natural Resources Co. — Gillian Tan and Kiel Porter, Bloomberg News

Bankrupt SVB Financial seeks to rebuild venture capital business

SVB Financial Group is close to rebuilding a venture capital business it lost when federal regulators took over SVB and transferred it to First Citizens Bank & Trust, a lawyer said in federal court in Manhattan on Tuesday. The former parent of Silicon Valley Bank, SVB Financial is trying to reorganize its retained assets, but nine key employees who managed those investments now work for First Citizens, according to court documents. The company was seeking approval to pay as much as $12.5 million to those employees as part of an incentive program to return to SVB. U.S. Bankruptcy Judge Martin Glenn agreed to the program after the company makes some changes to the proposal.— Steven Church and Amelia Pollard, Bloomberg News

Community bank launches its digital brand for military members

Citizens Bank of Edmond officially launched Roger, its digital bank for military members, on August 15. Customers can immediately receive a military-ready direct deposit form when they open their accounts. Direct deposits will come two days early as well. There are goal-setting and roundup features to encourage good financial behavior. "With Roger, we seek to honor and uplift those who selflessly dedicate their lives to serving our nation," said Jill Castilla, president and CEO of Citizens Bank of Edmond, who served in the military herself. The name Roger evokes the military word that signals "I understood the message." — Miriam Cross

Associated Banc-Corp onboards new private wealth manager

Associated Banc-Corp has hired Jayne Hladio from Midland Trust Co. to lead the Green Bay, Wisconsin, bank's private wealth group, the $41 billion-asset bank announced this week. Hladio has more than 25 years of banking experience and joins Associated Banc-Corp after previously directing Midland Trust's wealth management business as well as holding leadership roles at U.S. Bank, Charter One, Royal Bank of Scotland and Fifth Third Bank. Her hiring coincides with John Thayer, executive vice president at Associated Banc-Corp and CEO of Associated Trust Company, stepping back from direct management of the bank's private wealth group while retaining his other duties. – Jordan Stutts