S&T Bancorp shuffles board structure as Toretti departs

September 26, 2025 3:11 PM

In this week's banking news roundup: S&T Bancorp shuffles its board structure following the imminent departure of Chairwoman Christine Toretti; the American Financial Services Association announces Philip Bohi as its new general counsel; Coastal Community Bank appoints Brandon Soto as its new chief financial officer; and more.

Courtesy of S&T Bancorp

S&T Bancorp combines CEO-board chair roles into one

S&T Bancorp in Indiana, Pennsylvania, is shuffling its board structure following the imminent departure of Chairwoman Christine Toretti, whose recent Senate confirmation means she will be the next U.S. ambassador to Sweden.

S&T named CEO Christopher McComish to the role of chairman starting Sept. 28, the $9.8 billion-asset bank holding company said in a press release. McComish has been S&T's CEO since 2018. He joined from TCF Financial in Detroit, which was acquired by Huntington Bancshares in 2021.

In addition, S&T named Jeffrey Grube to the role of lead independent director. Grube, who heads up the board's credit risk committee, has been a director since 1997.

In January, Toretti was nominated by President Donald Trump to serve as the U.S. ambassador to Sweden. She was confirmed on Sept. 18. Trump nominated her to serve as the ambassador to Malta during his first presidency, but she was never confirmed for that role. —Allissa Kline

American Financial Services Association

Philip Bohi named general counsel of AFSA

The American Financial Services Association, a prominent national trade association for the consumer credit industry, announced Philip Bohi as its new general counsel. Bohi will spearhead AFSA's legal and regulatory initiatives, offer strategic guidance to the executive team and bolster the association's advocacy efforts for its members.

Bohi brings extensive experience in financial services law, regulatory compliance and consumer credit policy to his new role. AFSA President and CEO Celia Winslow praised his nearly decade-long service to AFSA, highlighting his expertise and deep industry understanding.

Bohi cited his prior in-house counsel experience at Toyota Motor Credit Corporation and Fannie Mae, as well as his collaborative work with AFSA members and colleagues, as preparation for furthering AFSA's mission.

"I look forward to more involvement in the advocacy and public policy efforts to ensure our Members can focus on providing credit opportunities to the American consumer," Bohi said in a Monday press release. —Editorial Staff

Coastal names seasoned fintech leader as new CFO

Coastal Community Bank appointed Brandon Soto as its new chief financial officer. Effective Oct. 1, Soto will replace Joel Edwards, who announced his intent to retire this past May.

Soto's career spans leadership roles at several high-profile institutions. Most recently, he was chief financial officer of Square Financial Services. Prior to that, he was at Green Dot, where he ended his tenure as chief administrative officer.

The timing of the announcement comes after several recent changes to the company's executive team.Two weeks ago, Curt T. Queyrouze, president of CCB, resigned to become CEO of First Fed, an in-market community bank. Additionally, last month, the company announced it appointed four new members to its executive leadership.

Raymond James analyst Joseph Yanchunis praised Soto's hiring in a recent client note: "All in, we view Mr. Soto as a great hire, where CCB was able to check a lot of boxes," Yanchunis said. —Editorial Staff

JPMorgan hires Esmond, Fleming for consumer retail dealmaking

JPMorganChase hired a pair of managing directors for its consumer and retail investment banking team.

Brian Esmond and Bryan Fleming will report to Jonathan Dunlop, Patrick Gallagher and Aaron Weisbrod, according to an internal memo reviewed by Bloomberg News.

Esmond will be based in Los Angeles. He joined from Centerview Partners in New York, where he was a managing director. Fleming, previously a managing director at Bank of America, will be based in New York.

Investment banks have been in a talent grab in anticipation of more M&A activity. JPMorgan has hired more than 100 managing directors this year, said a person familiar with the matter who asked not to be identified discussing private information. The U.S. bank hired Jerry Lee last month from Goldman Sachs as global chair of investment banking focusing on biopharma and health-care.

A representative for JPMorgan confirmed the contents of the memo. —Crystal Tse, Bloomberg News

Ex-Salomon Brothers bond trader charged with sex-trafficking

Howard Rubin, a former Salomon Brothers bond trader who was prominently featured in the book "Liar's Poker," was charged by federal prosecutors with sex-trafficking.

Rubin, 70, was arrested on Friday at his home in Fairfield, Connecticut. In a 10-count indictment unsealed by U.S. prosecutors in Brooklyn, New York, Rubin is accused of recruiting women and forcing them to engage in sexual encounters.

Rubin's lawyer didn't immediately respond to a request for comment.

Rubin's former personal assistant, Jennifer Powers, was also charged in the case. A lawyer for Powers declined to comment.

Rubin helped create the market for collateral mortgage obligations while at Salomon Brothers in the early 1980s. In "Liar's Poker," Michael Lewis' book about Wall Street, he was described as a young trader who studied behavioral research into which homeowners were likely to prepay their mortgages.

He later worked at Bear Stearns and then joined Soros Fund Management in 2008 as a portfolio manager in mortgage-backed securities. He worked at Soros until 2015. –Patricia Hurtado and Bob Van Voris, Bloomberg News