Chemical Financial has retooled its organizational structure as part of the Midland, Mich., company's succession planning.
The $7.8 billion-asset company said in a press release Monday that it Leonardo Amat and Robert Rathbun will share the title of chief operating officer. In the newly created posts, Amat, formerly chief risk management officer, will handle business operations, and Rathbun, previously a regional president, will oversee areas such as retail banking, wealth management services and treasury management.
Lynn Kerber, previously a regional president, succeeded Amat. Kenneth Johnson, formerly director of bank operations, succeeded Rathbun. The company also said that Richard Davies, who had been chief executive of Monarch Community Bancorp, which Chemical bought earlier this year, will replace Kerber has regional president for the south region.
Thomas Kohn, an executive vice president of community banking, was named vice chairman and appointed to Chemical's board. Four other executives Pavel Konecny, Greg Meidt, Joseph Torrence and Chris Vieau - were added to Chemical's senior leadership team.
"While each of the executives involved in today's realignment brings unique perspectives to their new responsibilities, they share a number of common traits," David Ramaker, the company's chairman, president and chief executive, said in the release. "They are all highly-experienced, community-oriented, customer-driven bankers with the expertise and skill sets necessary to help Chemical identify and execute initiatives in support of our strategic growth priorities as we continue to create shareholder value."
Chemical also bought Lake Michigan Financial in January.