Eagle in Maryland hires new chief risk officer

Eagle Bancorp in Bethesda, Maryland, named Jay Namputhiripad chief risk officer Monday. Namputhiripad will succeed Jeff Curry, who is retiring this month. 

A 23-year risk management professional, Namputhiripad joins the $10.7 billion-asset Eagle from The Bancorp, where he was a managing director and global head of financial crimes risk management. At Eagle, Namputhiripad will oversee internal and external risk and compliance processes.

"We're delighted to welcome Jay to our senior management team," President and CEO Susan Riel said in a press release. "His expertise is reflective of EagleBank's community-first commitment, and he will be instrumental in the continued commitment to our risk and compliance functions."

Namputhiripad joined the Wilmington, Delaware-based Bancorp in July 2018. During his four-and-a-half-year tenure, Namputhiripad played a key role in remediating a long-running consent order imposed by the Federal Deposit Insurance Corp. in June 2014, after that agency identified issues with The Bancorp's Bank Secrecy Act compliance and its risk management operation.  

Eagle has had its share of difficulties, most tied to dealings involving founder and former CEO Ron Paul, who was barred from the banking industry by the FDIC in August 2021 for alleged improper lending. Paul was also linked to a controversy involving Eagle's relationship with a former Washington, D. C., city councilman.

Eagle Bancorp

Both issues were settled during Curry's tenure as chief risk officer. Curry joined Eagle from Deloitte in July 2020. He was managing director for the risk and finance advisory practice in Deloitte's banking and capital markets group. 

Curry was 66 when Eagle filed its most recent proxy report with the Securities and Exchange Commission in April.

"EagleBank is one of the strongest and most dynamic community business banks in the Washington, D.C., region," Namputhiripad said in the press release. "I look forward to contributing to its continuing success."

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Before his stint at The Bancorp, Namputhiripad was head of Americas branch operations risk at Morgan Stanley and chief risk officer at the Federal Home Loan Bank System's office of finance.   

Eagle's appointment of Namputhiripad comes less than a week after the $213 billion-asset SVB Financial in Santa Clara, California, tapped Kim Olson to serve as chief risk officer. Olson was chief risk officer for Sumitomo Mitsui Banking Corp.'s Americas operation.