Enterprise Financial Services (EFSC) in St. Louis has hired a new chief financial officer.
Keene Turner will succeed Frank Sanfilippo, who will become the $3 billion-asset company's chief operating officer, according to a Friday press release. Turner is set to join Enterprise on Oct. 14.
Turner previously served as chief accounting officer at National Penn Bancshares (NPBC) in Boyertown, Pa. Before that, he was a vice president at investment bank Griffin Financial Group, where he advised banks on mergers, acquisitions and other strategic matters.
Sanfilippo joined Enterprise as CFO in 2001.
The executive changes are part of a strategic reorganization at Enterprise, Peter Benoist, the company's president and chief executive, said in a press release. "Tthese changes strengthen our organization and position Enterprise for further growth and continuing earnings momentum in our core banking business," he said.
In March, Enterprise extended Benoist's contract as CEO through December 2014. He has held his current post since 2008.
This has been a year of big moves for Enterprise. It converted $20 million of trust-preferred securities to common stock in August to lower borrowing costs and improve its capital position. Early this year, Enterprise bought the mortgage unit of F&M Bank and Trust and exited the Troubled Asset Relief Program.