National Bank in Colorado Losing M&A Chief

National Bank Holdings (NBHC) in Greenwood Village, Colo., is losing its executive in charge of acquisitions.

Donald Gaiter will step down as chief of acquisitions and strategy at the end of this month, the company said Tuesday. A company spokeswoman wrote in an email to American Banker that Gaiter's decision was based on his desire to stay in Boston where he lives. "We support and respect his decision to achieve greater work-life balance," the spokeswoman wrote.

The company was organized in 2009 in Boston and relocated its headquarters to suburban Denver in 2012 after a string of acquisitions in Colorado and neighboring states.

The $4.9 billion-asset company said Gaiter will serve as a consultant through October and offer advice on any potential transactions.

Gaiter "was pivotal in the establishment and successful growth of our company," Timothy Laney, National Bank's president and chief executive, said in the release. "We are grateful for his leadership and invaluable contributions during his tenure, particularly in connection with our four acquisitions to date."

Since its creation four years ago, National Bank has bought three failed banks and one open bank. The financial institution went public in 2012.

Brian Lilly, the company's chief financial officer, will take on the added responsibility for M&A strategy. Lilly has "extensive previous experience" in mergers and acquisitions as well as corporate strategic planning, and is equipped to handle these additional duties, Laney said.