Rabobank in Roseville, Calif., has lined up its next president and chief executive.
The $15 billion-asset bank, a unit of Dutch company Rabobank Group, said in a press release that Mark Borrecco will take over those positions on Dec. 1. He will succeed John Ryan, 65, who will retire at the end of this year.
Borrecco, 43, is Rabobank’s chief retail banking officer. He oversees all aspects of retail and business banking, mortgage lending, trust services and Community Reinvestment Act initiatives. Borrecco joined the bank in August 2011.
Borrecco “has been instrumental in helping create and drive the bank’s long-term vision and growth in California,” Sander Pruijs, Rabobank’s chairman, said in the release. “We are confident that the bank will continue to build on its accomplishments under his leadership.”
