Sun Bancorp (SNBC) in Mount Laurel, N.J., has hired a chief operating officer for its bank.
The $3 billion-asset company said in a press release Tuesday that Jack Allison will oversee the bank's banking, mortgage, small business, information technology and retail divisions, along with the operations of investment firm, Sun Financial Services, in a newly created post.
Allison previously served as chief information officer at Customers Bank, according to his LinkedIn profile. He held that post for seven months. Before that, he was chief information officer at information technology firm Catalyst Rx. He has also held a variety of senior roles over the course of more than 20 years at Toronto-Dominion Bank (TD) and Commerce Bank, which TD bought in 2008.
Sun has struggled financially in recent years, reporting a $9.2 million loss in 2013 and a $50 million loss in 2012. The company ousted its president and chief executive, Thomas Geisel, in December at the request of the board. Chairman Sidney Brown is serving as acting president and CEO while the company searches for a replacement.