TCF Financial in Wayzata, Minn., has hired R. Patricia Kelly as its managing director of commercial banking.

Kelly joins the $20 billion-asset company from Chicago Corp., where she oversaw the investment bank's financial institutions and real estate units. She replaces Jim Urbanek, who retired in May.

She has previously held senior-level roles at Citizens Financial, the $141 billion-asset company that was recently spun off by the Royal Bank of Scotland. She also spent 25 years at LaSalle Bank, the Chicago-based lender purchased by Bank of America.

Kelly will report to Thomas Jasper, TCF's vice chairman in charge of retail and commercial banking. She'll also have an executive vice president title, and serve on the company's executive leadership team.

Kelly's appointment will help TCF "accelerate growth" in its commercial portfolio, said Craig Dahl, TCF's president and incoming chief executive, in a press release.

The announcement comes as TCF expands its commercial business on a national scale, focusing on equipment financing and lending to niche industries.

It also comes amid a broader reshuffling of the company's executive team, following the retirement of Bill Cooper, the company's longtime chief executive.

Cooper, who announced his retirement in August, will step down at the end of the year, but remain chairman through 2017. Dahl will succeed him as CEO.

TCF reported its third-quarter results Thursday morning.

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