TCF Financial Corp. (NYSE: TCB) in Wayzata, Minn., has hired a PNC Financial Services Group (PNC) executive to be its chief risk officer.

James Costa will lead the $18.5 billion-asset TCF’s risk-management operations starting on Aug. 1, the company announced Friday. He succeeds David Stautz, who has held the position on an interim basis since former risk head Neil Brown resigned in November. Stautz will remain in TCF’s risk department in a role that has not yet been determined, a company spokesman said.

Costa had been PNC's executive vice president of risk and head of enterprise portfolio management since 2010. Before that, he led enterprise credit strategy for Wachovia Corp. He has more than 20 years of experience in financial services, and 13 years in risk management.

Costa’s “wealth of risk management and leadership experience within the banking industry will be a great addition to the organization,” TCF Chairman and Chief Executive William Cooper said.

TCF has nearly 430 branches in Minnesota, Illinois, Michigan, Colorado, Wisconsin, Indiana, Arizona and South Dakota.


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