Third Federal Savings & Loan Association in Cleveland has promoted Chief Retail Officer Meredith S. Weil to the position of chief operating officer, effective July 6.

Weil, 45, will replace John Ringenbach, who is retiring after 20 years with the thrift. During Ringenbach's tenure, the thrift has nearly quadrupled its assets, to $11.3 billion at March 31, and in 2007 it converted from a mutual thrift to a publicly traded company.

"John has been an integral part of our success story during the last 20 years, not only through his business acumen, but also a role model and mentor throughout the company," Marc A. Stefanski, the chairman and chief executive of the thrift and its holding company, TFS Financial (TFSL), said in a news release.

Weil joined Third Federal from KeyCorp (KEY) 13 years ago and has held a variety of top jobs there, including director of marketing and head of retail delivery. Stefanski said that because of her range of experience and her time on the executive management team Weil "is well-positioned for the role of chief operating officer."

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.