U.S. Century Bank in Miami may be looking for a new chairman.
Alex Acosta, who has been the $1 billion-asset bank’s chairman since 2013, was nominated by President Trump to be secretary of the Department of Labor.
Acosta, a former Lehman Brothers investment banker and onetime member of the National Labor Relations Board, played an “instrumental” role helping U.S. Century emerge from a 2011 consent order, Luis de Aguillera, the bank’s CEO, said in a statement Thursday.
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Aguillera did not address how U.S. Century will approach its board vacancy, though he praised Acosta for being a “brilliant leader with an exemplary reputation.”