March Appointments: New CFOs at Ally, Barclays

Ally Financial — Russell Hutchinson is to become Ally’s new chief financial officer from July 3, 2023. He joins from Goldman Sachs, where he was chief operating officer for global M&A. Hutchinson has worked at Goldman Sachs for more than 20 years in various positions in the investment banking unit, as well as chief strategy officer for M&A.

Ally CEO Jeffrey Brown said Hutchinson had already influenced the development of Ally as an external advisor, and was “instrumental in helping us to evolve into the publicly traded and strong company we are today”.

Barclays — The US consumer banking division of Barclays Bank has named John Erdmann as its new CFO, responsible for financial oversight at the payments and credit card business. He will also take on the same position for Barclays Bank Delaware.

Erdmann joins from TD Bank where he was most recently head of line of business CFOs for the bank’s US retail business. Prior to that, he was the bank’s US controller. Erdmann has also held senior positions at lending and payments companies.

Endeavor Bancorp — The Californian bank has hired Julie Given-Glance as chief financial officer. She has 25 years of experience in banking in California, most recently as CFO of Neighborhood National Bank. She has also worked for the National Credit Union Administration, and held C-suite roles at four different credit unions.

Avidia Bank — The $2.5 billion Massachusetts community bank has named Robert Cozzone as president and CEO, succeeding the retiring Mark O’Connell in May this year.

Cozzone joins Avidia from Rockland Trust after 24 years at the $20 billion bank, most recently serving as chief operating officer overseeing 123 branches and more than 1,000 staff. He has also worked as Rockland’s CFO and as retail executive.

O’Connell has worked at Avidia for 35 years, the last 19 as CEO, helping grow the company from $120 million in assets, and expanding the branch network from two to nine locations.

FinWise Bank — The Utah-based bank has appointed James Noone as president. Noone is currently chief credit and strategy officer, having joined FinWise in 2018. He takes over from Kent Landvatter, who remains as CEO of the bank.

Truist — Tom Hackett will take over as CEO of Truist Securities, the financial services giant’s corporate and investment bank, at the end of this month. He succeeds John Gregg, who is retiring.

Hackett is currently chief operating officer of Truist Securities, a position he has held since 2020. He joined the company in 2008 and has more than 30 years of experience in the sector.

Banc of California — Current CFO Lynn Hopkins is to step down from her role at the end of this month, the bank has announced. Deputy CFO Raymond Rindone will take over as interim CFO while a permanent replacement is sought.

Rindone joined the bank last year from City National Bank where he worked for 16 years, latterly as deputy CFO.

German American Bank — Michael Beckwith has been announced as the Indiana-based bank’s next chief banking officer. He will succeed Randall Braun on April 1 this year as Braun is set to retire.

Beckwith joined German American in 2018 as part of the company’s acquisition of First Security Bank, where he was president and CEO. Since then he has been Kentucky Division president and chief commercial banking officer.

Comerica — Jeff Banks has been appointed chief data and analytics officer at Comerica, where he will oversee the bank’s data strategy ategy and “establish an enterprise-wide data and analytics program across all lines of business”, the company said.

Banks was previously head of client data services at Meta, parent company of Facebook, leading the social media network’s advertising and marketing data management policies. He has also held senior data roles at General Motors and USAA.

WaFd Bank — Former Great Western Bank CEO Mark Borrecco has been appointed regional president for California at WaFd Bank. He will oversee the operations of Luther Burbank Savings, which WaFd is set to acquire this year.

Borrecco was CEO of Great Western for two years until February last year, and has also led California-based Rabobank as CEO from 2015 to 2019.

Equity Bank — Kansas-based Equity Bank has promoted several staff to senior leadership positions.

Brad Daniel, Josh Means, and Mark Parman have been promoted to regional CEOs. Daniel will oversee the branch network across central, western and southwest Kansas as well as Arkansas. Means will lead Missouri, Southeast Kansas and Northern Oklahoma operations, while Parman is responsible for the bank’s metropolitan teams in Kansas City, Wichita, and Topeka in Kansas and Tulsa in Oklahoma.

In addition, Chris Navratil has been promoted to chief financial officer, while John Hanley has been named chief marketing officer.

National Exchange Bank & Trust — Chief operating officer and president James Chatterton is to retire after 35 years with the Wisconsin-based bank. His career included 17 years as CEO of American Bank, which merged with National Exchange in 2016.

National Exchange CEO Eric Stone will take over as president, while Nicole Wiese has been promoted to COO. At the same time, the bank has also promoted Steve Holz to chief lending officer, and Tami Christian to chief people officer.

Bank OZK — The Arkansas-based bank has announced Andrea Chomakos as its new chief fiduciary officer, responsible for the fiduciary administration of personal trust accounts. She was previously a partner at law firm McGuireWoods where she specialized in fiduciary law.