Appointments: Horizon Seeks New CFO, Reshuffles at US Century and F&M

Horizon Bank — The Indiana-headquartered bank has set out a succession plan for its chief financial officer Mark Secor.

Secor will step down from his role at the end of April next year, the company said, after a new CFO is identified and following a period of transition.

The move follows the restructuring of Horizon’s mortgage and consumer lending leadership. Noe Najera, senior retail and mortgage lending officer, has left the company. Horizon said divisional teams were now “reporting to other experienced leaders”.

President and CEO Thomas Prame thanked both individuals for their contributions, adding: “Horizon is proud of its longstanding history of attracting and developing talented leaders that can position the company to continue its 150-year tradition of success. As we evolve as an organization, our core community banking values will remain and continue to focus on the success of our clients, communities and shareholders.”

Civista Bank — Chief credit officer Paul Stark is to retire on December 31, 2023, the Ohio-based banking group has announced. He will be replaced by new hire Michael Mulford.

Stark has worked at Civista for 13 years as chief credit officer, and previously held the same position at First National Bank in Howell.

Mulford joins from Coastal Carolina Bank where he was also chief credit officer. He previously worked for Premier Bank and First Federal Bank of the Midwest in similar senior credit roles.

US Century Bank — The Florida-based bank and its holding company, USCB Financial Holdings, have announced several senior job changes including a new chief risk and compliance officer.

Maricarmen Logroño, currently US Century Bank’s director of enterprise risk management, has been appointed chief risk officer, responsible for the bank’s combined risk management and compliance divisions. She joined the bank in 2014 and has been interim chief compliance officer since July this year.

Meanwhile, chief credit officer Ben Pazos is to retire at the end of this year after eight years with the bank. US Century Bank said a successor would be announced “shortly”.

General counsel Jay Shehadeh is also leaving the company “to pursue personal opportunities”. He will remain in post until December 31, 2023, but is expected to continue to work with the bank through his law firm, Shehadeh Giannamore.

RiverWind Bank — Casey Cullipher is the new CEO at Arkansas-based RiverWind Bank. He was previously president and general counsel at the bank, and will retain his president role. He joined RiverWind in 2016.

Cullipher succeeds Bill Patton at the helm of the bank. Patton is to remain on the board of directors.

Chairman Charlie Eldridge said: “Casey has been with us for seven years and has continually proven himself to be everything we knew he could be as a community banker. We are excited to have him leading us in all of the communities in which we are represented.”

Capital Bank — Maryland’s Capital Bank has hired Jake Dalaya as its new chief strategy officer as the company pursues growth and expansion.

In his new role, the bank said Dalaya would help identify and implement new revenue streams and enhance current business lines, as well as lead its M&A and investor relations strategies.

He joins from Webster Financial Corporation, and has also worked for Keefe, Bruyette & Woods and at JP Morgan Securities.

Morgan Stanley —Ted Pick has been named as the company’s next CEO, effective January 1, 2024. He will succeed James Gorman, who will become executive chairman after 14 years at the helm of the investment banking giant.

Tom Glocer, lead director of the Morgan Stanley board, said Pick was “a strategic leader with a strong track record of building and growing our client franchise, developing and retaining talent, allocating capital with sound risk management, and carrying forward our culture and values”.

Pick is currently co-president and head of Morgan Stanley’s Institutional Securities Group, as well as co-head of firm strategy. He previously held other senior roles including global head of sales and trading, and head of equity capital markets. He first joined Morgan Stanley in 1990 and became a managing director in 2002.

Dan Simkowitz is to replace Pick as co-president and head of institutional securities, with the other co-president Andy Saperstein named head of wealth and investment management.

F&M Bank — The Ohio-based community bank has announced organizational changes including several new C-suite appointments.

Andrew Baker has been named chief retail banking officer alongside his existing role as regional president for Northern Indiana. The bank said Baker would be responsible for all aspects of F&M’s community-based retail bank operations.

He takes on the retail banking role from Barbara Britenriker, who will focus on her existing role as chief financial officer for F&M Bank and its parent company, Farmers & Merchants Bancorp, as it aims to reach $5 billion in assets.

Katrina DeGroff, currently CFO for the bank, is to become chief accounting officer for the bank and the parent company, while retail banking manager Taryn Marino has been promoted to deputy retail banking officer.

Lars Eller, president and CEO, said the changes were designed to support the bank’s strategic goals over the next few years after it reached $3 billion in assets in 2020.

Provident Savings Bank — CEO Craig Blunden is to retire at the end of this year, the California bank has announced. He will transition to non-executive chairman of the board.

Donavon Ternes has been named as Blunden’s successor as of January 1, 2024. He is currently president, chief operating officer, and chief financial officer. Provident is currently searching for a new CFO but said it would not be seeking a COO.