Newly promoted Chief Compliance Officer also named
WILMINGTON, Del.--(BUSINESS WIRE)--
The Bancorp, Inc. (NASDAQ: TBBK) has retained and appointed financial
services leaders Hugh McFadden as Chief Operating Officer of the Company
and the Bank, pending regulatory approval, and John Leto to the new role
of Chief Administrative Officer of the Company and the Bank. Both will
report to Damian Kozlowski, CEO and President. Reporting to McFadden,
Pawneet Abramowski, with The Bancorp since 2014, has been promoted to
Chief Compliance Officer of the Company and the Bank, pending regulatory
approval.
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Hugh McFadden, Chief Operating Officer, The Bancorp, Inc. (Photo: Business Wire)
“These strategic appointments are the first step in defining the future
vision of The Bancorp,” said Kozlowski. “Hugh and John both bring vast
experience and knowledge of the financial services industry to the
company, and I look forward to working with them as we shape the
organization. In addition, Pawneet has accomplished a great deal in her
time with The Bancorp and throughout her entire career. She brings deep
knowledge and acumen to this critical function, as we continue to
strengthen the organization’s risk management culture.”
McFadden will have the oversight of Loan Operations, Retail Operations,
Information Technology, and all Credit, Compliance, and Risk Management
functions. McFadden served as a Consultant for Promontory Financial
Group on regulatory compliance issues. Past roles include Chief
Operating Officer and Chief Risk Officer of Modern Bank, N.A., where he
played a leading role in regulatory remediation efforts, the development
of a compliance risk management program, and the introduction of an
enterprise risk management system. McFadden also served in various
capacities within The Citigroup Private Bank, including as Chief
Operating Officer for both the Americas and Europe divisions. Prior to
that, he held various executive roles with Bankers Trust Company. He
began his career with the U.S. Treasury Department and the Export Import
Bank of the U.S.
Leto will oversee Operations Services, Marketing, Public Relations and
Investor Relations, as well as Human Resources, Organization
Development, and all Sales Effectiveness and Practice Management
programs. Previously, Leto served as Senior Vice President and Head of
National Sales of Wealth Management at TD Bank where he managed the
sales expansion strategy throughout the U.S. footprint. Before joining
TD Wealth, Leto was President and Chief Executive Officer of Standard
Chartered Americas Private Bank and Chairman, President, and Chief
Executive Officer of StanChart Securities International. As part of
Standard Chartered’s U.S. Executive Committee he was responsible for all
Wealth Management businesses within the U.S. and Latin America. He also
held several senior management roles at Citigroup, where he served as
The Citigroup Private Bank’s Chief Administrative Officer with
responsibility for the U.S., Latin America, Asia, Europe, and the Middle
East.
As Chief Compliance Officer, Abramowski will assume a wide range of
compliance duties, including overseeing The Bancorp’s Consumer
Compliance Risk Management Program in addition to her current oversight
of Financial Crimes Risk Management activity. Prior to joining The
Bancorp in 2014, Abramowski served as the Director of Anti-Money
Laundering Compliance at CIT, where she also provided oversight and
guidance for the execution of a global AML Risk Framework and other
compliance-related initiatives. Prior to CIT, she was Senior AML
Compliance Officer at RBC Capital Markets, and Global Director – AML
Group at Morgan Stanley. She has also worked as an Intelligence Officer
for the Federal Bureau of Investigation, an Investigator for the New
York State Office of the Attorney General, and a Fraud Investigator for
the New York City Human Resources Administration.
About The Bancorp
With operations in the US and Europe, The Bancorp, Inc. (NASDAQ: TBBK)
is dedicated to serving the unique needs of non-bank financial service
companies, ranging from entrepreneurial start-ups to those on the
Fortune 500. The company’s primary subsidiary, The Bancorp Bank (Member
FDIC, Equal Housing Lender), has been repeatedly recognized in the
payments industry as the Top Issuer of Prepaid Cards (U.S.), a top
merchant sponsor bank, and a top ACH originator. Specialized lending
distinctions include National Preferred SBA Lender, a leading provider
of securities-backed lines of credit, and one of the few bank-owned
commercial leasing groups in the nation. For more information, please
visit www.thebancorp.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160804005680/en/
The Bancorp, Inc.
Media Relations
Rob Tacey,
Director, Public Relations
302-385-1418
rtacey@thebancorp.com
or
Investor
Relations
Andres Viroslav, Director, Investor Relations
215-861-7990
aviroslav@thebancorp.com
Source: The Bancorp, Inc.