S&P Global Market Intelligence presents a daily roundup of management and board changes in the bank and thrift industry. This feature excludes C-level leadership changes and stories previously covered by S&P Global Market Intelligence.
Bank of America Corp. has expanded the responsibilities of the leaders of its wealth management business, effective immediately, Bloomberg News reported.
Merrill Lynch President Andy Sieg is now in charge of the investment solutions and personal retirement groups. Katy Knox, president of the private bank, was given responsibility for the wealth management banking and lending strategy unit as well as the trust specialists team, according to the report.
Keith Glenfield, investment solutions group products and platforms leader, was given responsibility for personal retirement and joins Sieg's leadership team. Chris Adam, personal retirement head, will report to Glenfield, the news outlet reported.
Keith Banks, vice chairperson and head of the investment solutions group, was appointed chief investment officer for BofA's pension and benefit plan investments, Bloomberg News reported.
Nancy Fahmy, who will continue to lead alternative investments and the specialty asset management group while taking on responsibility for ISG specialists, is also joining Sieg's team. Brian Partridge, ISG specialists head, will report to Fahmy, and Chris Hyzy will continue to lead the chief investments office.
Additionally, Randy Takian will remain head of wealth management banking and lending under Knox's expanded role, while trust specialists will report to Jeff Busconi, head of products, service and platforms for the private bank, according to the report.
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Indiana, Pa.-based S&T Bank promoted Steve Drahnak to chief commercial banking officer.
Drahnak is the bank's market president for Western Pennsylvania.
Additionally, the bank strengthened its Western Pennsylvania team with the promotions of Heidi Williams to community market executive and commercial real estate team manager, and Jonathan Kowalski to metro market executive and commercial and industrial team manager, both with the title of senior vice president.
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Rocky Mount, N.C.-based First Carolina Bank named Thomas Forsberg Atlanta market president.
A banking industry veteran, Forsberg will be based at the bank's Atlanta office, which is set to open in April.
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Santa Ana, Calif.-based Banc of California Inc. unit Banc of California NA hired Guillaume de Chalendar as senior vice president and head of media and entertainment.
De Chalendar most recently held a similar role at London-based Alvarium Investments, according to a news release.
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The Federal Home Loan Bank of Des Moines elected Wan-Chong Kung to its board, effective Jan. 19 through Dec. 31.
Previously senior vice president, senior fund manager and head of rates strategy at Nuveen Asset Management LLC from 2011 to 2019, Kung joins FHLB of Des Moines to fill the remainder of a four-year independent director term that became vacant Nov. 19, 2021.
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Chico, Calif.-based Golden Valley Bancshares Inc. and unit Golden Valley Bank added Thomas Hughes to their boards.
Hughes, an original shareholder of the bank, joins the board after a three-decade career at InterWest Insurance Services LLC.
