S&P Global Market Intelligence presents a weekly news summary of executive management and board chair-level changes in the bank and thrift industry.
Surjit Rajpal is retiring from BMO Financial Group at the end of January 2019. He began serving as chief risk officer in 2011 and will move to an advisory role on Nov. 1 prior to his retirement.
Pat Cronin, who is currently the group head of BMO Capital Markets, will succeed Rajpal as risk chief on Nov. 1.
Gilles Ouellette — group head of BMO Asset Management Inc. and vice chair, international of BMO Financial — is also retiring in 2019.
BMO Financial Group is the marketing name used by Bank of Montreal and BMO Capital Markets is the capital markets division of Bank of Montreal.
Prince George, Va.-based Touchstone Bank appointed Joseph Pennington senior vice president and chief accounting officer. He was previously with Southern National Bancorp of Virginia Inc., where he served as CFO.
Effective Jan. 1, 2019, however, Pennington will transition to the role of executive vice president and CFO of Touchstone. Vera Primm, who is currently the executive vice president and CFO, will then become the bank's executive vice president and chief accounting officer.
Jill Gutierrez, current CEO of Alamogordo, N.M.-based Bancorp 34 Inc. and unit BANK 34, succeeded William Kauper as president of both entities. Kauper resigned Oct. 2.
Freedom Bank of Virginia appointed Shaun Murphy executive vice president and chief operating and credit officer.
Murphy previously served as senior executive vice president and chief credit and risk officer of Washington, D.C.-based City First Bank of DC NA.
Citizens Bank Minnesota President and CEO Luther Geistfeld is planning to retire at the end of 2019, prairiepublishingmn.com reported.
Mark Denn, who was promoted to executive vice president at the Citizens Bancorp. of New Ulm Inc. unit, will assume Geistfeld's responsibilities.
Mike Lenahan was appointed executive vice president and CFO of Boston-based Radius Bank, succeeding James Malerba. Lenahan was executive director in the Corporate and Investment Bank at JPMorgan Chase Bank NA.
Mark Francesconi, who was a senior vice president within Radius Bank's equipment finance division, was promoted to executive vice president and chief risk officer, succeeding Shepard Rainie.
Northern California National Bank named Marcy Sutcliffe executive vice president and chief credit officer.
Sutcliffe joined the Chico, Calif.-based bank in December 2017.
George Schwartz, president of Boston Private Bank & Trust Co., is retiring, effective Nov. 30.
Stephen Mourlam assumed the role of interim CFO of Webster City, Iowa-based WCF Bancorp Inc. and unit WCF Financial Bank.
Mourlam was president and CEO of both entities from January 2009 until his retirement in August 2018.
Michael Hagedorn, vice chairman of Kansas City, Mo.-based UMB Financial Corp. as well as president and CEO of UMB Bank NA, resigned from his positions.
Jim Rine succeeded Hagedorn as president and CEO of UMB Bank, where he previously served as president of commercial banking.