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Wells Fargo adds board member; First Citizens BancShares COO retiring

S&P Global Market Intelligence presents a daily roundup of management and board changes in the financial services and bank and thrift industries. This feature excludes key C-level leadership changes, which are covered separately, and stories previously covered by S&P Global Market Intelligence.


Troy, Mich.-based Flagstar Bank FSB appointed John Gibson national sales director for its third-party originations division.

Gibson most recently was executive vice president of wholesale lending production at Caliber Home Loans Inc.


Wilmington, Del.-based WSFS Financial Corp.'s WSFS Bank hired Lisa Washington as senior vice president and chief legal officer.

Washington is vice chairman of JEVS Human Services' board.


Wells Fargo & Co. elected Richard Payne Jr. to the board, effective Oct. 17. Payne previously was vice chairman of wholesale banking at U.S. Bancorp.


Raleigh, N.C.-based First Citizens BancShares Inc. COO Edward Willingham IV will retire, effective Dec. 31. Upon his retirement, the COO position will be discontinued and its responsibilities will be absorbed by the executive leadership team.


Terry Osborne will retire Feb. 1, 2020, as assistant secretary of Mansfield, Pa.-based Citizens Financial Services Inc. and chief credit officer and assistant secretary of unit First Citizens Community Bank.

Financial services

Thornburg Investment Management Inc. named Ben Kirby and Jeff Klingelhofer as co-heads of investments.

Additionally, Chief Investment Officer Brian McMahon was named chief investment strategist. He will continue as a portfolio manager on multiple global equity strategies and become vice chairman on the company's board.

Kirby joined the company in 2008 while Klingelhofer joined the firm in 2010.


Freddie Mac appointed Frank Nazzaro executive vice president and chief information officer.

Nazzaro joined in 2018 and had been acting chief information officer since May.