Alan Kaplan, CEO and Founder of Kaplan Partners, discusses Building a Better Board Room in executive search and recruitment.
A Conversation with Jim Deutsch, Partner, Patriot Financial Partners
Collingswood, N.J. — January 29, 2020 — The Boards of Directors of 1st Colonial Bancorp, Inc. (OTC: FCOB) and its subsidiary, 1st Colonial Community Bank, today announced that they have appointed Robert B. White as the president and chief executive officer of both the holding company and the bank, effective February 3, 2020. He succeeds Gerard M. Banmiller, the current president and chief executive officer of both companies, who is retiring. Mr. White brings 30 years of experience in banking and financial services with him to 1st Colonial.
Most recently, White served as the Executive Vice President and Chief Risk Officer for Customers Bank, a commercial bank headquartered in Wyomissing, Pennsylvania with over $11 billion in assets. While at Customers Bank, he oversaw all risk management functions, including compliance, credit/loan review, and third-party risk management, for a rapidly growing and profitable community bank. He was also president of the Bank’s Special Assets Group, which managed and substantially reduced the Bank’s non-performing assets. For several years he also served as the Bank’s Director of Corporate Development in charge of the Bank’s acquisitions and strategic partnerships.
Chairman Linda Rohrer commented, “We are very pleased that Bob White has agreed to become our new CEO. We looked at many candidates, and believe that he is the one best suited to lead 1st Colonial into this new chapter for our bank. He is a results-driven banker with a strong credit background. Also, his extensive risk management experience will be invaluable to our Board. We thank Gerry Banmiller very much for all his leadership and guidance over these last 20 years, and we wish him all the best in his retirement.”
The Board of Directors of 1st Colonial Bancorp also announced that it has declared a five percent (5%) stock dividend to the company’s shareholders. The dividend will be distributed on all issued and outstanding shares held of record as of April 1, 2020 and will be payable on April 15, 2020. Accordingly, each shareholder as of the record date will receive one share of common stock for every 20 shares of common stock that they own on that date, plus an additional share in lieu of any fractional share payable to the shareholder.
1st Colonial Community Bank, the subsidiary of 1st Colonial Bancorp, provides a range of business and consumer financial services, placing emphasis on customer service and access to decision makers. Headquartered in Collingswood, New Jersey, the Bank also has a branch in the New Jersey community of Westville and administrative offices in Cherry Hill, New Jersey. To learn more, call (856) 858-8402 or visit www.1stcolonial.com.
Wynnewood, PA – January 22, 2020 – Kaplan Partners, a leading boutique executive search and talent advisory firm, today announced Nicholas DeMedio (“Nick”) joining the firm as a Principal. With more than 20 years of Executive Search, Talent Management and Human Resources experience, Nick comes from Mosteller & Associates where he oversaw the financial services executive search practice for the regional Human Resources consulting firm. In this role, Nick led a number of Chief Executive Officer and C-Level searches, working directly with Boards of Directors and Executive Management teams in all facets of senior level recruiting, executive compensation and talent consulting.
Nick previously served as a senior executive at Royal Bank America, a publicly traded community bank based in suburban Philadelphia. In this key leadership role, Nick managed both strategic and hands-on initiatives of the human resources department, including executive recruiting, the design and administration of both executive and staff compensation and benefits infrastructure, executive on-boarding, talent management and succession planning.
“We are thrilled to welcome Nick to the Kaplan Partners team,” said Alan J. Kaplan, founder and CEO of Kaplan Partners. “His experience lends itself well to the firm’s high standards for advising CEOs and boards on leadership succession, corporate governance, talent management, and enhancing diversity. Nick’s combination of experiences as both a trusted advisor and human resources leader will significantly benefit our clients.”
Nick holds a Bachelor of Business of Administration with a concentration in Human Resources Management from Temple University, as well as the Senior Professional of Human Resources (“SPHR”) certification from the Society of Human Resources Management.
ABOUT KAPLAN PARTNERS
For 25 years, Kaplan Partners has served as strategic human capital advisors specializing in Executive Search, Board Advisory Services, and Management Assessment and Succession Planning for the nation’s leading institutions, including: regional and community banks, asset management firms, private equity and venture capital firms, FinTech firms, mortgage and insurance companies, credit unions, technology companies and high growth organizations. Kaplan Partners employs a holistic approach and proven methodology to find the best solutions in support of evolving client leadership needs. The firm works directly with CEOs, boards, and investors to identify and evaluate leadership potential, leveraging best practices in corporate governance and succession management to ensure its clients’ continued success in today’s demanding markets. Visit here: www.kaplanpartners.com.
Mixing talent with business
In scattered HR departments across the country, professionals are hoping some daunting numbers will spur executives to embrace a bold approach to integrated talent management. Although we’ve seen it coming for years, companies have been forced to appreciate the magnitude – and feel the acute impact – of baby boomer retirements. America’s 80 million boomers are expected to retire at a rate of about 10,000 people per day over the next 19 years, undoubtedly leaving talent gaps in many organizations.
That trend will require companies to embrace bolder talent strategies. “In the past, companies have created business forecasts, then developed talent strategies to support those,” said Mindy Mazer, Corporate Director of Talent Acquisition at AMETEK, Inc. and a former talent executive with several, large Philadelphia companies. “With the changing demographics and the talent pool becoming much more competitive, companies are going to have to do a different kind of planning.”
But how can you integrate your talent strategy with your business strategy and avoid talent shortfalls?
Mine the data
Analyze your existing talent pool and long-term talent needs. This analysis should include demographics of current staff in all segments of your business, turnover rates and costs, existing skills, scarce skills, existing or looming management gaps, and the adequacy of the talent queued up to assume greater roles inside the organization. Also assess the attributes that will be needed to thrive in a rapidly changing economy.
Such data can highlight emerging talent gaps and provide the foundation for strategies to acquire the right talent to meet business goals.
Invest in potential
Armed with that forecast of your talent needs, refine your recruiting, retention, training, succession planning, employee benefits and other talent programs to target emerging talent gaps and workforce realities. This, Mazer warns, is a daunting job and can require fundamental changes to established business practices.
The anticipated shortage of experienced employees and senior-level managers, for example, is prompting some companies to shift their recruiting programs to focus primarily on fresh college graduates and “young potentials.” In conjunction, firms are creating extensive development programs to help those junior employees gain subject-matter, project-management and leadership skills.
“This approach requires companies to think differently. It requires funding and it’s more proactive than many companies tend to be,” Mazer said. The payoff, however, could be the creation of a “bench of talent” tailored to advance your company’s strategic goals.
A Conversation with Chris Franklin / Chairman + CEO, Aqua America
Board games, team players
It’s the stuff of Hollywood drama and CEO nightmares. Dysfunctional boards of directors – at least in movies and bad dreams – can be the source is interminable meetings, uninspired deliberation, corporate gridlock and even hostile power grabs.
In everyday business life, however, a board of directors doesn’t have to be anything like that. A great board should involve a group of engaged thought-leaders, diverse professionals and perhaps a few entrepreneurial superstars. This dynamic team will help tackle key challenges, explore growth opportunities, grapple with succession, and strategically advance the company. So, how do you create a highly talented and effective board for your company?
Map skills and needs
Begin by analyzing the strengths of current board members and identify skills gaps that should be filled by future members. A fully capable board of directors typically includes folks with industry and management expertise, plus specialists in finance, law, human resources, technology, risk, governance, innovation and markets—to name a few.
The board’s nominating committee should focus on candidates with proven qualifications, said Margaret Pederson, President and CEO of Amirexx LLC “Many people want to be considered for board positions when they are years away from being appropriate candidates. People have asked me, ‘Do I have to fully understand a P&L to sit on the board?’ They should have run a P&L before they join a board.”
Many board meetings, unfortunately, still live up to the stereotype of being gatherings of older, white men. Improving diversity within boards is essential, Peterson said, “but I define it as diversity of thought, experience and expertise. The board needs to fully represent the world that the company serves, and be able to communicate with all company stakeholders, especially customers and employees. You want to have a diverse slate of candidates that understand markets across various income levels, geographies, cultures and other demographics.”
Value soft skills
Just as any new employee should fit well with the company’s culture, new board members need to blend well with the board’s culture. A board candidate’s communication style, priorities, personality and even emotional intelligence should be considered to determine how that person would interact with existing board members.
When creating or adding to a board, make the effort to craft an effective team that will collaborate well, challenge and inspire each other, and respect differing points of view. Ultimately, it will help your board achieve its goals of providing leadership oversight, making the best decisions, and advancing critical business strategies.
A Conversation with Carol Johnson
August 7, 2019 Warren, PA — Mark T. Reitzes has been named Executive Vice President and Head of Commercial Banking for Northwest Bank, according to Ronald J. Seiffert, Northwest Chairman, President and CEO. In his new role, Mr. Reitzes will develop and execute Northwest’s commercial banking strategy, including a comprehensive and consistent sales delivery model across the bank’s footprint, as well as new commercial products and services.
During his 36-year career, Mr. Reitzes has gained extensive knowledge and experience serving in various roles in commercial and retail banking, including Commercial Banking Division Head and, subsequently, Regional President, for Huntington National Bank’s Southern Ohio/Kentucky Region. Mr. Reitzes also served as President and CEO of Cheviot Savings Bank, a $575 million community bank in Cincinnati. His background also includes supervisory regulatory experience with The Office of Thrift Supervision (OTS) and with the Cincinnati office of KPMG as a CPA in the Financial Institutions practice.
Mr. Reitzes has also provided expert testimony before the United States Congressional House Banking Committee and was recognized as an EY Leading Financial Executive, Cincinnati Magazine’s Power 100 and Cincinnati Magazine’s Leading Influencer of Greater Cincinnati.
In making the announcement, Mr. Seiffert said, “Mr. Reitzes is an experienced banker with an extensive commercial background. He will add a tremendous amount of value to our organization and is uniquely qualified to lead our Commercial Banking efforts as we continue to profitably grow and expand.”
Mr. Reitzes is a graduate of the University of Cincinnati and The Ohio State University Fisher College of Business Executive Leadership program. He is a member of the American Institute of CPAs and the Ohio Society of CPAs.
Northwest Bank operates 172 full-service offices and ten free-standing drive through locations. Founded in 1896, Northwest offers a complete line of personal and business banking products including employee benefits, investment management services, insurance and trust. Northwest Bancshares, Inc. is the holding company of Northwest and is listed on the NASDAQ Global Select Market as NWBI. More information about Northwest can be found online at www.northwest.com.
July 24, 2019 Indiana, PA S&T Bank (NASDAQ: STBA), a full-service financial institution with assets of $7.3 billion, and current operations in five markets including Western Pennsylvania, Central Pennsylvania, Northeast Ohio, Central Ohio, and Upstate New York, is pleased to welcome Dana Wysinger as Chief Marketing Officer (CMO).
“S&T Bank is charting a course for growth by making strategic investments in our talent and technology to provide best in class solutions and services to our communities and businesses that we serve. Prioritizing the customers’ needs and exceeding their expectations is paramount to our continuous growth strategy,” said Todd D. Brice, chief executive officer of S&T Bank. “We are excited to welcome Dana to our team and believe her diverse experience in marketing, data and analytics, and digital technology will play an integral role in transforming our business.”
Prior to joining S&T Bank, Dana held senior executive positions at several Fortune 100 & 500 companies including Target Financial Services, Wells Fargo, and most recently SunTrust Bank. She has directed strategic planning, marketing, and product management and development. Her responsibilities included driving consumer and business banking deposits, credit and lending acquisition, and retention efforts. She served in other marketing leadership roles with treasury and payments solutions, small business, and private wealth management. Dana specializes in creating product solutions that meet client’s needs, implementing financial technologies to improve the client experience, and development of digital strategies and sales effectiveness that deliver significant business results.
“Dana is a customer-centric focused marketer who leverages data and client insights to deliver an unparalleled client experience at every touchpoint of the customer lifecycle,” said Becky Stapleton, chief banking officer of S&T Bank. In her new role as chief marketing officer, Dana will be spearheading all marketing, brand and demand generation, digital strategy, and product management. Dana will work closely alongside S&T Bank’s market presidents and lines of business to develop and execute market-based strategies to enhance the customer experience across all distribution channel platforms.
“S&T Bank is a relationship bank that excels in serving customers, the community, employees, and its shareholders,” said Dana Wysinger. “I look forward to bringing the bank a solid 25-year track record delivering business growth through results-driven and customer-first marketing initiatives.”
Dana graduated with a bachelor’s degree in mass communication from the University of California, Berkeley. She received executive education in advanced strategies in digital marketing and analytics from Wharton Business School and in organizational leadership from Harvard Business School. Outside of work, Dana actively participates in numerous professional and charitable organizations including Junior Achievement, United Way, and the United States Chamber of Commerce.
About S&T Bancorp, Inc. and S&T Bank
S&T Bancorp, Inc. is a $7.3 billion bank holding company that is headquartered in Indiana, Pennsylvania and trades on the NASDAQ Global Select Market under the symbol STBA. Its principal subsidiary, S&T Bank, was recently named by Forbes as a 2019 World’s Best Bank and a 2018 Best-in-State Bank. Established in 1902, S&T Bank operates in five markets including Western Pennsylvania, Central Pennsylvania, Northeast Ohio, Central Ohio, and Upstate New York. www.stbank.com