The Bancorp has a new chief operating officer, replacing an executive who had joined the Wilmington, Del., company just 16 months earlier.
The $4.4 billion-asset company said in a press release Thursday that Hugh McFadden had become chief operating officer of its bank, handling areas such as lending, credit, compliance and risk management. McFadden, who held the same post at Modern Bank from 2011 and 2013, had also been an executive at Citigroup Private Bank.
McFadden, who had been a consultant on regulatory compliance issues for Promontory Financial Group since 2014, succeeded Gail Ball, a former official with the Federal Reserve Board who joined The Bancorp in March 2015.
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The $5 billion-asset company said in a press release Tuesday that Gail Ball recently served as head of the payment studies group at the Federal Reserve Bank of Richmond.
April 1 -
The Bancorp in Wilmington, Del., named Sepideh Behram to the role of chief compliance officer. Her hiring comes as the $4.8 billion-asset company works to shore up its risk and compliance management.
February 10 -
An enforcement action related to anti-money-laundering compliance once again forced The Bancorp in Wilmington, Del., to report a quarterly loss.
July 28 -
The Bancorp in Wilmington, Del., is looking for a new chief executive. The $4.7 billion-asset company said that Frank Mastrangelo resigned as CEO to become its technologist in residence.
December 14 -
The Bancorp in Wilmington, Del., has selected a former Citigroup executive as its next chief executive.
May 24 -
The embattled Bancorp in Wilmington, Del., has named Steven Turowski chief risk officer and submitted some previously delayed financial reports that shed more light on its financial condition.
September 29 -
The Bancorp in Wilmington, Del., has agreed to pay a $3 million civil money penalty to address issues tied to electronic fund transfer practices.
December 29
The Bancorp didn't mention Ball in its release; efforts to contact the company were unsuccessful. Ball's
Damian Kozlowski became The Bancorp's
The Bancorp has experienced significant turnover and turbulence in recent years. The company's woes go back to at least 2014, when it
More issues surfaced last year. The Federal Deposit Insurance Corp. in January 2015 hit the company with an
In addition to hiring Ball, The Bancorp last fall brought in Steve Turowski from Bank of New York Mellon to become its
The Bancorp has continued to struggle, reporting about $42 million in losses through the first half of this year as it looks to
McFadden was one of several executive moves announced on Thursday. The company also promoted Pawneet Abramowski to chief compliance officer, reporting to McFadden. She will continue to be responsible for financial crimes risk management.
Abramowsi succeeded Sepideh Behram, according to Behrem's
John Leto, formerly head of national sales at TD Bank, was named the company's chief administrative officer.