The Bancorp in Wilmington, Del., has selected a former Citigroup executive as its next chief executive.
The $4.4 billion-asset company said in a press release Tuesday that Damian Kozlowski will also become president of its bank and join its board on June 1. He will succeed John Chrystal, who has been the company's
Kozlowski was an executive at Citigroup from 2000 to 2007, finishing his career at the banking giant as chief executive of its global private bank. More recently he was president and chief executive of Modern Bank.
Kozlowski "brings to The Bancorp well-rounded knowledge of the business of banking and deep understanding of its regulatory complexities," Daniel Cohen, the company's chairman, said in the release. "His experience in both smaller and larger financial institutions has given him the unique perspective that's required of The Bancorp's business model within the financial services and technology sectors."
The Bancorp has weathered some rough patches in recent few years.
The Federal Deposit Insurance Corp.
A flurry of unwelcome — and seemingly unrelated — news followed. The FDIC
In September the company put an end to recent accounting woes by
Challenges have persisted this year. The company reported a