First Hawaiian Bank’s chief financial officer, Ravi Mallela, has resigned from his post for personal reasons, the Honolulu company announced Monday.
The $25 billion-asset First Hawaiian said that Vice Chairman and Chief Risk Officer Ralph Mesick will serve as interim CFO while it seeks Mallela’s replacement. Mallela’s resignation is effective on Jan. 7.
“Ravi has been a key member of our management team over the last three years,” Chairman, President and CEO Bob Harrison said in a press release. “We would like to thank Ravi for his contributions and wish him well.”
Before he joined First Hawaiian in 2018, Mallela had worked for five years at First Republic Bank. He also held various finance and accounting roles at BMO Financial in Chicago and with Wells Fargo in San Francisco.
Though surprised by Mallela’s decision, analysts pointed out that Mesick is a seasoned banking veteran with more than 30 years of banking experience. Mesick joined First Hawaiian in 2012 as executive vice president and manager of the commercial real estate division and was named executive vice president and chief risk officer in 2016.
“Despite the temporary vacancy among the leadership team, [Mesick] is well suited to take on the additional responsibilities while the board seeks a permanent replacement,” Andrew Liesch, an analyst with Piper Sandler, wrote in a note to investors Monday.
