Byline Bancorp in Chicago didn’t have to look far to find its next leader.
The $6.4 billion-asset company said Roberto Herencia, the company’s chairman, will become CEO on Feb. 12.
Herencia will succeed Alberto Paracchini, who will remain president and CEO of Byline Bank. Paracchini will also stay on the company’s board.
Herencia was CEO of Banco Popular North America from 2001 to 2009. He was recruited to lead an unsuccessful effort to keep Midwest Banc Holdings from failing before leading the
Byline said in a press release Thursday that the change is “intended to accelerate and support the execution of the company’s strategic plan, specifically its growth strategy, as a leading commercial bank in the Chicago” market.
Having Herencia and Paracchini "work together in this capacity doubles up on their considerable talents and close relationship for the benefit of the company,” Antonio Del Valle Perochena, a Byline director and chairman of the company’s governance and nominating committee, said in the release.
“I welcome the continued support and close collaboration with Roberto, as we work to accelerate our growth strategy,” Paracchini said.
Byline also said its fourth-quarter earnings fell by 6% from a quarter earlier, to $12.3 million.
