Royal of Pa. Promotes Three Execs, Still Must Hire CEO

Royal Bancshares of Pennsylvania (RBPAA) promoted three executives as the $831 million-asset company's management ranks continues to undergo changes.

Royal, of Narberth, Pa., promoted Robert Kuehl from chief financial officer to the new position of chief administrative officer. Royal promoted Michael Thompson to CFO, from chief accounting officer; he will serve as CFO of the holding company and its bank, Royal Bank America. Royal filled Thompson's old position with Mary Kay Shea, who was promoted from controller.

The moves took effect Sept. 24 and were announced Monday.

In April, Royal's chairman and chief executive, Robert Tabas announced his retirement as CEO, and Chief Lending Officer Murray Stempel retired as an officer but remained on the board. Its president and chief operating officer, James McSwiggan, retired and left the board.

Tabas will stay on as CEO through yearend or until his successor is hired.