December 16, 2016 – Executive search firm Kaplan Partners has placed Josephine Iannelli as executive vice president, chief financial officer and treasurer of Bar Harbor Bankshares and Bar Harbor Bank & Trust and its subsidiary Bar Harbor Trust Services.
Ms. Iannelli most recently served as senior executive vice president, CFO and treasurer of Berkshire Hills Bancorp in Pittsfield, MA, having earlier joined the company as SVP/chief accounting officer. Her career has spanned from KPMG to several regional financial institutions to owning her own consulting company serving both national and international clients. In these varying roles, Ms. Iannelli’s experience includes all the necessary responsibilities of finance leadership, including accounting policy, financial planning & analytics, treasury, investor relations, SEC & regulatory reporting, investment management, tax, and M&A.
“As we continue to grow as a publicly traded institution and integrate Lake Sunapee Bank, Josephine will be a critical leader for our company and her experience will make her a key member of our senior executive team,” said Curtis Simard, Bar Harbor Bank & Trust president and chief executive officer.
Bar Harbor Bank & Trust is a community bank with more than $1.5 billion in assets. Founded in 1887, the bank offers a full range of financial services for individuals, businesses, and non-profit organizations throughout Maine with 14 branch locations, from Topsham to Lubec.
Based in Philadelphia, Kaplan Partners specializes in conducting searches for C-level executives primarily in the financial services, corporate financial, private investor and technology sectors. The firm has completed over 50 assignments for financial institution CEOs. Over the past year, it has recruited top leaders for First National Bank of Elmer, Mascoma Savings Bank, Citizens & Northern Corporation, Northfield Savings Bank, and Windham Professionals, Inc. This past June, Kaplan Partners tapped William C. Calderara as president and CEO of Ulster Savings Bank. He came to Ulster Savings with more than 25 years of banking experience, most recently from Naugatuck Valley Savings and Loan in Connecticut as president and CEO.
Banks Turn to Search Firms
In recent months several banks have turned to executive search firms to find new leaders. Here’s a look at just a few from the Hunt Scanlon Media Archives:
- New Orleans-headquartered First NBC Bank retained executive search firm Chrisman & Company to lead its search for a new CEO. Longtime leader and founder Ashton Ryan Jr. has stepped aside as CEO. Founding partner and principal Timothy Chrisman is leading the search along with partner Irwin Stalk.
- Spencer Stuart has been retained by the Federal Reserve Bank of Atlanta to find its next president and CEO. Dennis P. Lockhart is stepping down from his position next February, when he faces mandatory retirement under central bank rules. Spencer Stuart senior partner Thomas T. Daniels, consultant John Harpole and executive recruiter Toby Donovan are leading the assignment.
- The National Bank of Greece (NBG) recently selected Egon Zehnder to lead its hunt for a new chairman. The new chair must have a good understanding of the environment in which the bank operates (e.g. regulatory, legal, economic), including the ability to efficiently interact with various stakeholders (e.g. HFSF, other shareholders, the European Commission, regulators, other official or private sector institutions) and the media.
- Hanold Associates recruited Gaurav Sehgal as chief human resources officer (CHRO) and David Sarjantson as chief marketing officer (CMO) at Denver-based Fortis Private Bank. CEO Jason Hanold led the searches.
Contributed by Dale M. Zupsansky, Managing Editor, Hunt Scanlon Media