Dive Brief:
- New York City-based Amalgamated Bank has named Priscilla Sims Brown its president and CEO, effective June 1, the company said in a press release Tuesday.
- The bank had been searching for a permanent leader since former CEO Keith Mestrich stepped down Jan. 31.
- Brown serves as group executive of marketing and corporate affairs at Commonwealth Bank in Australia.
Dive Insight:
Lynne Fox, the bank’s chairman, has served as interim CEO since Mestrich left.
"Priscilla is exactly what we need to take Amalgamated to its next stage, a highly experienced and inspirational leader whose vision aligns perfectly with ours," Fox said in the bank's press release. "Her track record of success with major national and global financial institutions makes her uniquely qualified to take on this role at this important time in our bank’s history and in our society."
Before working at Commonwealth Bank, Brown served as chief marketing officer at AXA Financial, and chief marketing officer and chief strategist at Sun Life Financial, where she negotiated and managed Sun Life Stadium naming rights with the NFL’s Miami Dolphins, according to Tuesday's release. She has also held several leadership posts at Lincoln Financial and served as CEO of the digital health insurance broker Emerge.me.
"I have watched Amalgamated become the leading socially responsible bank in America, and I fully embrace their vision to be the bank that furthers economic, social, racial and environmental justice," Brown said. "I believe Amalgamated can achieve significant growth by increasing awareness of the brand it has built over the last 100 years, expanding into new markets across the country, and better serving our loyal customers with products and services that are future fit."
The largest union-owned bank in the U.S., Amalgamated holds $6.4 billion in assets.
