nCino, a cloud-based banking solutions provider, has tapped Chief Product Officer Sean Desmond as president and CEO to guide the fintech through its next phase of growth, the company announced Monday.
Desmond succeeds Pierre Naudé, effective immediately; Naudé will continue as the executive chairman of nCino’s board to ensure a smooth transition, according to the press release. Desmond will also join the company board.
“On behalf of the Board, we are pleased to have Sean lead nCino through its next phase of growth and innovation,” Pam Kilday, nCino’s lead independent director, said in a statement, adding that after considering a diverse pool of external and internal candidates, the board found Desmond to be the “right leader to guide nCino forward.”
“[Desmond’s] extensive knowledge of all key facets of our business, paired with his experience scaling large, multi-national organizations, and forward-thinking approach to product innovation through data and AI, will help nCino capture new market opportunities and drive meaningful growth,” Kilday noted.
Chris Gufford, executive director and general manager of nCino commercial banking since 2021, will succeed Desmond as chief product officer, the company said.
Desmond joined nCino in 2013 as chief customer success officer, overseeing the delivery and implementation of the company platform to financial institutions worldwide. He was promoted to the role of chief product officer in May 2024 and tasked with leading product development and engineering globally while managing two-thirds of the staff at nCino, the company said.
Desmond will focus on leveraging nCino's fintech dataset and AI capabilities while pursuing global growth through data-driven experiences, he said.
“My focus will be on mobilizing the company to meet the moment – which is to deliver the power of the only platform that stands on the foundation of the richest dataset in fintech, with embedded AI capabilities, to stay true to our mission of transforming financial services through innovation, reputation and speed,” the new chief executive said.
Before joining nCino, Desmond worked at software development company Informatica for more than 14 years and as a business analyst at Platinum Technologies, which was acquired by Computer Associates in 1999.
Desmond will get a base salary of $500,000 for his new role along with an annual bonus target equal to 100% of base salary and an equity incentive opportunity with a target grant date fair value equal to $8.2 million for 2026, according to a Securities and Exchange Commission filing. He will also be eligible for enhanced severance benefits of 24-month equity vesting upon termination without cause, the filing noted.
nCino reported total revenue of $138.8 million — up 14% year-over-year — for the third quarter of fiscal 2025. nCino’s loss improved to $5.3 million in the third quarter of fiscal 2025, from $16.4 million in the third quarter of fiscal 2024.
nCino has about 1,800 customers worldwide, including community banks, credit unions, independent mortgage banks and some of the largest financial entities. In October, nCino inked a deal with FullCircl, a U.K.-based software-as-a-service platform to help financial institutions grow revenue and automate onboarding process.
Naudé, the new executive chairman, will get a base salary of $260,000, an annual bonus target of $260,000 and a target equity incentive of $4 million for 2026. He can retain full vesting of equity awards if asked to resign from the board, according to the SEC filing.
“I am proud of what we have accomplished at nCino over the past 13 years, and it has been a privilege to guide that journey,” Naudé said in a statement Monday. “I’ve seen firsthand how Sean’s leadership and experience has contributed to nCino’s growth and success…I am confident he is the right person to guide nCino forward.”
