Advisory
Assurance
Tax
Technology
By David M. Desmarais
By Daniel M. Andrea
Mission Matters
By Jamie Z. Hansen
By Andrew R. Tavares
Office Locations
Finding the Right Leader
A community bank with $2.5B in assets was undergoing a period of transition. With increased competition from national institutions and fintech disruptors, the Bank’s Board sought a new Chief Executive Officer (CEO) who could modernize operations, strengthen community relationships, and drive long-term growth.
The outgoing CEO had been in place for over 30 years, and the Board faced a critical succession challenge. They needed a leader with a proven track record in banking, but also someone who could:
The search required balancing strategic vision with hands-on leadership, as well as ensuring alignment across a diverse Board of Directors.
We began with an in-depth discovery process, engaging each Board Member to understand their priorities for the next chapter of leadership. Using KLR’s network across banking and financial services, we identified a mix of candidates with CEO and senior executive experience at both local banks, regional banks, and fintech institutions.
The KLR Team worked closely with banking partners from our parent accounting firm, who provide tax, compliance, and advisory services to financial institutions. This expertise helped us assess each candidate’s experience with regulatory frameworks, enterprise risk management, and financial reporting standards unique to the banking sector.
Stakeholder Alignment: Conducted one-on-one sessions with Board Members to prioritize leadership competencies.
Market Mapping: Networked with potential candidates across the Northeast and Mid-Atlantic banking markets.
Candidate Vetting: Evaluated experience in Board Relations & Strategic Planning, Strategic Leadership/Management, Financial - P&L & ALM, Business Development & Community, Lending, Retail & Operations, Informational Technology & Digital, and Risk Management & Regulatory Relations.
Board Collaboration: Presented a carefully curated slate of eight finalists and guided the Board through structured interviews and assessments.
Within 90 days, the Board selected a candidate with prior CEO experience at a mid-sized regional bank. The new CEO quickly set a forward-looking strategy, which included:
"The KLR team delivered exactly what we needed: a leader who not only brings vision and industry expertise, but also understands the values that define our Bank. The process was collaborative, transparent, and thorough. We’re confident we’ve secured the right CEO to lead us into the future."
- Chair of the Board
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