AnchorBank fsb, a Madison-based financial institution, has made several changes to its management team in part of its continuing efforts to strengthen itself.
Scott McBrair has been named the bank’s executive vice president of retail banking. Most recently, McBrair was an advisor to First Niagara Bank, which has operations in New York state, Pennsylvania, Connecticut and Massachusetts. McBrair is a Milwaukee native.
"Scott’s extensive experience in leading retail banking, combined with his Wisconsin roots, makes him the perfect fit to help us build on the strengths of our retail franchise," said Chris Bauer, CEO of AnchorBank.
The bank has named Tom Dolan to executive vice president and chief financial officer. Dolan was previously managing director of Northern Pointe Consulting, which has been working with AnchorBank since December of 2009. He also previously worked with LaSalle bank and Bank of America.
"Tom has played a key role as part of our finance team for the last year in a consulting role. He has led the development of our capital planning and cost cutting efforts, so it’s great to have him on-board as a full-fledged member of AnchorBank’s senior leadership," Bauer said.
AnchorBank had significant losses related to commercial real estate investment in 2009. Last year, its earnings and balance sheet recovered, and its recovery and a recapitalization and reorganization plan was approved by federal regulators in September.
"These promotions and appointments are part of our strategy to strengthen our senior leadership team, leveraging both existing strong players, and where appropriate, bringing in highly experienced talent from across our industry," Bauer said.
Additionally, Mr. Mark Timmerman will be taking on a new role at AnchorBank, fsb. Effective today, Mr. Timmerman takes the title of Executive Vice President, General Counsel/Corporate Secretary, mirroring his role in the holding company, AnchorBanCorp Wisconsin, Inc. In his new role Mr. Timmerman, who is a member of the State Bar of Wisconsin, will be responsible for leading the Bank’s legal, compliance and internal audit areas. "Mark has been an integral part of our leadership team since 1995. This change in role will allow him to focus on the legal and regulatory functions so critical to success in today’s banking environment," said Bauer.
Bauer has added the role of president of the bank to his existing titles of CEO and president and CEO of AnchorBanCorp Wisconsin, Inc., the bank’s holding company.
