The Bancorp Announces New Chief Operating Officer and Chief Administrative Officer

WILMINGTON, Del.--(BUSINESS WIRE)--

The Bancorp, Inc. TBBK has retained and appointed financial services leaders Hugh McFadden as Chief Operating Officer of the Company and the Bank, pending regulatory approval, and John Leto to the new role of Chief Administrative Officer of the Company and the Bank. Both will report to Damian Kozlowski, CEO and President. Reporting to McFadden, Pawneet Abramowski, with The Bancorp since 2014, has been promoted to Chief Compliance Officer of the Company and the Bank, pending regulatory approval.

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"These strategic appointments are the first step in defining the future vision of The Bancorp," said Kozlowski. "Hugh and John both bring vast experience and knowledge of the financial services industry to the company, and I look forward to working with them as we shape the organization. In addition, Pawneet has accomplished a great deal in her time with The Bancorp and throughout her entire career. She brings deep knowledge and acumen to this critical function, as we continue to strengthen the organization's risk management culture."

McFadden will have the oversight of Loan Operations, Retail Operations, Information Technology, and all Credit, Compliance, and Risk Management functions. McFadden served as a Consultant for Promontory Financial Group on regulatory compliance issues. Past roles include Chief Operating Officer and Chief Risk Officer of Modern Bank, N.A., where he played a leading role in regulatory remediation efforts, the development of a compliance risk management program, and the introduction of an enterprise risk management system. McFadden also served in various capacities within The Citigroup Private Bank, including as Chief Operating Officer for both the Americas and Europe divisions. Prior to that, he held various executive roles with Bankers Trust Company. He began his career with the U.S. Treasury Department and the Export Import Bank of the U.S.

Leto will oversee Operations Services, Marketing, Public Relations and Investor Relations, as well as Human Resources, Organization Development, and all Sales Effectiveness and Practice Management programs. Previously, Leto served as Senior Vice President and Head of National Sales of Wealth Management at TD Bank where he managed the sales expansion strategy throughout the U.S. footprint. Before joining TD Wealth, Leto was President and Chief Executive Officer of Standard Chartered Americas Private Bank and Chairman, President, and Chief Executive Officer of StanChart Securities International. As part of Standard Chartered's U.S. Executive Committee he was responsible for all Wealth Management businesses within the U.S. and Latin America. He also held several senior management roles at Citigroup, where he served as The Citigroup Private Bank's Chief Administrative Officer with responsibility for the U.S., Latin America, Asia, Europe, and the Middle East.

As Chief Compliance Officer, Abramowski will assume a wide range of compliance duties, including overseeing The Bancorp's Consumer Compliance Risk Management Program in addition to her current oversight of Financial Crimes Risk Management activity. Prior to joining The Bancorp in 2014, Abramowski served as the Director of Anti-Money Laundering Compliance at CIT, where she also provided oversight and guidance for the execution of a global AML Risk Framework and other compliance-related initiatives. Prior to CIT, she was Senior AML Compliance Officer at RBC Capital Markets, and Global Director – AML Group at Morgan Stanley. She has also worked as an Intelligence Officer for the Federal Bureau of Investigation, an Investigator for the New York State Office of the Attorney General, and a Fraud Investigator for the New York City Human Resources Administration.

About The Bancorp

With operations in the US and Europe, The Bancorp, Inc. TBBK is dedicated to serving the unique needs of non-bank financial service companies, ranging from entrepreneurial start-ups to those on the Fortune 500. The company's primary subsidiary, The Bancorp Bank (Member FDIC, Equal Housing Lender), has been repeatedly recognized in the payments industry as the Top Issuer of Prepaid Cards (U.S.), a top merchant sponsor bank, and a top ACH originator. Specialized lending distinctions include National Preferred SBA Lender, a leading provider of securities-backed lines of credit, and one of the few bank-owned commercial leasing groups in the nation. For more information, please visit www.thebancorp.com.

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