Daily News: August 4, 2014

Amalgamated Bank Names Mestrich CEO

Amalgamated Bank announce that Keith Mestrich, who has served as the bank’s president since April, was selected as CEO to support growth and further the bank’s mission of offering affordable and accessible banking for all. Before joining Amalgamated in 2012, Mestrich worked in the progressive movement for more than two decades, primarily in leadership roles in financial operations.

“We are thrilled to have such a talented and unique individual at the helm as we build on our current strengths and chart our course for the future,” said Noel Beasley, chairman of Amalgamated Bank and president of the labor union Workers United. “Keith has a rare combination of assets: financial and operational acumen, a deep passion for serving our customers and the heart of a progressive warrior. He is exactly the person we want to lead this institution.”

Mestrich joined Amalgamated in 2012 as director of its Washington, D.C., office and subsequently served as chief of staff and then president. Previously, he was CFO and deputy chief of staff at the Service Employees International Union (SEIU), where he assisted the elected leadership in the implementation of a strategic overhaul of the organization’s $300 million annual financial operation and helped guide its $1.5 billion pension trust and health and welfare funds. He has also worked for Workers United and the AFL-CIO in managerial, financial and political roles.

“I am honored to have been selected to lead this important and storied institution,” Mestrich said. “I am eager to lead Amalgamated as we grow, deliver more for our customers, and remain true to our almost century-old founding mission: to offer high-quality, affordable and accessible banking. In the years ahead, we will work to solidify our reputation as the preeminent financial institution for working families, progressive organizations and businesses and labor.”

Mestrich succeeds interim CEO Gabriel Caprio, who also served as the bank’s CEO from 1991 to 2006 and in late-2013 through the first half of 2014.

“We give our heartfelt thanks to Gabe for his steadfast leadership, expertise and commitment to Amalgamated through the years,” Beasley said. “His innumerable contributions to the bank will have a lasting impact on our continued growth.”